SF 873

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:16am

A bill for an act
relating to capital improvements; authorizing the sale and issuance of state
bonds; appropriating money to replace and rehabilitate local bridges.

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

Section 1. new text begin LOCAL BRIDGE REPLACEMENT AND REHABILITATION;
APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $20,000,000 is appropriated from the bond proceeds
account in the state transportation fund to the commissioner of transportation to match
federal money and to replace or rehabilitate local deficient bridges under Minnesota
Statutes, section 174.50.
new text end

new text begin Political subdivisions may use grants made under this subdivision to construct
or reconstruct bridges, including:
new text end

new text begin (1) matching federal-aid grants to construct or reconstruct key bridges;
new text end

new text begin (2) paying the costs of preliminary engineering and environmental studies authorized
under Minnesota Statutes, section 174.50, subdivision 6a;
new text end

new text begin (3) paying the costs to abandon an existing bridge that is deficient and in need of
replacement, but where no replacement will be made; and
new text end

new text begin (4) paying the costs to construct a road or street to facilitate the abandonment of
an existing bridge determined by the commissioner to be deficient, if the commissioner
determines that construction of the road or street is more economical than replacement of
the existing bridge.
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
bond proceeds account in the state transportation fund, the commissioner of finance shall
sell and issue bonds of the state in an amount up to $20,000,000 in the manner, upon
the terms, and with the effect prescribed by Minnesota Statutes, sections 16A.631 to
16A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The proceeds of
the bonds, except accrued interest and any premium received on the sale of the bonds,
must be credited to a bond proceeds account in the state transportation fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective the day following final enactment.
new text end