SF841

Purpose

The bill provides funding for a road construction project in Benton County. Specifically, it aims to extend County StateAid Highway (CSAH) 29 to create a new roadway connection between CSAH 1 and CSAH 3 as part of the Beltline Corridor project in the greater St. Cloud area.

Main Provisions

• Appropriation: It appropriates $8,750,000 from the bond proceeds fund to the commissioner of transportation to grant Benton County for the CSAH 29 extension project (creating the new connection between CSAH 1 and CSAH 3 as part of the Beltline Corridor).
• Bonding authorization: It authorizes the sale and issuance of state bonds in an amount up to $8,750,000 to fund the appropriation. The bond sale must follow the terms and effects described in Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution article XI sections 4 to 7.

Financial Details and Fiscal Mechanisms

• Source of funds: Bond proceeds fund.
• Responsible agencies: Commissioner of Transportation (to use the funds as a grant to Benton County) and the Commissioner of Management and Budget (to oversee the sale and issuance of bonds).
• Legal framework: Bond issuance and the project must comply with Minnesota statutes on debt issuance and the state constitution.

Significant Changes to Existing Law

• This bill would introduce a new appropriation and a new bonding authorization for a specific Benton County highway project within the Beltline Corridor. It creates a funding mechanism (bond proceeds) and uses debt financing to support infrastructure in the St. Cloud area. No broad statutory changes are described; rather, it adds a targeted capital investment project and the associated debt authority.

Relevant Terms - Benton County - CSAH 29 - CSAH 1 - CSAH 3 - Beltline Corridor - St. Cloud Area - road extension / new roadway connection - grant - appropriation - bond proceeds fund - bonds / bond sale - commissioner of transportation - commissioner of management and budget - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution article XI sections 4 to 7 - capital investment - Beltline Corridor project - bond issuance