HF 1360

as introduced - 89th Legislature (2015 - 2016) Posted on 03/02/2015 01:26pm

A bill for an act
relating to transportation; capital investment; appropriating money from the state
transportation fund for repair and rehabilitation of the 10th Avenue bridge in
Minneapolis; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin APPROPRIATION AND BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $42,500,000 is appropriated from the bond proceeds
account in the state transportation fund to repair and rehabilitate the bridge over the
Mississippi River that is aligned on the east side of the river with 10th Avenue, also
designated Route 328, on the municipal state-aid system. This appropriation does not
require a local match.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivision 1 from the
bond proceeds account, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $42,500,000 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, at the times and in the amounts
requested by the commissioner of transportation.
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