SF 2558

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; authorizing the issuance of state bonds;
appropriating money for local road improvements in Kittson County.

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

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

new text begin Subdivision 1. new text end

new text begin Routes of regional significance. new text end

new text begin $650,000 is appropriated from
the bond proceeds account in the state transportation fund to the commissioner of
transportation as provided in Minnesota Statutes, section 174.50, for a grant to Kittson
County to construct, reconstruct, or recondition local roads with statewide or regional
significance under Minnesota Statutes, section 174.52, subdivision 4.
new text end

new text begin Subd. 2. new text end

new text begin Rural road safety. new text end

new text begin $572,000 is appropriated from the bond proceeds
account in the state transportation fund to the commissioner of transportation as provided
in Minnesota Statutes, section 174.50, for a grant to Kittson County to assist in paying
the costs of capital improvement projects on county state-aid highways that are intended
primarily to reduce traffic crashes, deaths, injuries, and property damage, under Minnesota
Statutes, section 174.52, subdivision 4a.
new text end

new text begin Subd. 3. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this act from the state
transportation fund, the commissioner of finance shall sell and issue bonds of the state in
an amount up to $1,222,000 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 and any
premium received on the sale of the bonds, must be credited to a bond proceeds account
in the state transportation fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective the day following final enactment.
new text end