SF 2304

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/08/2022 10:05am

A bill for an act
relating to capital investment; appropriating money for a new interchange at Trunk
Highway 36 and Lake Elmo Avenue in Washington County; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin WASHINGTON COUNTY; INTERCHANGE AT TRUNK HIGHWAY
36 AND LAKE ELMO AVENUE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 is appropriated from the bond proceeds
account in the state transportation fund as provided in Minnesota Statutes, section 174.50,
for a grant to Washington County for property acquisition and to predesign, design, construct,
furnish, and equip a new interchange at marked Trunk Highway 36 and County State-Aid
Highway 17, known as Lake Elmo Avenue, in Washington County. This appropriation is
available when the commissioner of management and budget determines that sufficient
resources have been committed to complete the project, as required by Minnesota Statutes,
section 16A.502.
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 this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $15,000,000 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.
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