HF 701

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

A bill for an act
relating to capital investment; appropriating money for Mankato district
transportation headquarters; authorizing sale of trunk highway bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Mankato district headquarters. new text end

new text begin $20,673,000 is appropriated
from the bond proceeds account in the trunk highway fund to the commissioner of
transportation to design, construct, furnish, and equip a new Department of Transportation
district headquarters facility in Mankato.
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 by subdivision 1 from the
bond proceeds account in the trunk highway fund, the commissioner of finance shall sell
and issue trunk highway bonds in an amount up to $20,673,000 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 on the sale of the bonds, must be credited to
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