SF 107

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to transportation; authorizing sale of state transportation bonds;
appropriating money for Rice Street bridge in Ramsey County.

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

Section 1. new text begin RICE STREET BRIDGE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,000,000 is appropriated to the commissioner of
transportation from the state transportation fund for the preliminary planning, design,
and engineering of the Rice Street bridge where it crosses marked Trunk Highway 36
in Ramsey 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 this section from the
state transportation fund, the commissioner of finance shall sell and issue bonds of the
state in an amount up to $2,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675 and 174.51, and by the
Minnesota Constitution, article XI, sections 4 to 7. The proceeds of the bonds, except
accrued interest and any premium received on the sale of the bonds, must be credited to
a bond proceeds account in the state transportation fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective July 1, 2007.
new text end