SF 3574

Introduction - 84th Legislature (2005 - 2006)

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

A bill for an act
relating to transportation; authorizing sale of trunk highway bonds for French
Rapids bridge; appropriating money.

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

Section 1. new text begin FRENCH RAPIDS BRIDGE; BONDS AUTHORIZED.
new text end

new text begin new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $150,000, or so much of that amount as is necessary
to match federal funds, is appropriated from the trunk highway fund to the commissioner
of transportation for environmental study, corridor study and mapping, and right-of-way
acquisition for the French Rapids bridge over the Mississippi River north of the city of
Brainerd. This appropriation is available until spent.
new text end

new text begin Subd. 2. new text end

new text begin BOND AUTHORIZATION. new text end

new text begin To provide the money appropriated in
subdivision 1 from the trunk highway fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $150,000 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 on the sale of the bonds, must be credited to
the trunk highway fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective the day following final enactment.
new text end