HF4302

Purpose

• The bill authorizes a state investment to support local water infrastructure by providing funding for a new water tower in the city of Easton.

Main Provisions

• Subdivision 1. Appropriation: It appropriates 1,500,000 from the bond proceeds fund to the Public Facilities Authority to grant the city of Easton for designing and constructing a new water tower.
• Subdivision 2. Bond sale: It directs the commissioner of management and budget to sell and issue bonds of the state in an amount up to 1,500,000 to finance the appropriation. This bond sale must follow the terms and effects prescribed by Minnesota Statutes sections 16A.631 to 16A.675 and by the Minnesota Constitution article XI sections 4 to 7.

What the Bill Seeks to Accomplish

• Provide dedicated funding from state bond proceeds to support Easton’s water infrastructure project (design and construction of a new water tower) via a grant to the city.

Financial Implications

• Creates a state debt obligation (bond issue) of up to 1,500,000 to fund the grant.
• Uses the bond proceeds fund as the source of the appropriation.

Oversight and Legal Authorities

• The bond issuance must comply with specified Minnesota statutes (16A.631 to 16A.675) and the state constitution (Article XI, sections 4 to 7).

Significant Changes to Existing Law

• Establishes a new appropriation and debt authority specifically for Easton’s water tower project through the Public Facilities Authority, financed by bonds. (No broader tax or policy changes stated.)

Relevant Terms

• bond proceeds fund, Public Facilities Authority, grant, city of Easton, design and construct, new water tower, bond sale, commissioner of management and budget, Minnesota Statutes sections 16A.631 to 16A.675, Minnesota Constitution article XI sections 4 to 7, Easton.

Relevant Terms - bond proceeds fund - Public Facilities Authority - grant - city of Easton - design and construct - new water tower - bond sale - commissioner of management and budget - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7