SF 2455

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:36pm

A bill for an act
relating to highways; authorizing issuance of trunk highway bonds; appropriating
money for capacity and safety improvements on marked Trunk Highway 77 in
Dakota and Hennepin Counties.

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

Section 1. new text begin HIGHWAY APPROPRIATION AND BOND SALE.
new text end

new text begin Subdivision 1. new text end

new text begin Trunk highway capacity and safety improvements;
appropriation. new text end

new text begin $2,000,000 is appropriated from the bond proceeds account in the trunk
highway fund to the commissioner of transportation for environmental assessment,
preliminary design, and final design for capacity and safety improvements on marked
Trunk Highway 77 between Interstate Highway 35E and Interstate Highway 494 in
Dakota and Hennepin Counties.
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 $2,000,000 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