SF781

Purpose

• To provide funding for intersection improvements along marked U.S. Highway 14 in the city of Byron.
• To authorize the sale and issuance of state bonds to support these improvements.

Main Provisions

• Subdivision 1 – Appropriation and project scope
  • A total of $2,400,000 from the bond proceeds account in the trunk highway fund is appropriated to the commissioner of transportation.
  • The money funds environmental analysis, predesign, and final design for replacing at-grade intersections with grade-separated interchanges along U.S. Highway 14.
  • The project includes intersections with Olmsted County StateAid Highway 3 and Olmsted County StateAid Highway 5 in the city of Byron.
  • After substantial completion of the environmental analysis, predesign, and design/engineering work, any remaining funds may be used for Minnesota’s share to acquire right-of-way and to construct, furnish, and equip the interchanges and related infrastructure and road work.
• Subdivision 2 – Bond sale
  • The commissioner of management and budget must sell and issue state bonds up to $2,400,000 to finance the appropriation in subdivision 1.
  • Bond terms follow Minnesota Statutes sections 167.50 to 167.52 and the Minnesota Constitution article XIV, section 11.
  • Proceeds (excluding accrued interest and any sale premium) go into the bond proceeds account in the trunk highway fund.

Significance / Changes to Existing Law

• Establishes a new targeted funding mechanism (bond issuance) for upgrading specific intersections on U.S. Highway 14 in Byron.
• Creates a dedicated bond proceeds appropriation and related financing process to support environmental, design, right-of-way, and construction activities for grade-separated interchanges.
• Codifies where bond proceeds must be deposited and how the bonds are to be issued and governed under existing state statutes and constitutional authority.

Key Terms (from bill text)

• U.S. Highway 14, Byron
• grade-separated interchanges
• at-grade intersections
• environmental analysis
• predesign, final design
• right-of-way
• Olmsted County StateAid Highway 3 and 5
• trunk highway bond proceeds / bond proceeds account
• bond sale / bonds
• Minnesota Statutes 167.50 to 167.52
• Minnesota Constitution article XIV section 11

Relevant Terms - U.S. Highway 14 - Byron - grade-separated interchanges - at-grade intersections - environmental analysis - predesign - final design - right-of-way - Olmsted County StateAid Highway 3 - Olmsted County StateAid Highway 5 - bond proceeds account - trunk highway fund - bond sale - bonds - Minnesota Statutes 167.50-167.52 - Minnesota Constitution Article XIV Section 11