Bill Text: MN SF426 | 2013-2014 | 88th Legislature | Introduced
Bill Title: I-94 Rogers to Monticello additional lanes bond issue and appropriation
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2013-02-14 - Author added Pederson. J. [SF426 Detail]
Download: Minnesota-2013-SF426-Introduced.html
1.2relating to transportation; capital investment; appropriating money for expanding
1.3capacity on a portion of Interstate Highway 94; authorizing sale of trunk highway
1.4bonds.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. APPROPRIATION; BOND SALE AUTHORIZATION.
1.7 Subdivision 1. Appropriation. $100,000,000 is appropriated from the bond
1.8proceeds account in the trunk highway fund to the commissioner of transportation to
1.9expand capacity by constructing additional lanes on Interstate Highway 94 between the
1.10cities of Rogers and Monticello.
1.11 Subd. 2. Bond sale authorization. To provide the money appropriated in
1.12subdivision 1 from the bond proceeds account in the trunk highway fund, the commissioner
1.13of management and budget shall sell and issue bonds of the state in an amount up to
1.14$100,000,000 in the manner, upon the terms, and with the effect prescribed by Minnesota
1.15Statutes, sections 167.50 to 167.52, and by the Minnesota Constitution, article XIV, section
1.1611, at the times and in the amounts requested by the commissioner of transportation. The
1.17proceeds of the bonds, except accrued interest and any premium received from the sale of
1.18the bonds, must be deposited in the bond proceeds account in the trunk highway fund.
1.19EFFECTIVE DATE.This section is effective the day following final enactment.
1.3capacity on a portion of Interstate Highway 94; authorizing sale of trunk highway
1.4bonds.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. APPROPRIATION; BOND SALE AUTHORIZATION.
1.7 Subdivision 1. Appropriation. $100,000,000 is appropriated from the bond
1.8proceeds account in the trunk highway fund to the commissioner of transportation to
1.9expand capacity by constructing additional lanes on Interstate Highway 94 between the
1.10cities of Rogers and Monticello.
1.11 Subd. 2. Bond sale authorization. To provide the money appropriated in
1.12subdivision 1 from the bond proceeds account in the trunk highway fund, the commissioner
1.13of management and budget shall sell and issue bonds of the state in an amount up to
1.14$100,000,000 in the manner, upon the terms, and with the effect prescribed by Minnesota
1.15Statutes, sections 167.50 to 167.52, and by the Minnesota Constitution, article XIV, section
1.1611, at the times and in the amounts requested by the commissioner of transportation. The
1.17proceeds of the bonds, except accrued interest and any premium received from the sale of
1.18the bonds, must be deposited in the bond proceeds account in the trunk highway fund.
1.19EFFECTIVE DATE.This section is effective the day following final enactment.
