1.1 A bill for an act
1.2 relating to transportation; appropriating money for a project on Trunk Highway
1.3 55 in Hennepin County; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. TRUNK HIGHWAY 55; APPROPRIATION AND BOND SALE
1.6AUTHORIZATION.
1.7 Subdivision 1.Appropriation.$4,500,000 is appropriated from the bond proceeds
1.8account in the trunk highway fund to the commissioner of transportation for preliminary
1.9design, final design, and right-of-way acquisition to establish marked Trunk Highway 55
1.10as a four-lane divided highway from a point near Hennepin County Road 118, known as
1.11Arrowhead Drive, in Medina to Hennepin County State-Aid Highway 19 in Corcoran.
1.12 Subd. 2.Bond sale.To provide the money appropriated in subdivision 1 from the bond
1.13proceeds account in the trunk highway fund, the commissioner of management and budget
1.14shall sell and issue bonds of the state in an amount up to $4,500,000 in the manner, upon
1.15the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52,
1.16and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts
1.17requested by the commissioner of transportation. The proceeds of the bonds, except accrued
1.18interest and any premium received from the sale of the bonds, must be deposited in the bond
1.19proceeds account in the trunk highway fund.
1.20 EFFECTIVE DATE.This section is effective the day following final enactment.
1Section 1.
23-01196 as introduced12/16/22 REVISOR KRB/CH
SENATE
STATE OF MINNESOTA
S.F. No. 605NINETY-THIRD SESSION
(SENATE AUTHORS: WESTLIN)
OFFICIAL STATUSD-PGDATE
Introduction and first reading01/23/2023
Referred to Transportation