HF 315

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to highways; authorizing issuance of trunk 
  1.3             highway bonds for improvements to marked Trunk Highway 
  1.4             65. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [TRUNK HIGHWAY 65; BONDS AUTHORIZED.] 
  1.7      $75,000,000, or so much of that amount as is necessary to 
  1.8   pay project costs not paid from federal highway aid, is 
  1.9   appropriated from the trunk highway fund to the commissioner of 
  1.10  transportation for the construction of marked Trunk Highway 65, 
  1.11  from marked Interstate Highway 694 to 245th Avenue in East 
  1.12  Bethel, as a divided highway with at least three lanes of travel 
  1.13  in each direction.  This appropriation is available until spent. 
  1.14     Sec. 2.  [BOND AUTHORIZATION.] 
  1.15     To provide the money appropriated in this act from the 
  1.16  trunk highway fund, the commissioner of finance shall sell and 
  1.17  issue bonds of the state in an amount up to $75,000,000 in the 
  1.18  manner, upon the terms, and with the effect prescribed by 
  1.19  Minnesota Statutes, sections 167.50 to 167.52, and by the 
  1.20  Minnesota Constitution, article XIV, section 11, at the times 
  1.21  and in the amounts requested by the commissioner of 
  1.22  transportation.  The proceeds of the bonds, except accrued 
  1.23  interest and any premium received on the sale of the bonds, must 
  1.24  be credited to the trunk highway fund. 
  1.25     Sec. 3.  [EFFECTIVE DATE.] 
  2.1      Sections 1 and 2 are effective the day following final 
  2.2   enactment.