HF 836

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing issuance 
  1.3             of trunk highway bonds; appropriating money for the 
  1.4             interchange project for highway I-94 at Century Avenue 
  1.5             and McKnight Road in Ramsey county. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [APPROPRIATION.] 
  1.8      $40,000,000 is appropriated from the bond proceeds account 
  1.9   in the trunk highway fund to the commissioner of transportation 
  1.10  for the interchange project for marked interstate highway 94 at 
  1.11  Century Avenue and McKnight Road in Ramsey county. 
  1.12     Sec. 2.  [BOND SALE.] 
  1.13     To provide the money appropriated in this act from the 
  1.14  trunk highway fund, the commissioner of finance shall sell and 
  1.15  issue bonds of the state in an amount up to $40,000,000 in the 
  1.16  manner, upon the terms, and with the effect prescribed by 
  1.17  Minnesota Statutes, sections 167.50 to 167.52, and by the 
  1.18  Minnesota Constitution, article XIV, section 11, at the times 
  1.19  and in the amounts requested by the commissioner of 
  1.20  transportation.  The proceeds of the bonds, except accrued 
  1.21  interest and any premium received on the sale of the bonds, must 
  1.22  be credited to the bond proceeds account in the trunk highway 
  1.23  fund.