1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for reconstruction of marked 
1.3 	U.S. Highway 8; authorizing the sale and issuance of state bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. MARKED U.S. HIGHWAY 8 RECONSTRUCTION; APPROPRIATION 
1.6 	AND BOND SALE AUTHORIZATION.
 1.7 		Subdivision 1.Appropriation. $50,000,000 is appropriated from the bond proceeds 
1.8 	account in the trunk highway fund to the commissioner of transportation for a grant to 
1.9 	Chisago County to predesign, design, engineer, and construct a reconstruction of marked 
1.10 	U.S. Highway 8 from Karmel Avenue in Chisago City to Interstate 35 and pedestrian and 
1.11 	bike trails along and crossings of this portion of U.S. Highway 8. This reconstruction may 
1.12 	include expanding segments of U.S. Highway 8 to four lanes, constructing or reconstructing 
1.13 	frontage roads and backage roads, and realigning local roads to consolidate, remove, and 
1.14 	relocate access onto and off of U.S. Highway 8. This appropriation is for the portion of the 
1.15 	project that is eligible for use of proceeds of trunk highway bonds. This appropriation is 
1.16 	not available until the commissioner of management and budget determines that sufficient 
1.17 	resources have been committed from nonstate sources to complete the project. This 
1.18 	appropriation is available until the project is completed or abandoned.
1.19 		Subd. 2.Bond sale. To provide the money appropriated in subdivision 1 from the bond 
1.20 	proceeds account in the trunk highway fund, the commissioner of management and budget 
1.21 	shall sell and issue bonds of the state in an amount up to $50,000,000 in the manner, upon 
1.22 	the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52, 
1.23 	and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts 
2.1 	requested by the commissioner of transportation. The proceeds of the bonds, except accrued 
2.2 	interest and any premium received from the sale of the bonds, must be deposited in the bond 
2.3 	proceeds account in the trunk highway fund.
2.4 		Subd. 3.Marked U.S. Highway 8 reconstruction; application of planned 
2.5 	spending. Amounts planned by the Department of Transportation for the resurfacing of 
2.6 	U.S. Highway 8, as reflected in the department's Metro District 10-Year Capital Highway 
2.7 	Investment Plan 2020-2029, shall instead be applied to the reconstruction of U.S. Highway 
2.8 	8 to supplement appropriations for that purpose from any fund in this section.

2.9 	EFFECTIVE DATE. This section is effective the day following final enactment.