HF 2753

1st Engrossment - 86th Legislature (2009 - 2010) Posted on 04/15/2010 01:12pm

A bill for an act
relating to transportation; authorizing issuance and sale of trunk highway bonds;
appropriating money.

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

Sec. 1. new text begin STATE ROAD CONSTRUCTION APPROPRIATION.
new text end

new text begin $30,000,000 is appropriated from the bond proceeds account in the trunk highway
fund in fiscal year 2011 to the commissioner of transportation for the actual construction,
reconstruction, and improvement of trunk highways, including design-build contracts and
consultant usage to support these activities. This includes the cost of actual payments to
landowners for lands acquired for highway rights-of-way, payments to lessees, interest
subsidies, and relocation expenses. The commissioner may use up to $5,100,000 of this
amount for program delivery.
new text end

Sec. 2. new text begin INTERCHANGE ACCOUNT APPROPRIATION.
new text end

new text begin $70,000,000 is appropriated from the bond proceeds account in the trunk highway
fund in fiscal year 2011 to the commissioner of transportation for construction of
interchanges involving a trunk highway, where the interchange will promote economic
development, increase employment, relieve growing traffic congestion, and promote traffic
safety. The amount under this paragraph must be allocated 50 percent to the department's
metropolitan district, and 50 percent to districts in greater Minnesota.
new text end

Sec. 3. new text begin BOND SALE EXPENSES.
new text end

new text begin $100,000 is appropriated from the bond proceeds account in the trunk highway fund
in fiscal year 2011 to the commissioner of finance for bond sale expenses under Minnesota
Statutes, sections 16A.641, subdivision 8, and 167.50, subdivision 4.
new text end

Sec. 4. new text begin TRUNK HIGHWAY BONDS AUTHORIZATION.
new text end

new text begin To provide the money appropriated in sections 1, 2, and 3 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 $100,100,000 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

Sec. 5. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 4 are effective the day following final enactment.
new text end