SF 1171

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital investment; appropriating money
for construction of certain interchanges on marked
Interstate Highway 35E; authorizing the issuance of
state trunk highway bonds.

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

Section 1. new text begin APPROPRIATION; ANOKA COUNTY INTERCHANGES.
new text end

new text begin $40,000,000 is appropriated from the bond proceeds account
in the trunk highway fund to the commissioner of transportation
to be spent as follows:
new text end

new text begin (1) $20,000,000 for construction of a new interchange on
marked Interstate Highway 35E at its intersection with Anoka
County State-Aid Highway 14 (Main Street) in Lino Lakes; and
new text end

new text begin (2) $20,000,000 for construction of a new interchange on
marked Interstate Highway 35E at its intersection with marked
Trunk Highway 97 (Lake Drive) in Columbus Township.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated by section 1 from the
bond proceeds account in the trunk highway fund, the
commissioner of finance shall sell and issue bonds of the state
in an amount up to $40,000,000 in the manner, on 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 on the sale of
the bonds, must be credited to the bond proceeds account in the
trunk highway fund.
new text end

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final
enactment.
new text end