SF 5474

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/26/2024 09:07am

A bill for an act
relating to capital investment; appropriating money for intersection improvements
along marked U.S. Highway 14 in the city of Byron; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin U.S. HIGHWAY 14 INTERSECTION IMPROVEMENTS;
APPROPRIATION AND GENERAL OBLIGATION BOND SALE
AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation; general obligation bond proceeds. new text end

new text begin $5,600,000 is
appropriated from the bond proceeds account in the state transportation fund to the
commissioner of transportation for one or more grants to the city of Byron, Olmsted County,
or both for the county and city share of general obligation bond eligible portions of a project
to conduct environmental analysis, predesign, and final design of a project to replace at-grade
intersections and traffic signals with grade-separated interchanges along marked U.S.
Highway 14, including but not limited to intersections with Olmsted County State-Aid
Highway 3 and Olmsted County State-Aid Highway 5, in the city of Byron. Any amount
remaining after substantial completion of environmental analysis, predesign, design, and
engineering work may be applied to the city and county's share to acquire right-of-way for,
and to construct, furnish, and equip these interchanges and associated infrastructure and
road work to accommodate these interchanges.
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 bond
proceeds account, the commissioner of management and budget shall sell and issue bonds
of the state in an amount up to $5,600,000 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, at the times and in the amounts requested by the
commissioner of transportation.
new text end