The bill appropriates $10,000,000 from the bond proceeds account in the trunk highway fund to the Minnesota Commissioner of Transportation for the final design and right-of-way acquisition for an interchange project at East River Road and marked Trunk Highway 610 in Coon Rapids, Anoka County. This funding is specifically designated for the portion of the project eligible for trunk highway bond proceeds, and any remaining funds after the completion of these tasks may be utilized for the actual construction of the interchange, following written notice to the commissioner of management and budget.
Additionally, the bill authorizes the Commissioner of Management and Budget to sell and issue state bonds up to the amount of $10,000,000 to finance the appropriation. The bonds will be sold in accordance with Minnesota Statutes and the Minnesota Constitution, with the proceeds, excluding accrued interest and any premiums, deposited into the bond proceeds account in the trunk highway fund.