HF 688

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

A bill for an act
relating to capital improvements; appropriating money
for reconstruction of railroad bridge crossing in city
of Golden Valley; authorizing issuance of state
transportation bonds.

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

Section 1. new text begin APPROPRIATION; GOLDEN VALLEY RAILROAD BRIDGE
CROSSING.
new text end

new text begin $953,000 is appropriated from the bond proceeds account in
the state transportation fund to the commissioner of
transportation for a grant to the city of Golden Valley to
reconstruct the Canadian Pacific Railroad bridge crossing,
including associated storm sewer work, as provided in Minnesota
Statutes, section 174.50.
new text end

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

new text begin To provide the money appropriated in section 1 from the
state transportation fund, the commissioner of finance shall
sell and issue bonds of the state in an amount up to $953,000 in
the manner, on 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 a bond
proceeds account in the state transportation fund.
new text end

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final
enactment.
new text end