HF 2507

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital investment; authorizing spending to acquire and better public
land and buildings and other improvements of a capital nature; authorizing
the issuance of state bonds; appropriating money for highway interchange
improvements in Arden Hills.

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

Section 1. new text begin ARDEN HILLS, COUNTY ROAD H AND I-35 INTERCHANGE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $34,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Arden Hills to acquire right-of-way and to predesign, design, and construct public
improvements for the County Road H and marked Interstate Highway 35W interchange
and the County Road 96 and marked Trunk Highway 10 interchange.
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 by subdivision 1 from the
bond proceeds fund, the commissioner of finance shall sell and issue bonds of the state in
an amount up to $34,000,000 in the manner, on 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