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SF 57

as introduced - 90th Legislature (2017 - 2018) Posted on 01/10/2017 08:58am

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

Current Version - as introduced

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A bill for an act
relating to transportation; capital investment; appropriating money for marked
I-35W and Lake Drive interchange improvements and realignment of West Freeway
Drive; 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 MARKED I-35W AND LAKE DRIVE; WEST
FREEWAY DRIVE REALIGNMENT; APPROPRIATION AND TRUNK HIGHWAY
BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,200,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for a grant to Anoka
County to (1) complete the design, land acquisition, engineering, and construction of an
interchange at the intersection of marked Interstate Highway 35W, marked Trunk Highway
97, and County State-Aid Highway 23, and (2) to complete the design, land acquisition,
engineering, and construction of County State-Aid Highway 23, known as Lake Drive;
County State-Aid Highway 54, known as West Freeway Drive; and Hornsby Street in the
city of Columbus to support the interchange 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 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 $15,200,000 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