The bill proposes an appropriation of $5,000,000 from the bond proceeds account in the state transportation fund to the commissioner of transportation. This funding is designated for a grant to the city of Lake Elmo to facilitate the property acquisition and the predesign, design, construction, furnishing, and equipping of a new interchange at the intersection of marked Trunk Highway 36 and Lake Elmo Avenue in Washington County. This appropriation is intended to cover the city's share of the project, which is eligible for funding through general obligation bonds.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $5,000,000 to provide the necessary funds for the project. The bond issuance will be conducted in accordance with existing Minnesota statutes and constitutional provisions. The effective date of this section is set for the day following its final enactment.