SF 1703

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to highways; appropriating money for upgrades and improvements to
highway 149; authorizing sale of trunk highway bonds.

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

Section 1. new text begin HIGHWAY 149 IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $7,400,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for upgrades and
improvements to marked Trunk Highway 149 in the metropolitan area.
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 this act from the trunk
highway fund, the commissioner of finance shall sell and issue bonds of the state in an
amount up to $7,400,000 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. The proceeds of the bonds, except accrued interest and any premium
received on the sales of the bonds, must be credited to a bond proceeds account in the
trunk highway fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective the day following final enactment.
new text end