SF 1632

as introduced - 91st Legislature (2019 - 2020) Posted on 02/25/2019 03:15pm

A bill for an act
relating to transportation; appropriating money for improvements to marked Trunk
Highway 62; authorizing the sale and issuance of trunk highway bonds.

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

Section 1. new text begin MARKED TRUNK HIGHWAY 62 IMPROVEMENTS; 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 $....... is appropriated from the bond proceeds account
in the trunk highway fund to the commissioner of transportation for engineering, right-of-way
acquisition, and construction of additional lanes to expand capacity and improve freight
movement on marked Trunk Highway 62 from the interchange at marked Interstate Highway
35W to the interchange at marked Interstate Highway 494.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale authorization. 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