Purpose

This bill aims to fund a concrete transportation project in Lakeville, Minnesota. It would provide money and authority to issue state bonds to support building and improving bridges and interchanges on Interstate 35 where it meets Dakota County State Aid Highway 50 (CSAH 50), including related work in Lakeville.

Main Provisions

• Appropriation: The bill would appropriate $40,800,000 from the bond proceeds account in the trunk highway fund to the Minnesota Department of Transportation (DOT). The funds are for environmental analysis, predesign, design engineering, acquisition of right-of-way and temporary and permanent easements, and construction of bridges and interchanges on Interstate 35 at CSAH 50 in Lakeville. The project includes two bridges over CSAH 50.
• Eligible use: The appropriation covers the portion of the project that is eligible to use trunk highway bond proceeds within the DOT’s right-of-way.
• Bond sale: The Commissioner of Management and Budget would issue state bonds up to $40,800,000 to finance the appropriation. The bond issuance would follow Minnesota statutes 167.50 to 167.52 and Article XIV, Section 11 of the Minnesota Constitution, at times and in amounts requested by the DOT.
• Bond proceeds deposit: The bond proceeds, excluding accrued interest and any premium from bond sales, must be deposited into the bond proceeds account in the trunk highway fund.

Significant Changes to Existing Law

• Establishes a new, specific appropriation and authorization to issue bonds for the I-35 bridges and interchanges project at Lakeville, funded through the trunk highway bond proceeds account.
• Mandates that bond proceeds be used for a defined sequence of work (environmental analysis through construction) and related right-of-way acquisitions, tying the project to existing trunk highway financing rules.
• Integrates this project into Minnesota’s bond-issuance framework (statutes and constitutional provisions) and designates a dedicated funding stream within the trunk highway fund for this work.

Relevant sections and terms from the bill are reflected in the terms above, including the project location (Lakeville, Dakota County, I-35, CSAH 50) and the funding mechanism (bond proceeds account, trunk highway fund, bond sale, $40,800,000).

Relevant Terms - Interstate 35 (I-35) - Lakeville - Dakota County - CSAH 50 (Dakota County State Aid Highway 50) - Two bridges over CSAH 50 - Environment analysis - Predesign and design engineering - Acquisition of right-of-way - Temporary and permanent easements - Bridges and interchanges - Bond proceeds account - Trunk Highway Fund - Bond sale / state bonds - Minnesota Statutes 167.50 to 167.52 - Minnesota Constitution Article XIV Section 11 - $40,800,000 ( forty million eight hundred thousand dollars )