SF 2038

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/18/2021 09:27am

A bill for an act
relating to transportation; appropriating money for preliminary engineering on a
segment of marked Trunk Highway 3 in Rosemount and Inver Grove Heights;
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 3; 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 $500,000 is appropriated from the bond proceeds account
in the trunk highway fund to the commissioner of transportation for a grant to Dakota County
to complete preliminary engineering for corridor mobility and safety improvements on
marked Trunk Highway 3, from approximately 142nd Street West in Rosemount to marked
Interstate Highway 494 in Inver Grove Heights. This appropriation does not require a
nonstate contribution.
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 $500,000 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