HF232

Purpose

• The bill aims to fund road improvements in Forest Lake by approving a financial plan that supports land acquisition and construction for the Forest Road North realignment, including improvements at the intersection with 11th Avenue.

Main Provisions

• Subdivision 1 — Appropriation:
  • There is an appropriation of 4,000,000 from the bond proceeds fund.
  • This money is designated for a grant to the city of Forest Lake.
  • The grant is for land acquisition and construction related to the Forest Road North realignment and its improvements at the intersection with 11th Avenue within Forest Lake.
• Subdivision 2 — Bond Sale:
  • The state shall sell and issue bonds up to 4,000,000 to fund the appropriation.
  • Bond issuance must follow the terms and effects described in Minnesota Statutes sections 16A.631 to 16A.675 and Minnesota Constitution article XI sections 4 to 7.

Funding and Financing Details

• Source of Funds:
  • Bond proceeds fund is the source of the 4,000,000 appropriation.
• Financing Mechanism:
  • The money will be raised by selling state bonds up to 4,000,000.
  • The bond sale will conform to the referenced statutes and constitutional provisions.

Project Location and Scope

• Location: Forest Lake, Minnesota.
• Scope:
  • Realignment of Forest Road North.
  • Land acquisition related to the realignment.
  • Construction and improvements at the Forest Road North intersection with 11th Avenue.

Significance and Legal Changes

• This bill authorizes state funding for a local road project and establishes the bonding mechanism to finance it.
• It does not create new taxes or alter existing law beyond authorizing the appropriation and bond issuance for this project, and it directs funding and financing to support the specified road work.

Relevant Terms - bond proceeds fund - appropriation - grant - land acquisition - construction - Forest Road North realignment - intersection with 11th Avenue - city of Forest Lake - commissioner of transportation - commissioner of management and budget - state bonds - bond sale - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution article XI sections 4 to 7