1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money
1.3 	for construction of certain interchanges on marked
1.4 	Interstate Highway 35E; authorizing the issuance of
1.5 	state trunk highway bonds.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. APPROPRIATION; ANOKA COUNTY INTERCHANGES.
 1.8 	$40,000,000 is appropriated from the bond proceeds account
1.9 	in the trunk highway fund to the commissioner of transportation
1.10 	to be spent as follows:
1.11 	(1) $20,000,000 for construction of a new interchange on
1.12 	marked Interstate Highway 35E at its intersection with Anoka
1.13 	County State-Aid Highway 14 (Main Street) in Lino Lakes; and 
1.14 	(2) $20,000,000 for construction of a new interchange on
1.15 	marked Interstate Highway 35E at its intersection with marked
1.16 	Trunk Highway 97 (Lake Drive) in Columbus Township.

1.17 	Sec. 2. BOND SALE.
 1.18 	To provide the money appropriated by section 1 from the
1.19 	bond proceeds account in the trunk highway fund, the
1.20 	commissioner of finance shall sell and issue bonds of the state
1.21 	in an amount up to $40,000,000 in the manner, on the terms, and
1.22 	with the effect prescribed by Minnesota Statutes, sections
1.23 	167.50 to 167.52, and by the Minnesota Constitution, article
1.24 	XIV, section 11, at the times and in the amounts requested by
1.25 	the commissioner of transportation.  The proceeds of the bonds,
2.1 	except accrued interest and any premium received on the sale of
2.2 	the bonds, must be credited to the bond proceeds account in the
2.3 	trunk highway fund.

2.4 	Sec. 3. EFFECTIVE DATE.
 2.5 	Sections 1 and 2 are effective the day following final
2.6 	enactment.