1.1 	A bill for an act
1.2 	relating to highways; appropriating money to match federal funds for highway 
1.3 	purposes; authorizing sale of trunk highway bonds; establishing Minnesota 
1.4 	highway trust account in the trunk highway fund;proposing coding for new 
1.5 	law in Minnesota Statutes, chapter 167.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. FEDERAL-MATCH HIGHWAY PROJECTS.
 1.8 		Subdivision 1.Appropriation. $16,000,000 is appropriated from the bond proceeds 
1.9 	account in the trunk highway fund to the commissioner of transportation as follows: 
1.10 	(1) $6,000,000 to match federal funds and to accelerate by two years the marked 
1.11 	Trunk Highway 53 project to the year 2010;
1.12 	(2) $2,000,000 to match federal funds and to accelerate by two years a marked 
1.13 	Trunk Highway 169 project to the year 2011;
1.14 	(3) $2,000,000 to match federal funds and to accelerate by two years an additional 
1.15 	marked Trunk Highway 169 project to the year 2010; and 
1.16 	(4) $6,000,000 to match federal funds for the marked Trunk Highway 610 project. 
1.17 		Subd. 2.Bond sale. To provide the money appropriated in this act from the trunk 
1.18 	highway fund, the commissioner of finance shall sell and issue bonds of the state in an 
1.19 	amount up to $16,000,000 in the manner, upon the terms, and with the effect prescribed by 
1.20 	Minnesota Statutes, sections 167.50 to 167.52, and by the Minnesota Constitution, article 
1.21 	XIV, section 11. The proceeds of the bonds, except accrued interest and any premium 
1.22 	received on the sales of the bonds, must be credited to a bond proceeds account in the 
1.23 	trunk highway fund. 

2.1 	EFFECTIVE DATE. This section is effective the day following final enactment. 

2.2 	Sec. 2. [167.53] MINNESOTA HIGHWAY TRUST ACCOUNT.
2.3 	(a) The Minnesota highway trust account is established in the Minnesota trunk 
2.4 	highway fund. The account consists of federal highway aid and matching state 
2.5 	appropriations for specific designated highway projects not currently being expended for 
2.6 	those highway projects. 
2.7 	(b) If the commissioner of transportation certifies to the Minnesota State Board of 
2.8 	Investment that money in the account is not required for immediate use, the board may 
2.9 	invest the certified amount as other highway funds are invested under section 11A.21, 
2.10 	subject to section 11A.25.
2.11 	(c) Any interest, premiums, dividends, or other investment proceeds pursuant to 
2.12 	paragraph (b) must be deposited in the trust account.

2.13 	EFFECTIVE DATE. This section is effective July 1, 2007.