This 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, right-of-way acquisition, construction, and associated improvements for an interchange project at marked Trunk Highway 610 and East River Road in Coon Rapids. This funding is specifically designated for the portion of the project eligible for trunk highway bond proceeds and is in addition to previous appropriations made for the same project in prior legislative sessions.
Additionally, the bill authorizes the sale and issuance of state bonds up to $10,000,000 to provide the necessary funds for the project. The Commissioner of Management and Budget is tasked with selling and issuing these bonds in accordance with specified Minnesota statutes and constitutional provisions. The proceeds from the bond sale, excluding accrued interest and any premiums, will be deposited into the bond proceeds account in the trunk highway fund.