HF 1941

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/04/2021 02:48pm

A bill for an act
relating to transportation; appropriating money to construct a bridge over the Red
River in East Grand Forks; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin RED RIVER BRIDGE; APPROPRIATION AND TRUNK HIGHWAY
BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $....... is appropriated from the bond proceeds account
in the trunk highway fund to the commissioner of transportation for a grant to the city of
East Grand Forks to construct a bridge over the Red River connecting the southern portion
of the cities of East Grand Forks and Grand Forks at the border of Minnesota and North
Dakota.
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 $....... 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