as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to transportation; authorizing the issuance 1.3 of state trunk highway bonds for replacement and 1.4 reconstruction of key bridges on the state trunk 1.5 highway system; appropriating money. 1.6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.7 Section 1. [TRUNK HIGHWAY BONDS; ISSUANCE.] 1.8 The commissioner of finance is authorized and directed, on 1.9 recommendation of the commissioner of transportation, to issue 1.10 and sell Minnesota trunk highway bonds under Minnesota Statutes, 1.11 sections 167.50 to 167.52, and the Minnesota Constitution, 1.12 article XI, sections 4 to 7, and article XIV, section 11, at 1.13 such times and in such amounts as are determined by the 1.14 commissioner of transportation. Bonds issued under this section 1.15 are authorized in an aggregate principal amount of $........ 1.16 Not more than $....... of the bonds authorized under this 1.17 section may be sold in any fiscal year. The proceeds from the 1.18 bonds must be deposited in a separate bridge construction 1.19 account in the trunk highway fund. 1.20 Sec. 2. [APPROPRIATION.] 1.21 $....... is appropriated in each of the fiscal years ending 1.22 June 30, 1999, through June 30, 2003, from the separate bridge 1.23 account in the trunk highway fund created in section 1 to the 1.24 commissioner of transportation. This appropriation is for the 1.25 reconstruction and replacement of key bridges on the state trunk 2.1 highway system. 2.2 Sec. 3. [EFFECTIVE DATE.] 2.3 Sections 1 and 2 are effective July 1, 1998.