Purpose

The bill would fund and authorize the design and construction-related financing for an interchange at the intersection of Trunk Highway 10, Trunk Highway 61, and 70th Street in St. Paul Park, Minnesota. It would authorize the sale of state bonds to cover the project costs and specify how the bond proceeds should be handled.

Main Provisions

• Subdivision 1 – Appropriation

  • Appropriates money from the bond proceeds account within the Trunk Highway Fund to the commissioner of transportation.
  • The funds are for both preliminary design and final design of the interchange at marked Trunk Highway 10/Trunk Highway 61 and Washington County State Aid Highway 22 (70th Street) in the city of St. Paul Park.

• Subdivision 2 – Bond Sale

  • Authorizes the sale and issuance of state bonds up to a specified amount (the exact amount is not shown in the excerpt) to finance the appropriation.
  • Bond issuance must follow Minnesota statutes (sections 167.50 to 167.52) and the Minnesota Constitution (Article XIV, Section 11).
  • Proceeds of the bonds, excluding accrued interest and any premium, must be deposited into the bond proceeds account in the Trunk Highway Fund.

Financial Mechanism and Implementation

• Funding Source: Bond proceeds account within the Trunk Highway Fund.
• Responsible Parties: Commissioner of Transportation (design work) and Commissioner of Management and Budget (bond issuance).
• Use of Funds: For both preliminary and final design of the interchange project.
• Legal Framework: Bonding action follows existing state bond statutes and constitutional provisions.

Significance and Impact

• Purposeful Infrastructure Improvement: Advances planning work for a new interchange to improve traffic flow and transportation efficiency in St. Paul Park.
• Financial Structure: Leverages state bonding authority to fund design costs, with strict handling of bond proceeds under established state law.
• Legal/Administrative Context: Built on existing bonding statutes and constitutional provisions rather than creating new, standalone financing rules.

Significant Changes to Existing Law

• The bill would authorize a new bonding action and appropriation specifically for the St. Paul Park interchange project, integrating this project into the state’s trunk highway funding and bonding framework. It directs bond proceeds handling and references the standard bonding process under current statutes and constitutional authority.

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Relevant Terms - Interchange - Trunk Highway 10 - Trunk Highway 61 - Washington County State Aid Highway 22 - 70th Street - St. Paul Park - appropriation - preliminary design - final design - bond proceeds account - Trunk Highway Fund - bonds / state bonds - bond sale - Minnesota Statutes sections 167.50 to 167.52 - Minnesota Constitution Article XIV Section 11 - bond proceeds (excluding accrued interest and premium)