HF 1500

Introduction - 83rd Legislature (2003 - 2004)

Posted on 12/15/2009 12:00 a.m.

  1.1                          A bill for an act
  1.2             relating to highways; authorizing state bonds for 
  1.3             construction of an interchange at the intersection of 
  1.4             marked trunk highway 169, Hennepin county state-aid 
  1.5             highway 81, and 85th Avenue North; appropriating money.
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [COUNTY STATE-AID HIGHWAY PROJECT; 
  1.8   APPROPRIATION.] 
  1.9      $40,000,000 is appropriated from the bond proceeds account 
  1.10  in the trunk highway fund to the commissioner of transportation 
  1.11  for completion of an interchange at the intersection of marked 
  1.12  trunk highway 169, Hennepin county state-aid highway 81, and 
  1.13  85th Avenue North. 
  1.14     Sec. 2.  [BOND SALE.] 
  1.15     To provide the money appropriated in section 1 from the 
  1.16  bond proceeds account in the trunk highway fund, the 
  1.17  commissioner of finance shall sell and issue bonds of the state 
  1.18  in an amount up to $40,000,000 in the manner, upon the terms, 
  1.19  and with the effect prescribed by Minnesota Statutes, sections 
  1.20  167.50 to 167.52, and by the Minnesota Constitution, article 
  1.21  XIV, section 11, at the times and in the amounts requested by 
  1.22  the commissioner of transportation.  The proceeds of the bonds, 
  1.23  except accrued interest and any premium received from the sale 
  1.24  of the bonds, must be deposited in the bond proceeds account in 
  1.25  the trunk highway fund.