HF 3353

as introduced - 88th Legislature (2013 - 2014) Posted on 04/23/2014 12:07pm

A bill for an act
relating to transportation; capital investment; appropriating money for capital
improvements at the intersection of Hennepin County State-Aid Highway 102
and marked Trunk Highway 55 in Golden Valley; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin HENNEPIN COUNTY STATE-AID HIGHWAY 102 INTERSECTION
IMPROVEMENTS; 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 $6,200,000 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 the city of Golden Valley for capital
improvements, including road reconstruction, a pedestrian underpass, and transit facilities,
at or near the intersection of marked Trunk Highway 55 and Hennepin County State-Aid
Highway 102, also known as Douglas Drive.
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 $6,200,000 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