HF 1569

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/04/2021 05:00pm

A bill for an act
relating to capital investment; appropriating money for reconstruction of marked
U.S. Highway 8; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MARKED U.S. HIGHWAY 8 RECONSTRUCTION; 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 $50,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for a grant to
Chisago County to predesign, design, engineer, and construct a reconstruction of marked
U.S. Highway 8 from Karmel Avenue in Chisago City to Interstate 35 and pedestrian and
bike trails along and crossings of this portion of U.S. Highway 8. This reconstruction may
include expanding segments of U.S. Highway 8 to four lanes, constructing or reconstructing
frontage roads and backage roads, and realigning local roads to consolidate, remove, and
relocate access onto and off of U.S. Highway 8. This appropriation is for the portion of the
project that is eligible for use of proceeds of trunk highway bonds. This appropriation is
not available until the commissioner of management and budget determines that sufficient
resources have been committed from nonstate sources to complete the project. This
appropriation is available until the project is completed or abandoned.
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 in the trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $50,000,000 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 Subd. 3. new text end

new text begin Marked U.S. Highway 8 reconstruction; application of planned
spending. new text end

new text begin Amounts planned by the Department of Transportation for the resurfacing of
U.S. Highway 8, as reflected in the department's Metro District 10-Year Capital Highway
Investment Plan 2020-2029, shall instead be applied to the reconstruction of U.S. Highway
8 to supplement appropriations for that purpose from any fund in this section.
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