Minnesota Legislature
HF 4285
as introduced - 92nd Legislature (2021 - 2022) Posted on 03/14/2022 03:09pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 03/14/2022 |
Current Version - as introduced
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A bill for an act
relating to transportation; appropriating money for improvements to Trunk Highway
65 and intersection improvements at 99th Avenue Northeast in the city of Blaine;
authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin TRUNK HIGHWAY 65 IMPROVEMENTS; APPROPRIATION AND
BOND SALE AUTHORIZATION.
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 bond proceeds
account in the trunk highway fund to the commissioner of transportation for one or more
grants to the city of Blaine for the predesign, right-of-way acquisition, design, engineering,
and construction of intersection improvements along Trunk Highway 65 at 99th Avenue
Northeast and the associated frontage roads and backage roads within the trunk highway
system. This appropriation is for the portion of the project that is eligible for use of proceeds
of trunk highway bonds. This appropriation does not require a nonstate contribution.
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 subdivision 1 from the bond
proceeds account in the trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state 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 from the sale of the bonds, must be deposited in the bond
proceeds account in 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
Sec. 2. new text begin TRUNK HIGHWAY 65 INTERSECTION IMPROVEMENTS;
APPROPRIATION AND BOND SALE AUTHORIZATION.
new text end
new text begin Subdivision 1. new text end
new text begin Appropriation. new text end
new text begin
$10,000,000 is appropriated from the bond proceeds
account in the state transportation fund to the commissioner of transportation for one or
more grants to the city of Blaine for the predesign, right-of-way acquisition, design,
engineering, and construction of intersection improvements along Trunk Highway 65 at
99th Avenue Northeast and the associated frontage roads, backage roads, connecting local
streets, and utility infrastructure improvements, if necessary or required for the construction.
This appropriation is for the portion of the project that is eligible for use of proceeds of
general obligation bonds. This appropriation does not require a nonstate contribution.
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 account in the state transportation fund, the commissioner of management and
budget shall sell and issue bonds of the state in an amount up to $10,000,000 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