1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for a new interchange at marked 
1.3 	Trunk Highway 36 and Lake Elmo Avenue in Washington County; authorizing 
1.4 	the sale and issuance of state bonds.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. LAKE ELMO; INTERCHANGE AT TRUNK HIGHWAY 36 AND LAKE 
1.7 	ELMO AVENUE.
 1.8 		Subdivision 1.Appropriation. $5,000,000 is appropriated from the bond proceeds 
1.9 	account in the state transportation fund, as provided in Minnesota Statutes, section 174.50, 
1.10 	to the commissioner of transportation for a grant to the city of Lake Elmo for property 
1.11 	acquisition and to predesign, design, construct, furnish, and equip a new interchange at 
1.12 	marked Trunk Highway 36 and Washington County State-Aid Highway 17, known as Lake 
1.13 	Elmo Avenue, in Washington County. This appropriation is for the city's share of the project 
1.14 	that is eligible to be funded with general obligation bonds.
1.15 		Subd. 2.Bond sale. To provide the money appropriated in this section from the bond 
1.16 	proceeds account in the state transportation fund, as provided in Minnesota Statutes, section 
1.17 	174.50, the commissioner of management and budget shall sell and issue bonds of the state 
1.18 	in an amount up to $5,000,000 in the manner, upon the terms, and with the effect prescribed 
1.19 	by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution, 
1.20 	article XI, sections 4 to 7.

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