HF 2803

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; authorizing issuance of state bonds and
appropriating proceeds for local bridges and the local road improvement fund;
appropriating money.

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

Section 1. new text begin APPROPRIATIONS.
new text end

new text begin Subdivision 1. new text end

new text begin Local bridges. new text end

new text begin $90,000,000 is appropriated from the state
transportation fund to the commissioner of transportation. The commissioner shall spend
this appropriation as grants to political subdivisions for the replacement, rehabilitation,
and repair of key bridges on the state transportation system. The commissioner shall
make these grants in accordance with and for the purposes of Minnesota Statutes, section
174.50. Political subdivisions may use grants under this section for the replacement,
rehabilitation, or repair of bridges, including but not limited to:
new text end

new text begin (1) matching federal grants for bridge replacement, rehabilitation, or repair;
new text end

new text begin (2) paying the costs of abandoning an existing bridge that is deficient and in need
of replacement, but where no replacement will be made;
new text end

new text begin (3) paying the costs of constructing a road or street that would facilitate the
abandonment of an existing bridge determined by the commissioner of transportation to
be deficient, if the commissioner determines that construction of the road or street is more
cost-efficient than replacing the existing bridge; and
new text end

new text begin (4) paying costs authorized by Minnesota Statutes, section 174.50, subdivision 6a.
new text end

new text begin Subd.2. new text end

new text begin Local road improvement fund. new text end

new text begin The following amounts are appropriated to
the commissioner of transportation from the local road improvement fund:
new text end

new text begin (1) $112,000,000 is appropriated from the local road account for routes of regional
significance in the local road improvement fund for the purposes of Minnesota Statutes,
section 174.52, subdivision 4.
new text end

new text begin (2) $47,000,000 is appropriated from the rural road safety account in the local road
improvement fund for the purposes of Minnesota Statutes, section 174.52, subdivision 4a.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin new text end

new text begin Subdivision 1. new text end

new text begin State transportation bonds. new text end

new text begin To provide the money appropriated
from the state transportation fund under section 1, subdivision 1, the commissioner of
finance shall, on request of the commissioner of transportation, issue and sell Minnesota
state transportation bonds for the purposes provided in Minnesota Statutes, section 174.51,
subdivision 1, in the aggregate principal amount of $90,000,000, in the manner and on
the conditions prescribed in Minnesota Statutes, section 174.51, and in the Minnesota
Constitution, article XI. The proceeds of the bonds must be deposited in the Minnesota
state transportation fund for expenditure in accordance with section 1, subdivision 1, and
with Minnesota Statutes, section 174.50.
new text end

new text begin Subd. 2. new text end

new text begin General obligation bonds. new text end

new text begin To provide the money appropriated from
the local road improvement fund under section 1, subdivision 2, the commissioner of
finance shall, on request of the commissioner of transportation, sell and issue bonds of the
state in an amount up to $159,000,000 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. Of this amount, the commissioner shall deposit
$47,000,000 in the rural road safety account and $112,000,000 in the local road account
for routes of regional significance.
new text end