Bill Text: MN SF2970 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Public roads and bridges bond issue and bond proceeds appropriation procedures modification
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2014-04-23 - Referred to Finance [SF2970 Detail]
Download: Minnesota-2013-SF2970-Introduced.html
1.2relating to capital investment; appropriating 50 percent of bond proceeds for
1.3repair of public roads and bridges; authorizing the sale and issuance of state bonds;
1.4amending Minnesota Statutes 2012, section 16A.641, by adding a subdivision.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 16A.641, is amended by adding a
1.7subdivision to read:
1.8 Subd. 8a. Appropriation of 50 percent of bond proceeds for road and bridge
1.9repair; bond sale authorization. One dollar is appropriated from the bond proceeds fund
1.10to the commissioner of transportation for repair and reconstruction of public roads and
1.11bridges, other than trunk highways, for each dollar appropriated from the bond proceeds
1.12fund for a project, other than public road and bridge repair or reconstruction, for which the
1.13debt is authorized under the Minnesota Constitution, article XI, section 5, paragraph (a).
1.14To provide the money appropriated in this subdivision, the commissioner of management
1.15and budget shall sell and issue bonds of the state for the necessary amount in the manner,
1.16upon the terms, and with the effect prescribed by Minnesota Statutes, sections 16A.631 to
1.1716A.675, and by the Minnesota Constitution, article XI, sections 4 to 7.
1.3repair of public roads and bridges; authorizing the sale and issuance of state bonds;
1.4amending Minnesota Statutes 2012, section 16A.641, by adding a subdivision.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 16A.641, is amended by adding a
1.7subdivision to read:
1.8 Subd. 8a. Appropriation of 50 percent of bond proceeds for road and bridge
1.9repair; bond sale authorization. One dollar is appropriated from the bond proceeds fund
1.10to the commissioner of transportation for repair and reconstruction of public roads and
1.11bridges, other than trunk highways, for each dollar appropriated from the bond proceeds
1.12fund for a project, other than public road and bridge repair or reconstruction, for which the
1.13debt is authorized under the Minnesota Constitution, article XI, section 5, paragraph (a).
1.14To provide the money appropriated in this subdivision, the commissioner of management
1.15and budget shall sell and issue bonds of the state for the necessary amount in the manner,
1.16upon the terms, and with the effect prescribed by Minnesota Statutes, sections 16A.631 to
1.1716A.675, and by the Minnesota Constitution, article XI, sections 4 to 7.
