Purpose

This bill aims to fund a transportation project in the city of Dayton by investing in a roundabout at the intersection of Pineview Lane and County Road 12. It authorizes money for property acquisition, planning, design, and construction, helping Dayton improve that intersection.

Main provisions

• Subdivision 1 — Appropriation: $1,500,000 is appropriated from the bond proceeds fund to the commissioner of transportation. The money is designated as a grant to the city of Dayton to acquire real property or interests in real property, and to predesign, design, and construct the roundabout and related improvements at the Pineview Lane and County Road 12 intersection.
• Subdivision 2 — Bond sale: To raise the funds, the commissioner of management and budget must sell and issue state bonds up to $1,500,000, under the terms and effects described by Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution, Article XI, sections 4 to 7.

Funding and financing

• The project is funded through the bond proceeds fund, using a debt issuance of up to $1.5 million.
• The State of Minnesota will issue bonds to finance this appropriation, with compliance required under specified statutes and constitutional provisions.

Implementation and oversight

• The Department of Transportation (via the grant to Dayton) will handle property acquisition, predesign, design, and construction.
• The financing and bond issuance are overseen by the Commissioner of Management and Budget, following the cited statutes and constitutional rules.

Significance and impact

• Creates a targeted capital investment for Dayton to improve traffic infrastructure at a specific intersection by building a roundabout and performing related improvements.
• Establishes a new funding mechanism (bond issuance) and a new appropriation dedicated to this project.

Notable changes to existing law

• Establishes a new appropriation from the bond proceeds fund for this project.
• Authorizes a bond sale up to $1.5 million to finance the appropriation, using the specified statutory and constitutional framework.

Relevant Terms - Dayton roundabout - Pineview Lane - County Road 12 - real property acquisition - predesign - design - construction - roundabout improvements - bond proceeds fund - grant to the city of Dayton - state bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI, sections 4 to 7 - capital investment appropriation - debt financing