SF 981

as introduced - 93rd Legislature (2023 - 2024) Posted on 06/12/2023 01:10pm

A bill for an act
relating to transportation; appropriating money for an interchange at marked U.S.
Highway 14 and County State-Aid Highway 44 in Olmsted 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 OLMSTED COUNTY; U.S. HIGHWAY 14 AND COUNTY STATE-AID
HIGHWAY 44.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $42,100,000 is appropriated from the trunk highway
fund to the commissioner of transportation to acquire property, conduct environmental
analysis, predesign, design, engineer, acquire right-of-way for, construct, furnish, and equip
an interchange at marked U.S. Highway 14 and County State-Aid Highway 44, including
the flyover at 7th Street NW, in Olmsted County, and associated infrastructure and road
work to accommodate the interchange.
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 trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $42,100,000 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 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