2006 Minnesota Statutes

167.51 TRUNK HIGHWAY BOND ACCOUNT; TRANSFERS.
    Subdivision 1. Account; appropriation. The commissioner of finance shall maintain in the
state bond fund a separate account which shall be designated the Minnesota trunk highway bond
account. On the first day of December of each year there shall be transferred from the trunk
highway fund to the Minnesota trunk highway bond account a sum sufficient, with all money
previously transferred to such account, and all income from the investment of such money, to
pay all principal and interest then and theretofore due and to become due within the next ensuing
year and to and including July 1 in the second ensuing year on Minnesota trunk highway bonds.
There is annually appropriated from the trunk highway fund a sum of money sufficient to carry
out the provisions of this subdivision.
    Subd. 2. Transfers. All money transferred from the trunk highway fund or from any other
source to the Minnesota trunk highway bond account and all income from the investment thereof
shall be available for the payment of outstanding state trunk highway bonds and interest thereon,
whether or not issued pursuant to section 167.50, in the same manner as the proceeds of taxes paid
into the trunk highway fund, and so much thereof as may be necessary is appropriated for such
payments. The legislature may appropriate and transfer to the Minnesota trunk highway bond
account, for the payment of such trunk highway bonds and interest thereon, any other moneys in
the state treasury not otherwise appropriated. The commissioner of finance is directed to make
the appropriate entries in the accounts of the respective funds.
History: 1965 c 892 s 2; 1973 c 492 s 14; 1994 c 643 s 70; 1Sp2001 c 8 art 2 s 27; 2003 c
112 art 2 s 50