HF4611

Purpose

• Allocate funding to build a pedestrian bridge in Oakdale to create a safe crossing over Interstate 694 at the intersection with 40th Street, improving connectivity to local and regional trails, parks, and places of work.

Main Provisions

• Subdivision 1 – Appropriation:
  • $4,500,000 is appropriated from the bond proceeds fund to the commissioner of transportation.
  • The money is for a grant to the City of Oakdale to design and construct the pedestrian bridge and related improvements over I-694 at the 40th Street intersection.
  • The project aims to provide a safe crossing and improve connectivity to trails, parks, and workplaces.
• Subdivision 2 – Bond Sale:
  • The commissioner of management and budget must sell and issue state bonds up to $4,500,000 to fund the appropriation.
  • Bond terms follow Minnesota statutes sections 16A.631 to 16A.675 and the Minnesota Constitution (Article XI, sections 4 to 7).

Funding and Financing

• Source of funds: bond proceeds fund.
• Financing method: sale and issuance of state bonds up to $4.5 million to support the grant for Oakdale’s pedestrian bridge project.
• Oversight: bonds and terms governed by specified Minnesota statutes and constitutional provisions.

Significant Changes to Existing Law

• Creates a new appropriation and bond authorization to finance the Oakdale pedestrian bridge project.
• Establishes a funding pathway (bond proceeds fund) and debt mechanism (state bonds) to support the project, adding a new capital investment endeavor for transportation infrastructure.

Key Terms and Concepts (for context)

• bond proceeds fund
• grant
• City of Oakdale
• pedestrian bridge
• Interstate Highway 694 (I-694)
• 40th Street (intersection)
• safe crossing
• connectivity
• local and regional trails
• parks
• access to places of work
• design and construction
• commissioner of transportation
• commissioner of management and budget
• sale and issuance of bonds
• Minnesota Statutes sections 16A.631 to 16A.675
• Minnesota Constitution Article XI sections 4 to 7

Relevant Terms bond proceeds fund, grant, Oakdale, pedestrian bridge, I-694, 40th Street, safe crossing, trails, parks, employment, design and construction, Department of Transportation, debt issuance, bond sale, 16A.631-16A.675, Constitution Article XI.