SF 4636

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/08/2024 10:56am

A bill for an act
relating to transportation; appropriating money for an interchange at marked
Interstate Highway 90 and Freeborn County State-Aid Highway 20 in the city of
Albert Lea; authorizing the sale and issuance of state bonds.

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

Section 1. ALBERT LEA; MARKED INTERSTATE HIGHWAY 90
INTERCHANGE.

Subdivision 1.

Appropriation.

$9,160,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for environmental
review, design, engineering, acquisition of right-of-way, and construction of an interchange
at marked Interstate Highway 90 and Freeborn County State-Aid Highway 20 in the city of
Albert Lea. This appropriation is for the portion of the project that is eligible for use of
proceeds of trunk highway bonds.

Subd. 2.

Bond sale.

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 $9,160,000 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.

EFFECTIVE DATE.

This section is effective the day following final enactment.