SF 862

as introduced - 93rd Legislature (2023 - 2024) Posted on 06/21/2023 11:06am

A bill for an act
relating to capital investment; appropriating money for certain intersection and
local road improvements along Trunk Highway 65 from 99th Avenue Northeast
to 117th Avenue Northeast in Anoka County; 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 65 INTERSECTION IMPROVEMENTS;
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 $74,000,000 is appropriated from the bond proceeds
account in the state transportation fund to the commissioner of transportation for one or
more grants to the city of Blaine, Anoka County, or both for the predesign, right-of-way
acquisition, design, engineering, and construction of intersection improvements along Trunk
Highway 65 at 99th Avenue Northeast, 105th Avenue Northeast, Anoka County State-Aid
Highway 12 (109th Avenue Northeast), and 117th Avenue Northeast and the associated
frontage roads, backage roads, connecting local streets, and utility infrastructure
improvements, if necessary or required for the construction. This appropriation is for the
portion of the project that is eligible for use of proceeds of general obligation bonds. This
appropriation does not require a nonstate contribution.
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 in the state transportation fund, the commissioner of management and
budget shall sell and issue bonds of the state in an amount up to $74,000,000 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