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Minnesota Legislature

Office of the Revisor of Statutes

SF 1365

as introduced - 90th Legislature (2017 - 2018) Posted on 02/24/2017 09:09am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for an interchange project at
signed Interstate Highways 94, 494, and 694; authorizing the sale and issuance of
trunk highway bonds.

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

Section 1. new text beginINTERSTATE HIGHWAYS 94, 494, AND 694 INTERCHANGE
PROJECT; APPROPRIATION AND TRUNK HIGHWAY BOND SALE
AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $210,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for preliminary
and final design, engineering, environmental analysis, right-of-way acquisition, and
construction of an interchange located at signed Interstate Highways 94, 494, and 694 in
the cities of Oakdale and Woodbury.
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 subdivision 1 from the bond
proceeds account in the trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $210,000,000 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, 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 from the sale of the bonds, must be deposited in the 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