Bill Text: MN HF967 | 2013-2014 | 88th Legislature | Introduced
Bill Title: I-35W/I-494 Interchange funding provided, bonds issued, and money appropriated.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2013-02-28 - Introduction and first reading, referred to Transportation Finance [HF967 Detail]
Download: Minnesota-2013-HF967-Introduced.html
1.2relating to transportation; capital investment; appropriating money for the
1.3I-35W/I-494 Interchange; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. I-35W/I-494 INTERCHANGE.
1.6 Subdivision 1. Appropriation. $50,000,000 is appropriated from the bond proceeds
1.7account in the trunk highway fund to the commissioner of transportation for reconstruction
1.8of the 82nd Street Bridge as described in the preliminary design report completed in
1.92010 for the Interchange of marked Interstate Highway 35W and marked Interstate
1.10Highway 494 in the city of Bloomington. This appropriation includes money for design,
1.11environmental work, right-of-way acquisition, and construction.
1.12 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.13bond proceeds account in the trunk highway fund, the commissioner of management
1.14and budget shall sell and issue bonds of the state in an amount up to $50,000,000 in the
1.15manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.16167.50 to 167.52, and by the Minnesota Constitution, article XIV, section 11, at the times
1.17and in the amounts requested by the commissioner of transportation. The proceeds of the
1.18bonds, except accrued interest and any premium received from the sale of the bonds, must
1.19be deposited in the bond proceeds account in the trunk highway fund.
1.20EFFECTIVE DATE.This section is effective the day following final enactment.
1.3I-35W/I-494 Interchange; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. I-35W/I-494 INTERCHANGE.
1.6 Subdivision 1. Appropriation. $50,000,000 is appropriated from the bond proceeds
1.7account in the trunk highway fund to the commissioner of transportation for reconstruction
1.8of the 82nd Street Bridge as described in the preliminary design report completed in
1.92010 for the Interchange of marked Interstate Highway 35W and marked Interstate
1.10Highway 494 in the city of Bloomington. This appropriation includes money for design,
1.11environmental work, right-of-way acquisition, and construction.
1.12 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.13bond proceeds account in the trunk highway fund, the commissioner of management
1.14and budget shall sell and issue bonds of the state in an amount up to $50,000,000 in the
1.15manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.16167.50 to 167.52, and by the Minnesota Constitution, article XIV, section 11, at the times
1.17and in the amounts requested by the commissioner of transportation. The proceeds of the
1.18bonds, except accrued interest and any premium received from the sale of the bonds, must
1.19be deposited in the bond proceeds account in the trunk highway fund.
1.20EFFECTIVE DATE.This section is effective the day following final enactment.
