as introduced - 89th Legislature (2015 - 2016) Posted on 01/14/2015 11:08am
Engrossments | ||
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Introduction | Posted on 01/14/2015 |
A bill for an act
relating to transportation; capital investment; appropriating money for expansion
of a segment of marked U.S. Highway 14; authorizing the sale and issuance of
state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$137,000,000 is appropriated from the bond
proceeds account in the trunk highway fund to the commissioner of transportation for
design, engineering, right-of-way acquisition, and construction to expand marked U.S.
Highway 14 to a four-lane divided highway from the intersection with marked Trunk
Highway 15 to the city of Nicollet.
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To provide the money appropriated in subdivision 1 from the
bond proceeds account in the trunk highway fund, the commissioner of management and
budget shall sell and issue bonds of the state in an amount up to $137,000,000 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 from the sale of the bonds, must
be deposited in the bond proceeds account in the trunk highway fund.
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This section is effective the day following final enactment.
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