Bill Text: MN SF888 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Trunk highway #14 upgrade to four-lane divided highway bond issue and appropriation
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-02-28 - Referred to Finance [SF888 Detail]
Download: Minnesota-2013-SF888-Introduced.html
1.2relating to transportation; appropriating money for reconstruction of marked
1.3Trunk Highway 14; authorizing the sale and issuance of trunk highway bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. MARKED TRUNK HIGHWAY 14; APPROPRIATION AND BOND
1.6SALE AUTHORIZATION.
1.7 Subdivision 1. Appropriation. $160,000,000 is appropriated from the bond proceeds
1.8account in the trunk highway fund to the commissioner of transportation for construction
1.9and reconstruction of marked Trunk Highway 14 as a four-lane divided highway, from the
1.10interchange with marked Interstate Highway 35 near the city of Owatonna to the point
1.11near the city of Dodge Center at which marked Trunk Highway 14 constitutes a four-lane
1.12divided highway, located southeast of the intersection with marked Trunk Highway 56.
1.13 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.14bond proceeds account in the trunk highway fund, the commissioner of management and
1.15budget shall sell and issue bonds of the state in an amount up to $160,000,000 in the
1.16manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.17167.50 to 167.52, and by the Minnesota Constitution, article XIV, section 11, at the times
1.18and in the amounts requested by the commissioner of transportation. The proceeds of the
1.19bonds, except accrued interest and any premium received from the sale of the bonds, must
1.20be deposited in the bond proceeds account in the trunk highway fund.
1.21EFFECTIVE DATE.This section is effective the day following final enactment.
1.3Trunk Highway 14; authorizing the sale and issuance of trunk highway bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. MARKED TRUNK HIGHWAY 14; APPROPRIATION AND BOND
1.6SALE AUTHORIZATION.
1.7 Subdivision 1. Appropriation. $160,000,000 is appropriated from the bond proceeds
1.8account in the trunk highway fund to the commissioner of transportation for construction
1.9and reconstruction of marked Trunk Highway 14 as a four-lane divided highway, from the
1.10interchange with marked Interstate Highway 35 near the city of Owatonna to the point
1.11near the city of Dodge Center at which marked Trunk Highway 14 constitutes a four-lane
1.12divided highway, located southeast of the intersection with marked Trunk Highway 56.
1.13 Subd. 2. Bond sale. To provide the money appropriated in subdivision 1 from the
1.14bond proceeds account in the trunk highway fund, the commissioner of management and
1.15budget shall sell and issue bonds of the state in an amount up to $160,000,000 in the
1.16manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections
1.17167.50 to 167.52, and by the Minnesota Constitution, article XIV, section 11, at the times
1.18and in the amounts requested by the commissioner of transportation. The proceeds of the
1.19bonds, except accrued interest and any premium received from the sale of the bonds, must
1.20be deposited in the bond proceeds account in the trunk highway fund.
1.21EFFECTIVE DATE.This section is effective the day following final enactment.
