SF 4483

as introduced - 91st Legislature (2019 - 2020) Posted on 11/02/2020 09:12am

A bill for an act
relating to transportation; appropriating money to construct an interchange at
marked Trunk Highway 14 and County Road 104; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin INTERCHANGE AT MARKED TRUNK HIGHWAY 14 AND COUNTY
ROAD 104; APPROPRIATION AND TRUNK HIGHWAY BOND SALE
AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,920,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to acquire property
and to predesign, design, and engineer an interchange at marked Trunk Highway 14 and
County Road 104, including the flyover at 7th Street NW, in Olmsted County.
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 trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $3,920,000 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 from the sale of the bonds, must be deposited in the bond
proceeds account in 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