SF 1956

as introduced - 89th Legislature (2015 - 2016) Posted on 03/26/2015 08:58am

A bill for an act
relating to transportation; appropriating money for reconstruction of marked U.S.
Highway 14 between the cities of New Ulm and Nicollet; 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 U.S. HIGHWAY 14; 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 $184,000,000 is appropriated from the bond
proceeds account in the trunk highway fund to the commissioner of transportation for
right-of-way acquisition, engineering, and construction of marked U.S. Highway 14 as a
four-lane divided highway from the interchange with County Road 21 and marked Trunk
Highway 15 east of New Ulm to the intersection with 471st Avenue west of Nicollet.
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 $184,000,000 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