HF 2326

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/01/2023 10:10am

A bill for an act
relating to transportation; appropriating money for safety and access improvements
to U.S. Highway 10 between the cities of Clear Lake and St. Cloud; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin U.S. HIGHWAY 10 SAFETY AND ACCESS IMPROVEMENTS;
APPROPRIATIONS AND BOND SALE AUTHORIZATIONS.
new text end

new text begin Subdivision 1. new text end

new text begin Trunk highway bonds appropriation. new text end

new text begin $26,260,000 is appropriated
from the bond proceeds account in the trunk highway fund to the commissioner of
transportation for environmental analysis, right-of-way acquisition, predesign, design,
engineering, and reconstruction of U.S. Highway 10 between the cities of Clear Lake and
St. Cloud to improve safety and access along the highway corridor. This appropriation is
for the portion of Phase One of the project that is eligible for use of proceeds of trunk
highway bonds.
new text end

new text begin Subd. 2. new text end

new text begin Trunk highway 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 $26,260,000
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 General obligation bonds appropriation. new text end

new text begin $2,740,000 is appropriated from
the bond proceeds account in the state transportation fund to the commissioner of
transportation for environmental analysis, right-of-way acquisition, predesign, design,
engineering, and reconstruction of U.S. Highway 10 between the cities of Clear Lake and
St. Cloud to improve safety and access along the highway corridor. This appropriation is
for the portion of Phase One of the project that is eligible for use of proceeds of general
obligation bonds.
new text end

new text begin Subd. 4. new text end

new text begin General obligation bond sale. new text end

new text begin To provide the money appropriated in subdivision
3 from the bond proceeds fund, the commissioner of management and budget shall sell and
issue bonds of the state in an amount up to $2,740,000 in the manner, upon the terms, and
with the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
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