HF 967

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/26/2023 03:26pm

A bill for an act
relating to capital investment; appropriating money for an interchange at Interstate
Highway 35 and 400th Street in North Branch; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin INTERCHANGE AT INTERSTATE HIGHWAY 35 AND 400TH STREET,
NORTH BRANCH; APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,000,000 is appropriated from the bond proceeds fund
to the commissioner of transportation for a grant to the city of North Branch for predesign,
design, and right-of-way acquisition to construct an interchange at Interstate Highway 35
and 400th Street in the city of North Branch. This appropriation is available after the
commissioner of management and budget determines that sufficient resources have been
committed from nonstate sources to complete the project.
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 $4,000,000 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