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HF 1212

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/22/2021 04:18pm

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4 1.5
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A bill for an act
relating to capital investment; appropriating money for an interchange at U.S.
Highway 169 and Sherburne County State-Aid Highway 4 in the city of
Zimmerman; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginSHERBURNE COUNTY; ZIMMERMAN INTERCHANGE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriations. new text end

new text begin (a) $22,600,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to Sherburne County for property
acquisition, engineering, and construction for the local road portions of an interchange at
marked U.S. Highway 169 and Sherburne County State-Aid Highway 4 in the city of
Zimmerman. This grant is available after the commissioner of management and budget
determines that an amount sufficient to complete the project has been committed to the
project, as required by Minnesota Statutes, section 16A.502.
new text end

new text begin (b) $16,400,000 is appropriated from the bond proceeds account in the trunk highway
fund to the commissioner of transportation for property acquisition, engineering, and
construction of the trunk highway portions of an interchange at marked U.S. Highway 169
and Sherburne County State-Aid Highway 4 in the city of Zimmerman.
new text end

new text begin Subd. 2. new text end

new text begin Bond sales. new text end

new text begin (a) To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue bonds
of the state in any amount up to $22,600,000 in the manner, upon the terms, and with the
effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
new text end

new text begin (b) To provide the money appropriated in this section from the bond proceeds account
in the trunk highway fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $16,400,000 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 from the sale of the bonds, must be deposited in 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