HF 3756

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to highways; authorizing sale of trunk highway bonds for improvements
to marked Interstate Highway 494.

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

Section 1. new text begin MARKED INTERSTATE HIGHWAY 494; BONDS AUTHORIZED.
new text end

new text begin Subdivision 1. new text end

new text begin APPROPRIATION. new text end

new text begin $180,000,000, or so much of that amount as is
necessary to pay project costs not paid from federal highway aid, is appropriated from
the trunk highway fund to the commissioner of transportation for the reconstruction of
marked Interstate Highway 494 from its intersection with marked Interstate Highway 94
in Maple Grove to its intersection with marked Interstate Highway 394 in Minnetonka, by:
new text end

new text begin (1) reconstructing the Fish Lake interchange at the intersection of marked Interstate
Highways 494 and 94 in Maple Grove;
new text end

new text begin (2) adding a third lane in each direction between marked Interstate Highway 494 in
Maple Grove and marked Trunk Highway 55 in Plymouth; and
new text end

new text begin (3) adding a fourth lane in each direction between marked Trunk Highway 55 in
Plymouth and marked Interstate Highway 394 in Minnetonka.
new text end

new text begin This appropriation is available until spent.
new text end

new text begin Subd. 2. new text end

new text begin BOND AUTHORIZATION. new text end

new text begin To provide the money appropriated in
subdivision 1 from the trunk highway fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $180,000,000 in the manner, upon 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 on the sale of the bonds, must be credited to
the trunk highway fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective the day following final enactment.
new text end