Bill Text: MN SF239 | 2013-2014 | 88th Legislature | Introduced
Bill Title: I-494 additional lanes at trunk highway #55 bond issue and appropriation
Sponsorship: Moderate Partisan Bill (Democrat 4-1)
Status: (Introduced - Dead) 2013-02-04 - Referred to Finance [SF239 Detail]
Download: Minnesota-2013-SF239-Introduced.html
1.2relating to transportation; highways; appropriating money for adding lanes to a
1.3portion of Interstate Highway 494; authorizing sale of trunk highway bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION; BOND SALE AUTHORIZATION.
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 to construct
1.8additional lanes on marked Interstate Highway 494 from the interchange at marked Trunk
1.9Highway 55 to the bridge over East Fish Lake Road.
1.10 Subd. 2. Bond sale authorization. To provide the money appropriated in
1.11subdivision 1 from the bond proceeds account in the trunk highway fund, the commissioner
1.12of management and budget shall sell and issue bonds of the state in an amount up to
1.13$50,000,000 in the manner, upon the terms, and with the effect prescribed by Minnesota
1.14Statutes, sections 167.50 to 167.52, and by the Minnesota Constitution, article XIV, section
1.1511, at the times and in the amounts requested by the commissioner of transportation. The
1.16proceeds of the bonds, except accrued interest and any premium received from the sale of
1.17the bonds, must be deposited in the bond proceeds account in the trunk highway fund.
1.18EFFECTIVE DATE.This section is effective the day following final enactment.
1.3portion of Interstate Highway 494; authorizing sale of trunk highway bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION; BOND SALE AUTHORIZATION.
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 to construct
1.8additional lanes on marked Interstate Highway 494 from the interchange at marked Trunk
1.9Highway 55 to the bridge over East Fish Lake Road.
1.10 Subd. 2. Bond sale authorization. To provide the money appropriated in
1.11subdivision 1 from the bond proceeds account in the trunk highway fund, the commissioner
1.12of management and budget shall sell and issue bonds of the state in an amount up to
1.13$50,000,000 in the manner, upon the terms, and with the effect prescribed by Minnesota
1.14Statutes, sections 167.50 to 167.52, and by the Minnesota Constitution, article XIV, section
1.1511, at the times and in the amounts requested by the commissioner of transportation. The
1.16proceeds of the bonds, except accrued interest and any premium received from the sale of
1.17the bonds, must be deposited in the bond proceeds account in the trunk highway fund.
1.18EFFECTIVE DATE.This section is effective the day following final enactment.
