HF 434

as introduced - 88th Legislature (2013 - 2014) Posted on 02/11/2013 02:11pm

A bill for an act
relating to capital investment; appropriating money for the rehabilitation of the
Franklin Avenue Bridge; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin FRANKLIN AVENUE BRIDGE REHABILITATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $11,750,000 is appropriated from the bond proceeds
account in the state transportation fund to the commissioner of transportation for a grant
to Hennepin County for rehabilitation of the Franklin Avenue Bridge in the city of
Minneapolis. This appropriation may be used for replacement of the deck, sidewalks,
railings, and cap beams; patching at deteriorated locations such as piers, arch ribs, spandrel
columns, cap beams, and abutments; and providing for corrosion mitigation.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
state transportation fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $11,750,000 in the manner, upon the terms, and
with the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by
the Minnesota Constitution, article XI, sections 4 to 7. The proceeds of the bonds, except
accrued interest and any premium received on the sale of the bonds, must be credited to
the bond proceeds account in the state transportation 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