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HF 157

as introduced - 89th Legislature (2015 - 2016) Posted on 01/14/2015 10:47am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to transportation; capital investment; appropriating money for additional
lanes on a segment of U.S. Highway 10; authorizing sale and issuance of trunk
highway bonds.

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

Section 1. new text begin TRUNK HIGHWAY BONDS; 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 $30,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to add a third
travel lane in each direction of marked U.S. Highway 10 from the interchange with Hanson
Boulevard to the interchange with Round Lake Boulevard in the city of Coon Rapids.
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 this section from the
bonds 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 $30,000,000 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 on the sales of the bonds, must
be credited to a 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