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A bill for an act
relating to capital investment; appropriating money for reconstruction of marked
U.S. Highway 8; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
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MARKED U.S. HIGHWAY 8 RECONSTRUCTION; TRUNK HIGHWAY
BONDS.
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Subdivision 1.
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Appropriation.
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$24,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to predesign,
design, engineer, and construct a reconstruction of marked U.S. Highway 8 from Karmel
Avenue in Chisago City to Interstate 35 and pedestrian and bike trails along and crossings
of this portion of U.S. Highway 8. This reconstruction may include expanding segments of
U.S. Highway 8 to four lanes, constructing or reconstructing frontage roads and backage
roads, and realigning local roads to consolidate, remove, and relocate access onto and off
of U.S. Highway 8. This appropriation is for the portion of the project that is eligible for
use of proceeds of trunk highway bonds. This appropriation is not available until the
commissioner of management and budget determines that sufficient resources have been
committed from nonstate sources to complete the project. This appropriation is available
until the project is completed or abandoned.
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Subd. 2.
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Bond sale.
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To provide the money appropriated in subdivision 1 from the bond
proceeds account in the trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $24,000,000 in the manner, upon
the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52,
and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts
requested by the commissioner of transportation. The proceeds of the bonds, except accrued
interest and any premium received from the sale of the bonds, must be deposited in the bond
proceeds account in the trunk highway fund.
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Subd. 3.
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Marked U.S. Highway 8 reconstruction; application of planned
spending.
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Amounts planned by the Department of Transportation for the resurfacing of
U.S. Highway 8, as reflected in the department's Metro District 10-Year Capital Highway
Investment Plan 2020-2029, shall instead be applied to the reconstruction of U.S. Highway
8 to supplement appropriations for that purpose from any fund in this section.
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EFFECTIVE DATE.
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This section is effective the day following final enactment.
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Sec. 2.
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MARKED U.S. HIGHWAY 8 RECONSTRUCTION; GENERAL
OBLIGATION BONDS.
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Subdivision 1.
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Appropriation.
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$15,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to Chisago County to predesign,
design, engineer, and construct a reconstruction of marked U.S. Highway 8 from Karmel
Avenue in Chisago City to Interstate 35 and pedestrian and bike trails along and crossings
of this portion of U.S. Highway 8. This reconstruction may include expanding segments of
U.S. Highway 8 to four lanes, constructing or reconstructing frontage roads and backage
roads, and realigning local roads to consolidate, remove, and relocate access onto and off
of U.S. Highway 8. This appropriation is for the portion of the project that is eligible for
use of proceeds of general obligation bonds. This appropriation is not available until the
commissioner of management and budget determines that sufficient resources have been
committed from nonstate sources to complete the project. This appropriation is available
until the project is completed or abandoned.
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Subd. 2.
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Bond sale.
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To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $15,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
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Subd. 3.
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Marked U.S. Highway 8 reconstruction; application of planned
spending.
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Amounts planned by the Department of Transportation for the resurfacing of
U.S. Highway 8, as reflected in the department's Metro District 10-Year Capital Highway
Investment Plan 2020-2029, shall instead be applied to the reconstruction of U.S. Highway
8 to supplement appropriations for that purpose from any fund in this section.
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EFFECTIVE DATE.
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This section is effective the day following final enactment.
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