HF241

Purpose

This bill would allocate money for upgrades to Floodwood’s water and sewer systems and authorize the state to sell bonds to pay for these improvements.

Main Provisions

• Subdivision 1 — Appropriation:

  • Authorizes a grant of up to 2,000,000 from the bond proceeds fund to the Public Facilities Authority.
  • The grant is to be given to the city of Floodwood to design and build capital improvements to its water and sewer infrastructure along Floodwood Road (County Road 832).
  • Improvements include replacing and expanding water and sewer mains and related street work to support business and residential development.

• Subdivision 2 — Bond sale:

  • directs the commissioner of management and budget to issue state bonds totaling up to 2,000,000 to fund the appropriation.
  • bonds would be sold under the terms of Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Project Location and Scope

• Location: along Floodwood Road (County Road 832) in the city of Floodwood.
• Scope: design and construction of water and sewer system upgrades, replacement and expansion of mains, and associated street improvements to facilitate local development.

Financing and Legal Framework

• Funding Source: bond proceeds fund.
• Bonding Requirements: issuance and sale of bonds in accordance with specified Minnesota statutes and constitutional provisions.

Expected Outcomes

• Improved water and sewer infrastructure serving Floodwood.
• Enhanced capacity for business and residential development along Floodwood Road.
• Modernized streets associated with the utility improvements.

Significance and Potential Impacts

• Supports capital investments in public utilities.
• Potential long-term economic development benefits for Floodwood and surrounding areas.

Relevant Terms: Floodwood, Floodwood Road, County Road 832, water infrastructure, sewer infrastructure, capital improvements, design and construct, replacement, expansion, water mains, sewer mains, street improvements, business development, residential development, grant, Public Facilities Authority, bond proceeds fund, bond sale, state bonds, Minnesota Statutes 16A.631 to 16A.675, Minnesota Constitution Article XI.