Bill Text: MN SF2200 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Minnesota River in Carver and Scott counties local bridge bond issue and appropriation
Spectrum: Partisan Bill (Republican 5-0)
Status: (Introduced - Dead) 2012-03-01 - Referred to Capital Investment [SF2200 Detail]
Download: Minnesota-2011-SF2200-Introduced.html
1.2relating to transportation; appropriating money for local bridge; authorizing
1.3the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION AND BOND SALE AUTHORIZATION.
1.6 Subdivision 1. Appropriation. $10,000,000 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 design and construction of a four-lane bridge
1.9over the flood plain of the Minnesota River between Carver and Scott Counties along the
1.10alignment of old Trunk Highway 101. This appropriation must be disbursed when the
1.11commissioner of transportation certifies that the estimated cost of the project in excess of
1.12the amount appropriated in this section is assured by funds appropriated to the agency and
1.13obligated for the bridge project.
1.14 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.15bond proceeds account in the state transportation fund, the commissioner of management
1.16and budget shall sell and issue bonds of the state in an amount up to $10,000,000 in the
1.17manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.1816A.631 to 16A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The
1.19proceeds of the bonds, except accrued interest and any premium received on the sale of
1.20the bonds, must be credited to the bond proceeds account in the state transportation fund.
1.21EFFECTIVE DATE.This section is effective the day following final enactment.
1.3the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION AND BOND SALE AUTHORIZATION.
1.6 Subdivision 1. Appropriation. $10,000,000 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 design and construction of a four-lane bridge
1.9over the flood plain of the Minnesota River between Carver and Scott Counties along the
1.10alignment of old Trunk Highway 101. This appropriation must be disbursed when the
1.11commissioner of transportation certifies that the estimated cost of the project in excess of
1.12the amount appropriated in this section is assured by funds appropriated to the agency and
1.13obligated for the bridge project.
1.14 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.15bond proceeds account in the state transportation fund, the commissioner of management
1.16and budget shall sell and issue bonds of the state in an amount up to $10,000,000 in the
1.17manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.1816A.631 to 16A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The
1.19proceeds of the bonds, except accrued interest and any premium received on the sale of
1.20the bonds, must be credited to the bond proceeds account in the state transportation fund.
1.21EFFECTIVE DATE.This section is effective the day following final enactment.
