HF 4054

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 interchange at
marked Interstate Highways 35W and 494; appropriating money.

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

Section 1. new text begin INTERCHANGE AT INTERSTATE HIGHWAYS 35W AND 494.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 is appropriated from the trunk highway
fund to the commissioner of transportation for construction of an interchange at marked
Interstate Highways 35W and 494 to promote safety and relieve traffic congestion.
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
trunk highway fund, the commissioner of finance shall sell and issue trunk highway
bonds in an amount up to $15,000,000 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

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end