HF 431

as introduced - 94th Legislature (2025 - 2026) Posted on 02/13/2025 02:42pm

A bill for an act
relating to capital investment; appropriating money for the Progress Parkway
project in the city of Eveleth; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin EVELETH; PROGRESS PARKWAY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,000,000 is appropriated from the bond proceeds
account in the state transportation fund as provided in Minnesota Statutes, section 174.50,
to the commissioner of transportation for one or more grants to St. Louis County for
predesign, design, engineering, environmental analysis and mitigation, land acquisition,
construction, and reconstruction of Progress Parkway to provide for intersection
improvements and road realignment and extension from marked U.S. Highway 53 and St.
Louis County State-Aid Highway 142 to marked Trunk Highway 37 and Station 44 Road
in the city of Eveleth. This appropriation is in addition to the appropriation for the same
purpose in Laws 2023, chapter 68, article 1, section 17, subdivision 17.
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 account in the state transportation fund as provided in Minnesota Statutes section
174.50, the commissioner of management and budget shall sell and issue bonds of the state
in an amount up to $8,000,000 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