HF2788

Purpose of the Bill

The main purpose of this bill is to provide financial support for stormwater pond improvements in the city of Loretto, Minnesota. This initiative aims to enhance water quality within the local stormwater ponds.

Main Provisions

• Appropriation of Funds: The bill proposes an allocation of $500,000 from the bond proceeds fund. This money will be granted to the city of Loretto specifically for capital improvements related to its stormwater ponds.

• Scope of Improvements: The funding will cover several aspects of stormwater management. These include predesign and design engineering, as well as activities such as dredging and the removal and disposal of sediment from the stormwater ponds. These actions are intended to improve water quality.

Significant Changes to Existing Law

• Issuance of State Bonds: The bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $500,000. This enables the financing of the outlined improvements and follows the procedures in Minnesota Statutes sections 16A.631 to 16A.675, along with guidelines from the Minnesota Constitution.

Relevant Terms

• Capital investment
• Stormwater pond improvements
• Water quality
• State bonds
• City of Loretto
• Sediment removal
• Bond proceeds fund