The bill proposes an appropriation of $2,400,000 from the bond proceeds account in the trunk highway fund to the Minnesota Commissioner of Transportation for the purpose of conducting environmental analysis, predesign, and final design of a project aimed at replacing at-grade intersections and traffic signals with grade-separated interchanges along marked U.S. Highway 14 in the city of Byron. This project will specifically address intersections with Olmsted County State-Aid Highway 3 and Olmsted County State-Aid Highway 5. Any remaining funds after the completion of the initial phases may be used for acquiring right-of-way and constructing the necessary infrastructure for these interchanges.

Additionally, the bill authorizes the Commissioner of Management and Budget to sell and issue state bonds up to the amount of $2,400,000 to fund 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. This financial mechanism is intended to ensure that the necessary funds are available for the planned improvements to U.S. Highway 14.