HF 2512

as introduced - 88th Legislature (2013 - 2014) Posted on 02/27/2014 03:28pm

A bill for an act
relating to transportation; capital investment; appropriating money for corridor
improvement study along marked U.S. Highway 169; authorizing the sale and
issuance of trunk highway bonds.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin TRUNK HIGHWAY BONDS; APPROPRIATION AND BOND SALE
AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $500,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for a corridor study
and design of U.S. Highway 169 between Interstate Highway 394 and County State-Aid
Highway 70 to reduce congestion, improve access, and reduce incidence of crashes.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivision 1 from the
bond proceeds account in the trunk highway fund, the commissioner of management and
budget shall sell and issue bonds of the state in an amount up to $500,000 in the manner,
upon the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to
167.52, and by the Minnesota Constitution, article XIV, section 11, at the times and in the
amounts requested by the commissioner of transportation. The proceeds of the bonds,
except accrued interest and any premium received from the sale of the bonds, must be
deposited in the bond proceeds account in the trunk highway fund.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end