HF 3105

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

A bill for an act
relating to highways; authorizing sale of trunk highway bonds to finance
completion of highway 610; appropriating money.

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

Section 1. new text begin HIGHWAY 610 CONSTRUCTION PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $110,000,000 is appropriated from the bond
proceeds account in the trunk highway fund to the commissioner of transportation to
match federal funds and to complete the construction of marked Trunk Highway 610.
new text end

new text begin Subd. 2. new text end

new text begin Trunk highway bond sale. 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 $110,000,000 in the
manner, on 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

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end