HF 2341

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to highways; authorizing issuance of trunk 
  1.3             highway bonds for bridge repair, construction, and 
  1.4             reconstruction and for acquisition of right-of-way; 
  1.5             appropriating money. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [APPROPRIATIONS; TRUNK HIGHWAY BRIDGES AND 
  1.8   RIGHT-OF-WAY.] 
  1.9      $170,000,000 is appropriated from the trunk highway fund to 
  1.10  the commissioner of transportation.  This appropriation is 
  1.11  available until spent.  The commissioner shall spend this amount 
  1.12  as follows: 
  1.13     (1) $70,000,000 for the construction, reconstruction, and 
  1.14  repair of bridges on the trunk highway system; and 
  1.15     (2) $100,000,000 for acquisition of right-of-way for trunk 
  1.16  highway construction projects.  
  1.17     Sec. 2.  [BOND ISSUE AUTHORIZED.] 
  1.18     To provide the money appropriated under section 1, the 
  1.19  commissioner of finance, on request of the governor, shall sell 
  1.20  and issue Minnesota trunk highway bonds in an amount up to 
  1.21  $170,000,000 in the manner, upon the terms, and with the effect 
  1.22  prescribed by Minnesota Statutes, sections 167.50 to 167.52, and 
  1.23  article XIV, section 11, of the Minnesota Constitution.  The 
  1.24  proceeds of the bonds, except accrued interest and any premium 
  1.25  received on the sale of the bonds, must be credited to a bond 
  2.1   proceeds account in the trunk highway fund. 
  2.2      Sec. 3.  [EFFECTIVE DATE.] 
  2.3      Sections 1 and 2 are effective July 1, 1999.