HF 3923

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/19/2024 02:12pm

A bill for an act
relating to capital investment; appropriating money for town roads and bridges;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin TOWN ROADS AND BRIDGES; APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Town roads and bridges; appropriation. new text end

new text begin $35,000,000 is appropriated
from the bond proceeds fund to the commissioner of transportation for town roads and
bridges, to be distributed in the manner provided under Minnesota Statutes, section 162.081.
Of this amount, $25,000,000 is for town roads and $10,000,000 is for town bridges.
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 $35,000,000 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