SF 2273

as introduced - 89th Legislature (2015 - 2016) Posted on 03/09/2016 08:36am

A bill for an act
relating to capital investment; appropriating money for local road improvements,
including improvements needed related to relocation of Highway 53; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin LOCAL ROAD IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $10,000,000 is appropriated from the bond
proceeds account in the state transportation fund to the commissioner of transportation
for trunk highway corridor project grants under Minnesota Statutes, section 174.52,
subdivision 2, construction and reconstruction of local roads with statewide or regional
significance under Minnesota Statutes, section 174.52, subdivision 4, or for grants to
counties to assist in paying the costs of rural road safety capital improvement projects on
county state-aid highways under Minnesota Statutes, section 174.52, subdivision 4a.
new text end

new text begin (b) $3,400,000 of this appropriation is for grants to the city of Virginia and the city
of Virginia Public Utilities Commission to acquire land for and to predesign, design,
construct, furnish, and equip relocated public utilities, including sanitary and storm water
sewers and water, electrical, and gas utilities; and to demolish and remove old utility
infrastructure, all associated with the relocation of Highway 53. 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
state transportation fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $10,000,000 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. The proceeds of the bonds, except
accrued interest received on the sale of the bonds, must be credited to a bond proceeds
account in the state transportation 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