Minnesota HF 2452: Rondo Land Bridge project funding provided, bonds issued, and money appropriated.

Bill Text

1.1 A bill for an act​
1.2 relating to transportation; capital investment; appropriating money for the Rondo​
1.3 Land Bridge project; authorizing the sale and issuance of state bonds.​
1.4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.5 Section 1. RONDO LAND BRIDGE; APPROPRIATION AND BOND SALE​
1.6 AUTHORIZATION.​
1.7 Subdivision 1.Appropriation; Rondo Land Bridge.(a) $458,900,000 is appropriated​
1.8 from the bond proceeds account in the trunk highway fund to the commissioner of​
1.9 transportation for predesign, design, engineering, environmental review, land acquisition,​
1.10 and construction of a land bridge cap over marked Interstate Highway 94 in a portion of​
1.11 the segment from Lexington Avenue to approximately Rice Street in St. Paul.​
1.12 (b) The amount appropriated in paragraph (a) is reduced by the total amount of funds​
1.13 that the commissioner determines is committed for the project from federal, local, and​
1.14 private sources. The commissioner must consult with the commissioner of management​
1.15 and budget on any reduction to the appropriation amount and must notify the chairs and​
1.16 ranking minority members of the legislative committees with jurisdiction over transportation​
1.17 policy and finance and capital investment regarding a reduction.​
1.18 (c) The project specified in this subdivision is a highway purpose within the meaning​
1.19 of the Minnesota Constitution, article XIV.​
1.20 Subd. 2.Bond sale.To provide the money appropriated in subdivision 1 from the bond​
1.21 proceeds account in the trunk highway fund, the commissioner of management and budget​
1.22 shall sell and issue bonds of the state in an amount up to $458,900,000 in the manner, upon​
1​Section 1.​
REVISOR KRB/RC 21-03777​03/15/21 ​
State of Minnesota​
This Document can be made available​
in alternative formats upon request​
HOUSE OF REPRESENTATIVES​
H. F. No. 2452​
NINETY-SECOND SESSION​
Authored by Richardson​04/06/2021​
The bill was read for the first time and referred to the Committee on Transportation Finance and Policy​

2.1 the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52,​
2.2 and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts​
2.3 requested by the commissioner of transportation. The proceeds of the bonds, except accrued​
2.4 interest and any premium received from the sale of the bonds, must be deposited in the bond​
2.5 proceeds account in the trunk highway fund.​
2.6 EFFECTIVE DATE.This section is effective the day following final enactment.​
2​Section 1.​
REVISOR KRB/RC 21-03777​03/15/21 ​