Bill Text: MN HF267 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Local road improvement program funding provided, bonds issued, and money appropriated.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2011-01-31 - Introduction and first reading, referred to Transportation Policy and Finance [HF267 Detail]
Download: Minnesota-2011-HF267-Introduced.html
1.2relating to transportation; appropriating money for local road improvement
1.3program; authorizing sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. LOCAL ROAD IMPROVEMENT PROGRAM.
1.6 Subdivision 1. Appropriation. $100,000,000 is appropriated from the bond
1.7proceeds account in the state transportation fund as provided in Minnesota Statutes,
1.8section 174.50, to the commissioner of transportation, for the local road improvement
1.9program under Minnesota Statutes, section 174.52. Of this appropriation:
1.10(1) $65,000,000 is for grants to counties to assist in paying the costs of rural road
1.11safety capital improvement projects on county state-aid highways under Minnesota
1.12Statutes, section 174.52, subdivision 4a; and
1.13(2) $35,000,000 is for grants for construction and reconstruction of local roads with
1.14statewide or regional significance under Minnesota Statutes, section 174.52, subdivision 4.
1.15 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.16bond proceeds account in the state transportation fund, the commissioner of management
1.17and budget shall sell and issue bonds of the state in an amount up to $100,000,000 in the
1.18manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.1916A.631 to 16A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The
1.20proceeds of the bonds, except accrued interest and any premium received on the sale of
1.21the bonds, must be credited to the bond proceeds account in the state transportation fund.
1.22EFFECTIVE DATE.This section is effective the day following final enactment.
1.3program; authorizing sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. LOCAL ROAD IMPROVEMENT PROGRAM.
1.6 Subdivision 1. Appropriation. $100,000,000 is appropriated from the bond
1.7proceeds account in the state transportation fund as provided in Minnesota Statutes,
1.8section 174.50, to the commissioner of transportation, for the local road improvement
1.9program under Minnesota Statutes, section 174.52. Of this appropriation:
1.10(1) $65,000,000 is for grants to counties to assist in paying the costs of rural road
1.11safety capital improvement projects on county state-aid highways under Minnesota
1.12Statutes, section 174.52, subdivision 4a; and
1.13(2) $35,000,000 is for grants for construction and reconstruction of local roads with
1.14statewide or regional significance under Minnesota Statutes, section 174.52, subdivision 4.
1.15 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.16bond proceeds account in the state transportation fund, the commissioner of management
1.17and budget shall sell and issue bonds of the state in an amount up to $100,000,000 in the
1.18manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.1916A.631 to 16A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The
1.20proceeds of the bonds, except accrued interest and any premium received on the sale of
1.21the bonds, must be credited to the bond proceeds account in the state transportation fund.
1.22EFFECTIVE DATE.This section is effective the day following final enactment.
