SF 1369

as introduced - 93rd Legislature (2023 - 2024) Posted on 06/20/2023 10:27am

A bill for an act
relating to transportation; appropriating money for the interchange reconstruction
project at marked Trunk Highway 13 and Nicollet Avenue in Burnsville; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin RECONSTRUCTION OF THE INTERCHANGE AT TRUNK HIGHWAY
13 AND NICOLLET AVENUE; BURNSVILLE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation; general obligation bonds. new text end

new text begin $22,250,000 is appropriated
from the bond proceeds fund to the commissioner of transportation for predesign,
right-of-way acquisition, design, engineering, and construction of grade separation and
other capacity and safety improvements to the interchange at marked Trunk Highway 13
and Nicollet Avenue in Burnsville. This appropriation is for the portion of the project that
is eligible for use of general obligation bonds.
new text end

new text begin Subd. 2. new text end

new text begin Appropriation; trunk highway bonds. new text end

new text begin $22,250,000 is appropriated from the
bond proceeds account in the trunk highway fund to the commissioner of transportation for
predesign, right-of-way acquisition, design, engineering, and construction of grade separation
and other capacity and safety improvements to the interchange at marked Trunk Highway
13 and Nicollet Avenue in Burnsville. This appropriation is for the portion of the project
that is eligible for use of trunk highway funds.
new text end

new text begin Subd. 3. new text end

new text begin Bond sale; general obligation bonds. new text end

new text begin To provide the money appropriated in
subdivision 1 from the bond proceeds fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $22,250,000 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.
new text end

new text begin Subd. 4. new text end

new text begin Bond sale; trunk highway bonds. new text end

new text begin To provide the money appropriated in
subdivision 2 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
$22,250,000 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