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A bill for an act
relating to capital investment; appropriating money for improvements to a segment
of Welk Drive in Faribault County; 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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FARIBAULT COUNTY; WELK DRIVE IMPROVEMENTS.
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Subdivision 1.
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Appropriation.
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$1,800,000 is appropriated from the bond proceeds
account in the state transportation fund as provided in Minnesota Statutes, section 174.50,
to the commissioner of transportation for a grant to Faribault County to design and construct
improvements to Faribault County State-Aid Highway 63/Welk Drive between Faribault
County State-Aid Highway 16 and the city boundary to accommodate an expansion of an
industrial park adjacent to the project area in the city of Blue Earth.
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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 account in the state transportation fund, the commissioner of management and
budget shall sell and issue bonds of the state in an amount up to $1,800,000 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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EFFECTIVE DATE.
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This section is effective the day following final enactment.
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