SF 1412

as introduced - 89th Legislature (2015 - 2016) Posted on 03/06/2015 08:44am

A bill for an act
relating to transportation; capital investment; appropriating money for an
interchange on marked Interstate Highway 94 in Dayton; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin TRUNK HIGHWAY BONDS; APPROPRIATION AND BOND SALE
AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $....... is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for the
I-94/Brockton Lane Interchange Project to construct an interchange and auxiliary lanes
on marked Interstate Highway 94 east of the Hennepin County State-Aid Highway 101
(Brockton Lane) overpass in the city of Dayton.
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 $....... 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