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SF 3971

as introduced - 90th Legislature (2017 - 2018) Posted on 04/16/2018 03:49pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for Trunk Highway 610/I-94
interchange connections to County State-Aid Highway 30 project and local road
improvements in Maple Grove; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin TRUNK HIGHWAY 610/I-94 INTERCHANGE CONNECTIONS TO
COUNTY STATE-AID HIGHWAY 30 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 $18,000,000 is appropriated from the bond proceeds
account in the state transportation fund under Minnesota Statutes, section 174.50, to the
commissioner of transportation under the local road improvement program under Minnesota
Statutes, section 174.52. The appropriation is for design, engineering, environmental analysis,
property and easement acquisition, construction, and reconstruction of local roads in
conjunction with Trunk Highway 610/I-94 interchange connections to County State-Aid
Highway 30 in Maple Grove. The appropriation is available when the commissioner of
management and budget determines 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 $18,000,000 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