HF 365

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

A bill for an act
relating to highways; authorizing trunk highway bonds
to finance completion of highway 610; appropriating
money.

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

Section 1. new text begin TRUNK HIGHWAY APPROPRIATION.
new text end

new text begin $150,000,000 is appropriated from the bond proceeds account
in the trunk highway fund to the commissioner of transportation
for completing the construction of marked Trunk Highway 610.
new text end

Sec. 2. new text begin TRUNK HIGHWAY BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the
bond proceeds account in the trunk highway fund, the
commissioner of finance shall sell and issue bonds of the state
in an amount up to $150,000,000 in the manner, on 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.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day
following final enactment.
new text end