SF 2441

as introduced - 90th Legislature (2017 - 2018) Posted on 10/27/2017 01:56pm

A bill for an act
relating to capital investment; appropriating money to repair and rehabilitate the
10th Avenue bridge in Minneapolis; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin 10TH AVENUE BRIDGE REHABILITATION; 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 $31,875,000 is appropriated from the bond proceeds
account in the state transportation fund to design, repair, and rehabilitate the bridge over
the Mississippi River that is aligned on the east side of the river with 10th Avenue, also
designated Route 328 on the municipal state-aid system. This appropriation is not available
until the commissioner of management and budget determines that at least $10,625,000 is
committed to the project from nonstate sources.
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, the commissioner of management and budget shall sell and issue bonds
of the state in an amount up to $31,875,000 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, at the times and in the amounts requested by the
commissioner of transportation.
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