HF 566

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to highways; appropriating money for highway 3 in Dakota County;
authorizing sale of trunk highway bonds.

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

Section 1. new text begin HIGHWAY 3.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $25,000,000 is appropriated from the bond
proceeds account in the trunk highway fund to the commissioner of transportation
for design, planning, engineering, lane additions, and safety improvements for marked
Trunk Highway 3 from its intersection with Dakota County Highway 46 southerly to its
intersection with the border of Dakota and Rice Counties.
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 act from the trunk
highway fund, the commissioner of finance shall sell and issue bonds of the state in an
amount up to $25,000,000 in the manner, upon the terms, and with the effect prescribed
by Minnesota Statutes, sections 167.50 and 167.51, and by the Minnesota Constitution,
article XIV, section 11. The proceeds of the bonds, except accrued interest and any
premium received on the sales of the bonds, must be credited to a bond proceeds account
in the trunk highway fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective the day following final enactment.
new text end