| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to capital investment; appropriating money for an interchange at the |
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| 3 | 3 | | 1.3 intersection of Highway 100 and Vernon Avenue in the city of Edina; authorizing |
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| 4 | 4 | | 1.4 the sale and issuance of state bonds. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. EDINA; HIGHWAY 100 AND VERNON AVENUE/WEST 50TH STREET |
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| 7 | 7 | | 1.7INTERCHANGE. |
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| 8 | 8 | | 1.8 Subdivision 1.Appropriation.(a) $5,300,000 is appropriated from the bond proceeds |
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| 9 | 9 | | 1.9account in the state transportation fund as provided in Minnesota Statutes, section 174.50, |
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| 10 | 10 | | 1.10to the commissioner of transportation for a grant to the city of Edina for preliminary design, |
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| 11 | 11 | | 1.11design, engineering, and construction of an interchange at marked Trunk Highway 100 and |
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| 12 | 12 | | 1.12Vernon Avenue/West 50th Street in the city of Edina. |
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| 13 | 13 | | 1.13 (b) Any surplus land created upon completion of the interchange project under this |
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| 14 | 14 | | 1.14section in the area bordered by Vernon Avenue/West 50th Street, Grange Road, Eden |
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| 15 | 15 | | 1.15Avenue, and marked Trunk Highway 100 must be dedicated for use by the city of Edina as |
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| 16 | 16 | | 1.16a fire station, a municipal campus, or both. |
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| 17 | 17 | | 1.17 Subd. 2.Bond sale.To provide the money appropriated in this section from the bond |
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| 18 | 18 | | 1.18proceeds account in the state transportation fund, the commissioner of management and |
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| 19 | 19 | | 1.19budget shall sell and issue bonds of the state in an amount up to $5,300,000 in the manner, |
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| 20 | 20 | | 1.20upon the terms, and with the effect prescribed by Minnesota Statutes, sections 16A.631 to |
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| 21 | 21 | | 1.2116A.675, and by the Minnesota Constitution, article XI, sections 4 to 7. The proceeds of |
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| 22 | 22 | | 1.22the bonds, except accrued interest and any premium received on the sale of the bonds, must |
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| 23 | 23 | | 1.23be credited to the bond proceeds account in the state transportation fund. |
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| 24 | 24 | | 1Section 1. |
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| 25 | 25 | | 25-02650 as introduced01/22/25 REVISOR JSK/ES |
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| 26 | 26 | | SENATE |
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| 27 | 27 | | STATE OF MINNESOTA |
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| 28 | 28 | | S.F. No. 1478NINETY-FOURTH SESSION |
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| 29 | 29 | | (SENATE AUTHORS: MANN and Latz) |
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| 30 | 30 | | OFFICIAL STATUSD-PGDATE |
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| 31 | 31 | | Introduction and first reading02/17/2025 |
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| 32 | 32 | | Referred to Capital Investment 2.1 EFFECTIVE DATE.This section is effective the day following final enactment. |
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| 33 | 33 | | 2Section 1. |
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| 34 | 34 | | 25-02650 as introduced01/22/25 REVISOR JSK/ES |
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