1.1                          A bill for an act 
  1.2             relating to highways; appropriating money and 
  1.3             authorizing issuance of state trunk highway bonds for 
  1.4             reconstruction of marked trunk highway 14 between 
  1.5             Eagle Lake and Owatonna.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [APPROPRIATION; TRUNK HIGHWAY 14.] 
  1.8      $164,600,000 is appropriated from the bond proceeds account 
  1.9   in the trunk highway fund to the commissioner of transportation 
  1.10  for the reconstruction and improvement of marked trunk highway 
  1.11  14 from its intersection with marked trunk highway 60 east of 
  1.12  Eagle Lake to its intersection with marked interstate highway 35 
  1.13  in Owatonna. 
  1.14     Sec. 2.  [BOND SALE AUTHORIZATION.] 
  1.15     The commissioner of finance shall sell and issue bonds of 
  1.16  the state in an amount up to $164,600,000 in the manner, upon 
  1.17  the terms, and with the effect prescribed by Minnesota Statutes, 
  1.18  sections 167.50 to 167.52, and by the Minnesota Constitution, 
  1.19  article XIV, section 11, at the times and in the amounts 
  1.20  requested by the commissioner of transportation.  The proceeds 
  1.21  of the bonds, except accrued interest and any premium received 
  1.22  on the sale of the bonds, must be credited to the bond proceeds 
  1.23  account in the trunk highway fund.  Payment of principal and 
  1.24  interest on the bonds must be made from the bond repayment 
  1.25  account in the trunk highway fund.