SF 39

as introduced - 90th Legislature (2017 - 2018) Posted on 01/10/2017 08:47am

A bill for an act
relating to capital investment; appropriating money for certain marked U.S.
Highway 12 projects; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin U.S. HIGHWAY 12 PROJECTS; APPROPRIATION AND TRUNK
HIGHWAY 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 projects,
including preliminary and final design, engineering, environmental analysis, right-of-way
acquisition, construction, and reconstruction on marked U.S. Highway 12 as follows:
new text end

new text begin (1) realignment at the intersections with Hennepin County State-Aid Highway 92;
new text end

new text begin (2) realignment and safety improvements at the intersection with Hennepin County
State-Aid Highway 90; and
new text end

new text begin (3) safety median improvements from the interchange with Wayzata Boulevard in
Wayzata to approximately one-half mile east of the interchange with Hennepin County
State-Aid Highway 6.
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