HF4427

Purpose

• Translate the bill into a capital investment action: to fund a new public library in the City of Caledonia by providing money from the state’s bond proceeds fund and authorizing the sale of state bonds.

Main provisions

• Subdivision 1 – Appropriation: An amount of 1,875,000 is appropriated from the bond proceeds fund to the commissioner of education. This money is designated as a grant to the City of Caledonia to predesign, design, construct, furnish, and equip a new public library in Caledonia.
• Subdivision 2 – Bond sale: To finance the appropriation, the commissioner of management and budget must sell and issue state bonds up to 1,875,000. The bond issuance must follow the terms and effects of Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Significant changes to existing law

• Creates a new capital investment funding action by allocating a specific amount for a public library project in Caledonia.
• Establishes a mandate for issuing/state bonds to finance the appropriation, aligning with existing bond and constitutional procedures. No other statutory amendments are shown in the text provided.

What this bill aims to accomplish

• Provide funding to plan and build a new public library in Caledonia, along with furnishings and equipment, to improve local library services and facilities.

Relevant authorities cited

• Commitment to use the bond proceeds fund
• Roles of the commissioner of education (grant recipient administrator) and the commissioner of management and budget (bond issuance)

Relevant Terms

• appropriation
• bond proceeds fund
• grant
• City of Caledonia
• public library
• predesign
• design
• construct
• furnish
• equip
• new public library
• capital investment
• bonds
• sale and issue
• Minnesota Statutes 16A.631 to 16A.675
• Minnesota Constitution Article XI sections 4 to 7