HF 524

as introduced - 94th Legislature (2025 - 2026) Posted on 02/13/2025 02:43pm

A bill for an act
relating to capital investment; appropriating money for an interchange at U.S.
Highway 10 and Sherburne County State-Aid Highway 11 in Becker Township;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin SHERBURNE COUNTY; US 10 AND CSAH 11 INTERCHANGE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriations. new text end

new text begin (a) $2,500,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to Sherburne County for property
acquisition, environmental documentation, and engineering for the local road portions of
an interchange at marked U.S. Highway 10 and Sherburne County State-Aid Highway 11
in Becker Township. This appropriation is available after the commissioner of management
and budget determines that an amount sufficient to complete the project as described in this
section has been committed to the project, as required by Minnesota Statutes, section
16A.502.
new text end

new text begin (b) $2,500,000 is appropriated from the bond proceeds account in the trunk highway
fund to the commissioner of transportation for property acquisition, environmental
documentation, and engineering of the trunk highway portions of an interchange at marked
U.S. Highway 10 and Sherburne County State-Aid Highway 11 in Becker Township.
new text end

new text begin Subd. 2. new text end

new text begin Bond sales. new text end

new text begin (a) 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 $2,500,000 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 (b) To provide the money appropriated in this section 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 $2,500,000 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