SF 391

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to highways; authorizing sale of trunk highway bonds for interchange at
highway 55 and Yankee Doodle Road; appropriating money.

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

Section 1. new text begin INTERCHANGE ON HIGHWAY 55 AT YANKEE DOODLE ROAD.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 is appropriated from the trunk highway
fund to the commissioner of transportation for construction of an interchange at marked
Trunk Highway 55, Yankee Doodle Road, and Argenta Trail to promote safety and relieve
traffic congestion.
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 this section from the
trunk highway fund, the commissioner of finance shall sell and issue bonds of the state in
an amount up to $15,000,000 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 on the sale of the bonds, must be credited to 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