This bill appropriates $4,000,000 from the bond proceeds fund to the commissioner of transportation for a grant to the city of North Branch. The funds are designated for predesign, design, and right-of-way acquisition necessary to construct an interchange at Interstate Highway 35 and 400th Street. The appropriation will be available once the commissioner of management and budget confirms that sufficient resources from nonstate sources have been committed to complete the project.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $4,000,000 to provide the necessary funding. The bond sale will be conducted in accordance with Minnesota Statutes and the Minnesota Constitution. The provisions of this bill will take effect the day after it is enacted.