1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for Oslo area Red River flood 
1.3 	mitigation project; 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. OSLO AREA FLOOD MITIGATION; APPROPRIATIONS AND BOND 
1.6 	SALE AUTHORIZATIONS.
 1.7 		Subdivision 1.Appropriations. (a) $13,390,000 is appropriated from the bond proceeds 
1.8 	account in the trunk highway fund to the commissioner of transportation for phase 1 of the 
1.9 	Oslo area flood mitigation project as follows:
1.10 	(1) $11,680,000 for reconstruction or replacement of the marked Trunk Highway 1 
1.11 	bridge over the Red River at Oslo and the border with North Dakota, which may include 
1.12 	approach work on marked Trunk Highway 1; and
1.13 	(2) $1,710,000 for reconstruction or replacement of the marked Trunk Highway 317 
1.14 	bridge over the Red River in Marshall County at the border with North Dakota.
1.15 	(b) $6,790,000 is appropriated from the bond proceeds fund to the commissioner of 
1.16 	transportation for phase 1 of the Oslo area flood mitigation project as follows:
1.17 	(1) $460,000 for regrading, resurfacing, and reconstruction of roadways and levees in 
1.18 	the vicinity of the Red River and the marked Trunk Highway 317 bridge over the Red River; 
1.19 	and
1.20 	(2) $6,330,000 for reconstruction or replacement of the railroad bridge over the Red 
1.21 	River near marked Trunk Highway 1 at Oslo and the border with North Dakota, which may 
1.22 	be used for a grant to a railroad to perform the project work.
2.1 	(c) Each appropriation under this subdivision is available for predesign, design, 
2.2 	preliminary and final engineering, environmental analysis, right-of-way acquisition, and 
2.3 	construction, including demolition.
2.4 	(d) Each appropriation under this subdivision is for the Minnesota share of project costs 
2.5 	and must only be used for acquisition, betterment, and improvement within Minnesota. 
2.6 	Each appropriation under this subdivision is available when the commissioner of management 
2.7 	and budget determines that an amount has been committed that is sufficient to complete 
2.8 	phase 1 of the project, as required by Minnesota Statutes, section 16A.502.
2.9 		Subd. 2.Bond sale. (a) To provide the money appropriated in subdivision 1, paragraph 
2.10 	(a), from the bond proceeds account in the trunk highway fund, the commissioner of 
2.11 	management and budget shall sell and issue bonds of the state in an amount up to $13,390,000 
2.12 	in the manner, upon the terms, and with the effect prescribed by Minnesota Statutes, sections 
2.13 	167.50 to 167.52, and by the Minnesota Constitution, article XIV, section 11, at the times 
2.14 	and in the amounts requested by the commissioner of transportation. The proceeds of the 
2.15 	bonds, except accrued interest and any premium received from the sale of the bonds, must 
2.16 	be deposited in the bond proceeds account in the trunk highway fund.
2.17 	(b) To provide the money appropriated in subdivision 1, paragraph (b), from the bond 
2.18 	proceeds fund, the commissioner of management and budget shall sell and issue bonds of 
2.19 	the state in an amount up to $6,790,000 in the manner, upon the terms, and with the effect 
2.20 	prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
2.21 	Constitution, article XI, sections 4 to 7.

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