HF 574

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to highways; authorizing state trunk highway 
  1.3             bonds for reconstruction and expansion of marked trunk 
  1.4             highway 100 in St. Louis Park; appropriating money. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION; TRUNK HIGHWAY 100.] 
  1.7      $60,000,000 is appropriated from the bond proceeds account 
  1.8   in the trunk highway fund to the commissioner of transportation 
  1.9   for the reconstruction and expansion of marked trunk highway 100 
  1.10  from marked interstate highway 394 to West 36th Street in St. 
  1.11  Louis Park. 
  1.12     Sec. 2.  [BOND SALE AUTHORIZATION.] 
  1.13     The commissioner of finance shall sell and issue bonds of 
  1.14  the state in an amount up to $60,000,000 in the manner, upon the 
  1.15  terms, and with the effect prescribed by Minnesota Statutes, 
  1.16  sections 167.50 to 167.52, and by the Minnesota Constitution, 
  1.17  article XIV, section 11, at the times and in the amounts 
  1.18  requested by the commissioner of transportation.  The proceeds 
  1.19  of the bonds, except accrued interest and any premium received 
  1.20  on the sale of the bonds, must be credited to the bond proceeds 
  1.21  account in the trunk highway fund. 
  1.22     Sec. 3.  [EFFECTIVE DATE.] 
  1.23     Sections 1 and 2 are effective the day following final 
  1.24  enactment.