HF 798

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

A bill for an act
relating to highways; authorizing state bonding for
improvements to marked Trunk Highway 65 to facilitate
bus rapid transit.

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

Section 1. new text begin APPROPRIATION; BUS RAPID TRANSIT.
new text end

new text begin $750,000 is appropriated from the bond proceeds account in
the trunk highway fund to the commissioner of transportation in
fiscal year 2006 for roadway and shoulder improvements to marked
Trunk Highway 65 between marked Interstate Highway 694 and
marked Trunk Highway 242, to facilitate implementation and
operation of bus rapid transit in that highway corridor.
new text end

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

new text begin The commissioner of finance shall sell and issue bonds of
the state in an amount up to $750,000 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 a bond proceeds
account in the trunk highway fund.
new text end