Bill Text: MN HF2057 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Local bridge replacement and rehabilitation funding provided, bonds issued, and money appropriated.
Sponsorship: Slight Partisan Bill (Republican 7-4)
Status: (Introduced - Dead) 2012-02-01 - Introduction and first reading, referred to Transportation Policy and Finance [HF2057 Detail]
Download: Minnesota-2011-HF2057-Introduced.html
1.2relating to transportation; appropriating money for local bridge replacement and
1.3rehabilitation; authorizing sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. LOCAL BRIDGE REPLACEMENT AND REHABILITATION.
1.6 Subdivision 1. Appropriation. $75,000,000 is appropriated from the bond proceeds
1.7account in the state transportation fund as provided in Minnesota Statutes, section 174.50,
1.8to the commissioner of transportation for matching federal funds and replacement or
1.9rehabilitation of local bridges under Minnesota Statutes, section 174.50.
1.10 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.11bond proceeds account in the state transportation fund, the commissioner of management
1.12and budget shall sell and issue bonds of the state in an amount up to $75,000,000 in the
1.13manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.1416A.631 to 16A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The
1.15proceeds of the bonds, except accrued interest and any premium received on the sale of
1.16the bonds, must be credited to the bond proceeds account in the state transportation fund.
1.17EFFECTIVE DATE.This section is effective the day following final enactment.
1.3rehabilitation; authorizing sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. LOCAL BRIDGE REPLACEMENT AND REHABILITATION.
1.6 Subdivision 1. Appropriation. $75,000,000 is appropriated from the bond proceeds
1.7account in the state transportation fund as provided in Minnesota Statutes, section 174.50,
1.8to the commissioner of transportation for matching federal funds and replacement or
1.9rehabilitation of local bridges under Minnesota Statutes, section 174.50.
1.10 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.11bond proceeds account in the state transportation fund, the commissioner of management
1.12and budget shall sell and issue bonds of the state in an amount up to $75,000,000 in the
1.13manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.1416A.631 to 16A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The
1.15proceeds of the bonds, except accrued interest and any premium received on the sale of
1.16the bonds, must be credited to the bond proceeds account in the state transportation fund.
1.17EFFECTIVE DATE.This section is effective the day following final enactment.
