HF 3646

as introduced - 89th Legislature (2015 - 2016) Posted on 03/29/2016 11:07am

A bill for an act
relating to transportation; capital investment; appropriating money for
reconstruction of a portion of Trunk Highway 101; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin HIGHWAY 101 RECONSTRUCTION; 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 $25,100,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for design,
right-of-way acquisition, engineering, project management, and reconstruction of Trunk
Highway 101 between Pioneer Trail (Carver County State-Aid Highway 14) and Flying
Cloud Drive (Carver County State-Aid Highway 61) as a four-lane divided roadway.
This project includes a multipurpose pedestrian bridge over Trunk Highway 101 for the
Minnesota River Bluffs Regional Trail and a regional trail for pedestrians and bicycles
along Trunk Highway 101. This appropriation is not available until the commissioner of
management and budget determines that at least $3,400,000 is committed to the project
from nonstate sources.
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 $25,100,000 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