HF 679

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/23/2023 03:32pm

A bill for an act
relating to transportation; appropriating money for a project on Trunk Highway
55; 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 55.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $43,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for acquisition of
right-of-way, engineering, and construction to reconstruct marked Trunk Highway 55 as a
four-lane divided highway from a point near Hennepin County Road 118, known as
Arrowhead Drive, in Medina to Hennepin County State-Aid Highway 19 near the city of
Loretto.
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 subdivision 1 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 $43,000,000 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 EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end