HF 3049

as introduced - 90th Legislature (2017 - 2018) Posted on 02/26/2018 02:28pm

A bill for an act
relating to highways; capital investment; appropriating money for a county state-aid
highway realignment; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CHIPPEWA COUNTY STATE-AID HIGHWAY 4 REALIGNMENT;
APPROPRIATION AND BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,013,000 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 a grant to Chippewa County for design, engineering,
property acquisition, construction, and reconstruction to realign a segment of Chippewa
County State-Aid Highway 4 onto 60th Avenue Southeast and Swift Avenue in and adjacent
to the city of Maynard. This appropriation is available when the commissioner of management
and budget determines that sufficient resources have been committed to complete the project
as required by Minnesota Statutes, section 16A.502.
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 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 $1,013,000 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 the bond proceeds account in the state transportation 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