SF 3697

Introduction - 84th Legislature (2005 - 2006)

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

A bill for an act
relating to capital investment; appropriating money for trunk highway
improvements; authorizing sale of trunk highway bonds.

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

Section 1. new text begin APPROPRIATION; TRUNK HIGHWAY IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Trunk highway improvements. new text end

new text begin $1,222,000 is appropriated from the
bond proceeds account in the trunk highway fund to the commissioner of transportation.
Of that appropriation, $400,000 is for predesign, design, and construction of a noise barrier
where not currently erected along marked Trunk Highway 10 starting east of Airport
Road in Anoka County and extending to marked Interstate Highway I-35W. This amount
is in addition to any funds currently intended or agreed to be used by the commissioner
of transportation for the noise barrier project. Of that appropriation, $822,000 is for
preliminary engineering of (1) the interchange of marked Interstate Highway I-35W,
85th Avenue Northeast, and Lake Drive near the border of Anoka County and Ramsey
County; and (2) the interchange of marked Interstate Highway I-35W and marked Trunk
Highway 10.
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 by subdivision 1 from the
bond proceeds account in the trunk highway fund, the commissioner of finance shall sell
and issue trunk highway bonds in an amount up to $1,222,000 in the manner, on 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 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