HF 3695

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/13/2024 03:51pm

A bill for an act
relating to capital investment; appropriating money for local road improvements
related to the reconstruction of Trunk Highway 5 in the city of Waconia; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin WACONIA; TRUNK HIGHWAY 5 RECONSTRUCTION; LOCAL
ROAD IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,700,000 is appropriated from the bond proceeds fund
to the commissioner of transportation for a grant to the city of Waconia to design, engineer,
construct, and reconstruct local road improvements related to the reconstruction of marked
Trunk Highway 5 from the intersection with marked Trunk Highway 284 and South Olive
Street to the intersection with Carver County State-Aid Highway 59, known as Main Street,
in Waconia. For the purposes of this subdivision, "local road improvements" includes but
is not limited to frontage roads, backage roads, connecting local streets, trails, and utility
infrastructure that are eligible for the use of proceeds of general obligation bonds.
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 this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $4,700,000 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.
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