HF 474

as introduced - 89th Legislature (2015 - 2016) Posted on 02/02/2015 01:36pm

A bill for an act
relating to transportation; capital investment; appropriating money for a railroad
grade separation project in Glenwood; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin APPROPRIATION AND BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
account to the commissioner of transportation for construction of the interchange at
marked Trunk Highway 55 and marked Trunk Highway 29 near Glenwood, including
grade separation of the adjacent rail crossing of marked Trunk Highway 29.
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 subdivision 1 from the
bond proceeds account, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $10,000,000 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, at the times and in the amounts
requested by the commissioner of transportation.
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