MN HF3263

Appropriates $50,000,000 from bond proceeds in the trunk highway fund to the commissioner of transportation for grants or loans to cities, towns, and counties under the local road improvement program.

Authorizes the commissioner of management and budget to sell and issue state bonds up to $50,000,000 to fund the appropriation.

Bond proceeds, excluding accrued interest and premiums, must be deposited in the bond proceeds account in the trunk highway fund.

Bond sale and issuance must follow Minnesota Statutes sections 167.50 to 167.52 and Minnesota Constitution article XIV, section 11.

Takes effect the day following final enactment.