HF 73

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to highways; authorizing issuance of trunk
highway bonds for improvements to marked Trunk Highway
65.

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

Section 1. new text begin TRUNK HIGHWAY 65; BONDS AUTHORIZED.
new text end

new text begin $75,000,000, or so much of that amount as is necessary to
pay project costs not paid from federal highway aid, is
appropriated from the trunk highway fund to the commissioner of
transportation for the construction of marked Trunk Highway 65,
from marked Interstate Highway 694 to 245th Avenue in East
Bethel, as a divided highway with at least three lanes of travel
in each direction. This appropriation is available until spent.
new text end

Sec. 2. new text begin BOND AUTHORIZATION.
new text end

new text begin To provide the money appropriated in this act from the
trunk highway fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $75,000,000 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. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final
enactment.
new text end