HF 3983

as introduced - 90th Legislature (2017 - 2018) Posted on 03/19/2018 03:04pm

A bill for an act
relating to capital investment; appropriating money for construction of an
interchange near the city of Glenwood; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin INTERCHANGE CONSTRUCTION AND RAIL GRADE SEPARATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $12,000,000 is appropriated to the commissioner of
transportation for construction of the interchange at marked Trunk Highway 55 and marked
Trunk Highway 29 near the city of Glenwood, including grade separation of the adjacent
rail crossing of marked Trunk Highway 29. Of this appropriation, $1,500,000 is from the
bond proceeds fund and $10,500,000 is from the general fund.
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 $1,500,000 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