1.1 	A bill for an act
1.2 	relating to transportation; appropriating money for grants under the transportation 
1.3 	economic development program; authorizing the sale and issuance of trunk highway 
1.4 	bonds.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. TRANSPORTATION ECONOMIC DEVELOPMENT PROGRAM.
 1.7 		Subdivision 1.Appropriation. $15,000,000 is appropriated from the bond proceeds 
1.8 	account in the trunk highway fund to the commissioner of transportation for the transportation 
1.9 	economic development program under Minnesota Statutes, section 174.12.
1.10 		Subd. 2.Bond sale. To provide the money appropriated in this section from the bond 
1.11 	proceeds account in the trunk highway fund, the commissioner of management and budget 
1.12 	must sell and issue bonds of the state in an amount up to $15,000,000 in the manner, upon 
1.13 	the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52, 
1.14 	and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts 
1.15 	requested by the commissioner of transportation. The proceeds of the bonds, except accrued 
1.16 	interest and any premium received from the sale of the bonds, must be deposited in the bond 
1.17 	proceeds account in the trunk highway fund.