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SF 2168

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/19/2021 08:14am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to transportation; appropriating money for improvements to marked Trunk
Highway 95 and a railroad switch project in the city of Cambridge; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin MARKED TRUNK HIGHWAY 95 IMPROVEMENTS; APPROPRIATION
AND BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $6,200,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for a grant to the
city of Cambridge for land acquisition, demolition, predesign, design, engineering, and
construction of improvements to marked Trunk Highway 95, including but not limited to
expansion to a four-lane at-grade segment from approximately Fillmore Street to Birch
Street in the city of Cambridge. This appropriation is for the portion of the project that is
eligible for use of proceeds of trunk highway bonds. This appropriation is not available
until the commissioner of management and budget determines that sufficient resources have
been committed from nonstate sources to complete the project. This appropriation is available
until the project is completed or abandoned.
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 $6,200,000 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

Sec. 2. new text begin MARKED TRUNK HIGHWAY 95 RAILROAD SWITCH;
APPROPRIATION AND BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $800,000 is appropriated from the bond proceeds account
in the state transportation fund to the commissioner of transportation for a grant to the city
of Cambridge for land acquisition, predesign, design, engineering, and construction of
improvements to the railroad crossing at marked Trunk Highway 95 in the city of Cambridge,
including but not limited to relocation of the crossing and installation of additional spur
track. This appropriation is for the portion of the project that is eligible for use of proceeds
of general obligation bonds. This appropriation is not available until the commissioner of
management and budget determines that sufficient resources have been committed from
nonstate sources to complete the project. This appropriation is available until the project is
completed or abandoned.
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 fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $800,000 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 EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end