HF 1388

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

  1.1                          A bill for an act
  1.2             relating to highways; authorizing state bonds for 
  1.3             improvements to Washington county state-aid highway 8 
  1.4             and Anoka county state-aid highway 14; appropriating 
  1.5             money. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [COUNTY STATE-AID HIGHWAY PROJECT; 
  1.8   APPROPRIATION.] 
  1.9      $100,000,000 is appropriated from the bond proceeds fund to 
  1.10  the commissioner of transportation for transfer to the local 
  1.11  road improvement fund under Minnesota Statutes, section 174.52. 
  1.12  Of this amount: 
  1.13     (1) $50,000,000 must be deposited in the trunk highway 
  1.14  corridor projects account; and 
  1.15     (2) $50,000,000 must be deposited in the local road account 
  1.16  for routes of regional significance. 
  1.17     Sec. 2.  [BOND SALE.] 
  1.18     To provide the money appropriated by section 1 from the 
  1.19  bond proceeds fund, the commissioner of finance shall sell and 
  1.20  issue bonds of the state in an amount up to $100,000,000 in the 
  1.21  manner, on the terms, and with the effect prescribed by 
  1.22  Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  1.23  Minnesota Constitution, article XI, sections 4 to 7.