Bill Text: MN SF659 | 2011-2012 | 87th Legislature | Introduced
Bill Title: I-494 additional lanes bond issue and appropriation
Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 2011-03-09 - Referred to Transportation [SF659 Detail]
Download: Minnesota-2011-SF659-Introduced.html
1.2relating to highways; appropriating money for adding lanes to a portion of
1.3Interstate 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
1.7proceeds account in the trunk highway fund to the commissioner of transportation, for
1.8reconstruction of marked Interstate Highway 494, to add additional lanes from the
1.9interchange at marked Trunk Highway 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.
1.3Interstate 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
1.7proceeds account in the trunk highway fund to the commissioner of transportation, for
1.8reconstruction of marked Interstate Highway 494, to add additional lanes from the
1.9interchange at marked Trunk Highway 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.
