H.F. 4383 Summary

• $1,845,000 appropriated from bond proceeds in the state transportation fund to the commissioner of transportation for a grant to the city of Mankato for reconstruction of marked Trunk Highway 169 north of the Highway 14 interchange to accommodate raising of a levee

• Appropriation covers local shares that the cities of Mankato and North Mankato are responsible for under the state's Cost Participation and Maintenance with Local Units of Government Manual or any state-city contract

• Funds are available only after the commissioner of management and budget determines sufficient resources have been committed to complete the project, as required by Minnesota Statutes section 16A.502

• Commissioner of management and budget authorized to sell and issue state bonds up to $1,845,000 per Minnesota Statutes sections 167.50 to 167.52 and Minnesota Constitution article XIV, section 11

• Bond proceeds (except accrued interest and premiums) must be deposited in the bond proceeds account in the trunk highway fund; effective the day following final enactment