SF 3759

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

A bill for an act
relating to transportation; authorizing the sale of trunk highway bonds for marked
Trunk Highways 61/50 corridor study; appropriating money.

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

Section 1. new text begin TRUNK HIGHWAYS 61/50 CORRIDOR STUDY.
new text end

new text begin new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $300,000 is appropriated from the trunk highway
fund to the commissioner of transportation for corridor study and mapping for the corridor
that extends along marked Trunk Highway 61 from its intersection with marked Trunk
Highway 316 to its intersection with marked Trunk Highway 50, then along marked
Trunk Highway 50 to its intersection with marked Trunk Highway 52. The study must,
among other things, identify and recommend improvements to mainline segments and
intersections needed to efficiently and safely accommodate present and future projected
traffic load, identify key environmental issues, preserve key environmental features, and
preserve access. This appropriation is available until spent.
new text end

new text begin Subd. 2. new text end

new text begin Bond authorization. new text end

new text begin To provide the money appropriated in subdivision
1 from the trunk highway fund, the commissioner of finance shall sell and issue bonds
of the state in an amount up to $300,000 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 on the sale of the bonds, must be credited to the trunk highway fund.
new text end

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

new text begin Section 1 is effective the day following final enactment.
new text end