HF 2568

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

A bill for an act
relating to transportation; authorizing sale of state transportation bonds;
appropriating money for completion of the Ring Road project in the city of Eagan.

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

Section 1. new text begin EAGAN RING ROAD PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $14,100,000 is appropriated from the state
transportation fund for completing the Ring Road project in the city of Eagan consisting
of the construction of the Northwood Parkway bridge overpass over marked Interstate
Highway 35E (I-35E), the Duckwood Drive bridge over I-35E, and the Duckwood
Drive/I-35E interchange. The project is necessary to facilitate the expansion, relocation,
and consolidation of U.S. Postal Service facilities in and to the city of Eagan and to relieve
traffic congestion near the interchange of I-35E with County State-Aid Highway 31 (Pilot
Knob Road), and County State-Aid Highway 28 (Yankee Doodle Road).
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 this section from the
state transportation fund, the commissioner of finance shall sell and issue bonds of the
state in an amount up to $14,100,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675 and 174.51, 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.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective the day following final enactment.
new text end