MN SF2828

Appropriates $50,000,000 from the bond proceeds account 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 (Minnesota Statutes, section 174.52)

Authorizes the commissioner of management and budget to sell and issue state bonds up to $50,000,000 to fund the appropriation, following procedures in Minnesota Statutes sections 167.50-167.52 and Minnesota Constitution article XIV, section 11

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

Effective the day following final enactment