HF 2759

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

A bill for an act
relating to transportation; appropriating money for Trunk Highway 8
improvements in the city of Lindstrom; authorizing sale of trunk highway bonds.

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

Section 1. new text begin TRUNK HIGHWAY 8 IMPROVEMENTS; LINDSTROM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $830,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for improvements
to marked Trunk Highway 8 in Lindstrom. Of this amount, $780,000 is to design and
construct a replacement bridge for marked Trunk Highway 8 over the water channel
between South and North Lindstrom Lakes in Lindstrom, and $50,000 is to dredge the
channel under a new bridge for marked Trunk Highway 8 between South and North
Lindstrom Lakes in Lindstrom. This appropriation is not available until the commissioner
of finance determines that at least an equal amount is committed to the project from
nonstate sources.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale authorization. new text end

new text begin To provide the money appropriated in
subdivision 1 from the bond proceeds account in the trunk highway fund, the commissioner
of finance shall sell and issue bonds of the state in an amount up to $830,000 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 on the sale of the bonds, must be
credited to the bond proceeds account in the trunk highway fund.
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