SF 3383

as introduced - 90th Legislature (2017 - 2018) Posted on 03/16/2018 08:24am

A bill for an act
relating to capital investment; appropriating money for I-94/Brockton Lane
interchange project local road improvements in Dayton; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin I-94/BROCKTON LANE INTERCHANGE PROJECT; 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 $13,500,000 is appropriated from the bond proceeds
account in the state transportation fund as provided in Minnesota Statutes, section 174.50,
to the commissioner of transportation, under the local road improvement program under
Minnesota Statutes, section 174.52. The appropriation under this section is for design,
engineering, environmental analysis, property and easement acquisition, construction, and
reconstruction of local roads in conjunction with an interchange on marked Interstate
Highway 94 near Hennepin County State-Aid Highway 101, known as Brockton Lane, in
Dayton. The 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 subdivision 1 from the bond
proceeds account in the state transportation fund, the commissioner of management and
budget shall sell and issue bonds of the state in an amount up to $13,500,000 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 the 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