SF 2079

02/24/25  REVISOR  KRB/BM  25-04275      as introduced
  SENATE
  STATE OF MINNESOTA
  NINETY-FOURTH SESSION  S.F. No. 2079
  (SENATE AUTHORS: LIMMER, Westlin and Jasinski)
  DATE       D-PG  OFFICIAL STATUS
  03/03/2025       612 Introduction and first reading
  Referred to Transportation
1.1A bill for an act
1.2relating to transportation; appropriating money for a project on Trunk Highway
1.355 in Hennepin County; authorizing the sale and issuance of state bonds.
1.4    BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5Section 1. TRUNK HIGHWAY 55.
1.6Subdivision 1. Appropriation. $55,000,000 is appropriated from the bond proceeds
1.7    account in the trunk highway fund to the commissioner of transportation for acquisition of
1.8    right-of-way, engineering, and construction to reconstruct marked Trunk Highway 55 as a
1.9    four-lane divided highway from a point near Hennepin County Road 118, known as
1.10   Arrowhead Drive, in the city of Medina to Hennepin County State-Aid Highway 19 near
1.11   the city of Loretto.
1.12Subd. 2. Bond sale. To provide the money appropriated in this section from the bond
1.13   proceeds account in the trunk highway fund, the commissioner of management and budget
1.14   shall sell and issue bonds of the state in an amount up to $55,000,000 in the manner, upon
1.15   the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52,
1.16   and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts
1.17   requested by the commissioner of transportation. The proceeds of the bonds, except accrued
1.18   interest and any premium received from the sale of the bonds, must be deposited in the bond
1.19   proceeds account in the trunk highway fund.
1.20EFFECTIVE DATE. This section is effective the day following final enactment.
Section 1.  1