SF 775

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; appropriating money and 
  1.3             authorizing issuance of trunk highway bonds for 
  1.4             construction of highway 241 as a four-lane expressway. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION; TRUNK HIGHWAY 241.] 
  1.7      $9,500,000 is appropriated from the bond proceeds account 
  1.8   in the trunk highway fund to the commissioner of transportation 
  1.9   for the reconstruction of marked trunk highway 241 from 4th 
  1.10  Street in the city of St. Michael to its intersection with 
  1.11  marked interstate highway 94 as a four-lane expressway.  This 
  1.12  appropriation is available until spent. 
  1.13     Sec. 2.  [BOND SALE AUTHORIZATION.] 
  1.14     The commissioner of finance shall sell and issue bonds of 
  1.15  the state in an amount up to $9,500,000 in the manner, upon the 
  1.16  terms, and with the effect prescribed by Minnesota Statutes, 
  1.17  sections 167.50 to 167.52, and by the Minnesota Constitution, 
  1.18  article XIV, section 11, at the times and in the amounts 
  1.19  requested by the commissioner of transportation.  The proceeds 
  1.20  of the bonds, except accrued interest and any premium received 
  1.21  on the sale of the bonds, must be credited to the bond proceeds 
  1.22  account in the trunk highway fund. 
  1.23     Sec. 3.  [EFFECTIVE DATE.] 
  1.24     Sections 1 and 2 are effective the day following final 
  1.25  enactment.