SF 88

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:10am

A bill for an act
relating to highways; appropriating money to reconstruct highway 25 through
city of Pierz; authorizing sale of trunk highway bonds.

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

Section 1. new text begin HIGHWAY 25 IN PIERZ; APPROPRIATION, BONDING.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $300,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to reconstruct
marked Trunk Highway 25 through the city of Pierz.
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 bonds of the state in
an amount up to $300,000 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. The proceeds of the bonds, except accrued interest and any premium
received on the sales of the bonds, must be credited to a 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