as introduced - 88th Legislature (2013 - 2014) Posted on 02/28/2014 09:29am
A bill for an act
relating to transportation; capital investment; appropriating money for
construction along marked Trunk Highway 55; authorizing the sale and issuance
of trunk highway bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
new text begin
$500,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for reconstruction
and improvement of the intersection of marked Trunk Highway 55 and County State-Aid
Highway 102, also known as Douglas Drive, in the city of Golden Valley.
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
This section is effective the day following final enactment.
new text end