HF 720

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

A bill for an act
relating to highways; authorizing issuance of trunk
highway bonds for improvements to marked Trunk Highway
10; appropriating money.

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

Section 1. new text begin TRUNK HIGHWAY 10; BONDS AUTHORIZED.
new text end

new text begin $2,500,000 is appropriated from the trunk highway fund to
the commissioner of transportation for constructing the
intersection of marked Trunk Highway 10, with County Road 81 and
200th Street in Big Lake Township. This appropriation is
available until spent.
new text end

Sec. 2. new text begin BOND AUTHORIZATION.
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 $2,500,000 in the
manner, upon 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 trunk highway 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