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SF 4340

as introduced - 91st Legislature (2019 - 2020) Posted on 03/17/2020 12:15pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for local road improvements
in Chaska; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginCHASKA; LOCAL ROAD IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $6,500,000 is appropriated from the bond proceeds fund
to the commissioner of transportation for a grant to the city of Chaska for local road
improvements related to the reconstruction of marked Trunk Highway 41 and Carver County
State-Aid Highway 61 in downtown Chaska. This appropriation is part of a project with an
overall estimated cost of $23,600,000 in downtown Chaska and not available until the
commissioner of management and budget determines an amount sufficient to complete the
project has been committed from other sources.
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 fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $6,500,000 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