SF 4888

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/14/2024 09:31am

A bill for an act
relating to transportation; appropriating money for interchange improvements at
marked Trunk Highway 65 and Bunker Lake Boulevard Northeast in the city of
Ham Lake; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MARKED TRUNK HIGHWAY 65 INTERCHANGE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation; trunk highway bonds. new text end

new text begin $24,000,000 is appropriated
from the bond proceeds account in the trunk highway fund to the commissioner of
transportation for preliminary engineering, environmental documentation, final design,
right-of-way acquisition, and construction of intersection improvements along marked Trunk
Highway 65 at Anoka County State-Aid Highway 116, also known as Bunker Lake Boulevard
Northeast, and associated frontage roads and backage roads. This appropriation does not
require a nonstate contribution. This appropriation is for the portion of the project that is
eligible for use of proceeds of trunk highway bonds.
new text end

new text begin Subd. 2. new text end

new text begin Appropriation; general obligation bonds. new text end

new text begin $18,000,000 is appropriated from
the bond proceeds account in the state transportation fund to the commissioner of
transportation for one or more grants to Anoka County, the city of Ham Lake, or both for
preliminary engineering, environmental documentation, final design, right-of-way acquisition,
and construction of intersection improvements along marked Trunk Highway 65 at Anoka
County State-Aid Highway 116, also known as Bunker Lake Boulevard Northeast, and
associated frontage roads, backage roads, connecting local streets, and any associated water
and sanitary sewer infrastructure improvements, if necessary or required for the construction.
This appropriation does not require a nonstate contribution. This appropriation is for the
portion of the project that is eligible for use of proceeds of general obligation bonds.
new text end

new text begin Subd. 3. 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 $24,000,000 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 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 Subd. 4. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivision 2 from the bond
proceeds 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.
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