as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:31pm
Engrossments | ||
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Introduction | Posted on 01/08/2010 |
A bill for an act
relating to transportation; authorizing sale and issuance of general obligation
bonds for local roads and bridges.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) $15,000,000 is appropriated from the bond
proceeds account in the state transportation fund as provided in Minnesota Statutes,
section 174.50, to the commissioner of transportation, for construction or reconstruction
of local roads with statewide or regional significance under Minnesota Statutes, section
174.52, subdivision 4.
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(b) Of the amount specified in paragraph (a), $850,000 is for reconstruction of
Mahnomen County Road 145 in the city of Mahnomen.
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To provide the money appropriated in
subdivision 1 from the bond proceeds account in the state transportation fund, the
commissioner of management and budget shall sell and issue bonds of the state in an
amount up to $15,000,000 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. The proceeds of the bonds, except accrued interest and any
premium received on the sale of the bonds, must be credited to a bond proceeds account
in the state transportation fund.
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This section is effective the day following final enactment.
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