SF 1738

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/04/2021 03:18pm

A bill for an act
relating to capital improvements; appropriating money for an interchange in Becker;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin BECKER INTERCHANGE PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation; general obligation bond proceeds. new text end

new text begin $1,979,000 is
appropriated from the bond proceeds fund to the commissioner of transportation to prepare
final design, conduct site preparation work, and acquire right-of-way for an interchange to
be constructed at marked U.S. Highway 10, marked Trunk Highway 25, Becker County
State-Aid Highway 8, and Becker County Road 52 in the city of Becker and Becker
Township. This appropriation is for expenses eligible to be paid from general obligation
bond proceeds.
new text end

new text begin Subd. 2. new text end

new text begin Appropriation; trunk highway bond proceeds. new text end

new text begin $1,869,000 is appropriated
from the bond proceeds account in the trunk highway fund to prepare final design, conduct
site preparation work, and acquire right-of-way for an interchange to be constructed at
marked U.S. Highway 10, marked Trunk Highway 25, Becker County State-Aid Highway
Road 8, and Becker County Road 52 in the city of Becker and Becker Township. This
appropriation is for expenses eligible to be paid from trunk highway bond proceeds.
new text end

new text begin Subd. 3. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $1,979,000 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. new text end

new text begin To provide the money appropriated in this section 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 $1,869,000 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