HF2951

Purpose of the Bill

The purpose of this bill is to allocate funds and authorize the selling of state bonds to finance improvements to the interchange at U.S. Highway 169 and Hennepin County State-Aid Highway 130, located in Maple Grove, Minnesota. These improvements aim to enhance the safety and capacity of the interchange.

Main Provisions

• Funding Allocation: The bill appropriates $12,300,000 from the bond proceeds account in the trunk highway fund. This funding is designated for several project phases, including predesign, right-of-way acquisition, design engineering, and construction.

• Bond Authorization: The bill gives authority to the commissioner of management and budget to sell and issue state bonds to raise up to $12,300,000. The bonds will be sold according to specific terms laid out in Minnesota statutes and the state constitution.

Significant Changes to Existing Law

This bill does not significantly alter current law but supplements existing transportation financing mechanisms by authorizing a specific bond sale to fund this infrastructure project. There is no requirement for non-state matching funds, suggesting that this project is fully funded by the state through bond proceeds.

Relevant Terms

• Appropriation
• Bond Sale
• Trunk Highway Fund
• Right-of-Way Acquisition
• Design Engineering
• Interchange Improvements
• State Bonds
• Highway Safety
• Infrastructure Financing