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HF 2642

as introduced - 92nd Legislature (2021 - 2022) Posted on 05/15/2021 03:41pm

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

Bill Text Versions

Engrossments
Introduction Posted on 05/15/2021

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for Oslo area Red River flood
mitigation project; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginOSLO AREA FLOOD MITIGATION; APPROPRIATIONS AND BOND
SALE AUTHORIZATIONS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriations. new text end

new text begin (a) $13,390,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for phase 1 of the
Oslo area flood mitigation project as follows:
new text end

new text begin (1) $11,680,000 for reconstruction or replacement of the marked Trunk Highway 1
bridge over the Red River at Oslo and the border with North Dakota, which may include
approach work on marked Trunk Highway 1; and
new text end

new text begin (2) $1,710,000 for reconstruction or replacement of the marked Trunk Highway 317
bridge over the Red River in Marshall County at the border with North Dakota.
new text end

new text begin (b) $6,790,000 is appropriated from the bond proceeds fund to the commissioner of
transportation for phase 1 of the Oslo area flood mitigation project as follows:
new text end

new text begin (1) $460,000 for regrading, resurfacing, and reconstruction of roadways and levees in
the vicinity of the Red River and the marked Trunk Highway 317 bridge over the Red River;
and
new text end

new text begin (2) $6,330,000 for reconstruction or replacement of the railroad bridge over the Red
River near marked Trunk Highway 1 at Oslo and the border with North Dakota, which may
be used for a grant to a railroad to perform the project work.
new text end

new text begin (c) Each appropriation under this subdivision is available for predesign, design,
preliminary and final engineering, environmental analysis, right-of-way acquisition, and
construction, including demolition.
new text end

new text begin (d) Each appropriation under this subdivision is for the Minnesota share of project costs
and must only be used for acquisition, betterment, and improvement within Minnesota.
Each appropriation under this subdivision is available when the commissioner of management
and budget determines that an amount has been committed that is sufficient to complete
phase 1 of the project, as required by Minnesota Statutes, section 16A.502.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin (a) To provide the money appropriated in subdivision 1, paragraph
(a), 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 $13,390,000
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 the bonds, must
be deposited in the bond proceeds account in the trunk highway fund.
new text end

new text begin (b) To provide the money appropriated in subdivision 1, paragraph (b), from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $6,790,000 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