SF 727

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to highways; requiring that a new St. Croix 
  1.3             river bridge must be a toll bridge; authorizing 
  1.4             issuance of trunk highway bonds. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [ST. CROIX RIVER BRIDGE; REQUIREMENTS.] 
  1.7      Subdivision 1.  [DEFINITIONS.] For purposes of this section:
  1.8      (a) "Commissioner" means the commissioner of transportation.
  1.9      (b) "St. Croix river bridge" means a new bridge across the 
  1.10  St. Croix river between the present locations of the bridges 
  1.11  across the St. Croix river in the city of Stillwater and on 
  1.12  marked interstate highway No. 94. 
  1.13     Subd. 2.  [TOLL BRIDGE.] If the commissioner decides to 
  1.14  construct the St. Croix river bridge, the commissioner shall not 
  1.15  begin construction using any state funds unless the bridge is 
  1.16  designed, constructed, and operated as a toll bridge.  The 
  1.17  commissioner shall not construct or authorize the construction 
  1.18  of any approaches to the St. Croix river bridge, or construct or 
  1.19  authorize the construction of any connection between the bridge 
  1.20  and a trunk highway, unless the bridge is designed, constructed, 
  1.21  and operated as a toll bridge. 
  1.22     Subd. 3.  [CONTRACTS.] The commissioner may contract with a 
  1.23  road authority or a private entity to conduct all toll 
  1.24  collection and related operations on the St. Croix river bridge. 
  1.25     Subd. 4.  [REPAYMENT.] If the commissioner designs and 
  2.1   constructs the St. Croix river bridge with trunk highway funds 
  2.2   derived from the sale of bonds authorized by section 2, the 
  2.3   commissioner shall as a first obligation on all toll receipts 
  2.4   received from the bridge repay the trunk highway fund for all 
  2.5   payments from that fund for principal and interest on those 
  2.6   bonds.  If the commissioner designs and constructs the St. Croix 
  2.7   river bridge with trunk highway funds other than those obtained 
  2.8   from the sale of trunk highway bonds, the commissioner shall as 
  2.9   a first obligation on all toll receipts from the bridge repay 
  2.10  the trunk highway fund, with interest calculated in a manner the 
  2.11  commissioner determines, in equal amounts over a 20-year period. 
  2.12     Sec. 2.  [TRUNK HIGHWAY BONDS; AUTHORIZATION.] 
  2.13     The commissioner of finance, on request of the governor, 
  2.14  shall sell and issue Minnesota trunk highway bonds for the 
  2.15  purposes of section 1 in an amount up to $......., in the 
  2.16  manner, upon the terms, and with the effect prescribed in 
  2.17  Minnesota Statutes, sections 167.50 to 167.52, and by the 
  2.18  Minnesota Constitution, article XIV, section 11.  
  2.19     Sec. 3.  [EFFECTIVE DATE.] 
  2.20     Sections 1 and 2 are effective July 1, 1995.