HF 1867

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:56am

A bill for an act
relating to highways; appropriating money for adding a lane to a portion of
Interstate Highway 494; authorizing sale of trunk highway bonds.

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

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

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $100,000,000 is appropriated from the bond
proceeds account in the trunk highway fund to the commissioner of transportation,
for reconstruction of marked Interstate Highway 494, to add additional lanes from
the interchange at marked Trunk Highway 55 to the interchange at marked Interstate
Highways 694 and 94.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale authorization. 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 finance shall sell and issue bonds of the state in an amount up to $100,000,000 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 EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end