HF5076

Purpose

This bill would authorize financing and funding for safety improvements on marked Trunk Highway 41 in the city of Chanhassen. It aims to improve safety on the highway segment between Trunk Highway 7 and Trunk Highway 5 by funding predesign, design, engineering, environmental analysis and mitigation, and construction, including roundabouts. The money would also cover land acquisition and easements. The funds are available as a grant to the city of Chanhassen.

Key Provisions

• Appropriation: An amount of 3,500,000 is appropriated from the bond proceeds account in the trunk highway fund to the commissioner of transportation. The funds cover predesign, design, engineering, environmental analysis and mitigation, land acquisition including easements, and construction of safety improvements (including roundabouts) on marked Trunk Highway 41 from marked Trunk Highway 7 to marked Trunk Highway 5 in Chanhassen.
• Availability as a grant: The appropriation is available as a grant to the city of Chanhassen.
• Bond financing: To provide the money, the commissioner of management and budget shall sell and issue state bonds up to 3,500,000, under the terms of Minnesota statutes 167.50 to 167.52 and Article XIV, Section 11 of the Minnesota Constitution, at times and in amounts requested by the commissioner of transportation.
• Bond proceeds use: The proceeds of the bonds, excluding accrued interest and any premium, must be deposited into the bond proceeds account in the trunk highway fund.

Financial and Legal Details

• Source: Bond proceeds account in the trunk highway fund.
• Compliance: Bond issuance and use must follow Minnesota Statutes 167.50 to 167.52 and Article XIV, Section 11 of the Minnesota Constitution.

Project Area

• Location: Marked Trunk Highway 41 between Marked Trunk Highway 7 and Marked Trunk Highway 5, in the city of Chanhassen.

Effects on Law and Policy

• Creates a targeted financing mechanism (state bonds) to fund local highway safety improvements.
• Allocates state bond funding specifically for a transportation project and sets up the process for bonds to be issued and repaid from the trunk highway fund.

Implementation Timeline (General)

• The bill outlines funding and bonding actions but does not specify a detailed timetable beyond the usual bond issuance process; implementation would proceed as funds become available and bonds are issued per the statutory framework.

Relevant to this proposal is the collaboration between the state transportation department and the city of Chanhassen to complete safety improvements, including roundabouts, on a defined segment of a trunk highway.

Relevant Terms - appropriation - bond proceeds account - trunk highway fund - predesign - design - engineering - environmental analysis - mitigation - land acquisition - easements - safety improvements - roundabouts - marked Trunk Highway 41 - Trunk Highway 7 - Trunk Highway 5 - city of Chanhassen - grant - bonds / bond sale - Minnesota Statutes 167.50 to 167.52 - Minnesota Constitution Article XIV, Section 11 - proceeds (excluding accrued interest and any premium)