as introduced - 93rd Legislature (2023 - 2024) Posted on 02/27/2024 09:22am
A bill for an act
relating to transportation; appropriating money to construct a roundabout on marked
U.S. Highway 8 in the city of Shafer; authorizing the sale and issuance of state
bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
new text begin
$3,500,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for environmental
analysis, predesign, design, engineering, and construction of a roundabout on marked U.S.
Highway 8 at its intersection with Chisago County State-Aid Highway 21 in the city of
Shafer. This appropriation is for the portion of the project that is eligible for use of proceeds
of trunk highway bonds.
new text end
new text begin
To provide the money appropriated in this section from the bond
proceeds account in the trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $3,500,000 in the manner, upon
the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52,
and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts
requested by the commissioner of transportation. The proceeds of the bonds, except accrued
interest and any premium received from the sale of the bonds, must be deposited in the bond
proceeds account in the trunk highway fund.
new text end
new text begin
This section is effective the day following final enactment.
new text end