HF 815

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; appropriating money 
  1.3             for the removal and replacement of the Wabasha Street 
  1.4             bridge in St. Paul; authorizing the issuance of state 
  1.5             bonds. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [APPROPRIATION.] 
  1.8      (a) $3,000,000 is appropriated from the state 
  1.9   transportation fund to the commissioner of transportation for 
  1.10  the removal and replacement of the Wabasha Street bridge over 
  1.11  the Mississippi river in St. Paul.  This money is a match to 
  1.12  federal funds authorized for the same purpose. 
  1.13     (b) To provide the money appropriated in this act from the 
  1.14  state transportation fund, the commissioner of finance, on 
  1.15  request of the governor, shall sell and issue bonds of the state 
  1.16  in an amount up to $3,000,000 in the manner, upon the terms, and 
  1.17  with the effect prescribed by Minnesota Statutes, sections 
  1.18  16A.631 to 16A.675, and by the Minnesota Constitution, article 
  1.19  XI, sections 4 to 7.  The proceeds of the bonds, except accrued 
  1.20  interest and any premium received on the sale of the bonds, must 
  1.21  be credited to a bond proceeds account in the state 
  1.22  transportation fund.