HF4486

Purpose

Provide capital investment funding to support a new air traffic control tower at the Mankato Regional Airport. The bill appropriates money and authorizes state bond issuance to fund the project.

Main Provisions

• Appropriation: An amount of $1,265,000 is appropriated from the bond proceeds fund to the commissioner of transportation. The funds are to be granted to the City of Mankato to design, construct, furnish, and equip an air traffic control tower facility at the Mankato Regional Airport.
• Bond Authorization: The commissioner of management and budget must sell and issue state bonds totaling up to $1,265,000 to fund the appropriation. Bond issuance 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.

Financial and Legal Details

• Funding Source: Bond proceeds fund.
• Use of Funds: A grant to the City of Mankato for design, construction, furnishing, and equipping an air traffic control tower at the Mankato Regional Airport.
• Legal Framework: Bond issuance and spending follow specified Minnesota statutes (16A.631–16A.675) and constitutional provisions (Minnesota Constitution, article XI, sections 4–7).

Changes to Existing Law

• Creates a new appropriation specifically for the Mankato air traffic control tower project.
• Adds authorization for state bond issuance to fund the appropriation, aligning with existing debt-issuance procedures under state law.

Implementation and Oversight

• Responsible Parties:
  • Minnesota Department of Transportation (for administering the grant to the City of Mankato).
  • Commissioner of Management and Budget (for issuing the bonds).
• Recipient: City of Mankato for the air traffic control tower project at the Mankato Regional Airport.

Relevant Terms air traffic control tower Mankato Regional Airport City of Mankato grant design construct furnish equip appropriation bond proceeds fund commissioner of transportation commissioner of management and budget bonds sale and issuance of bonds $1,265,000 (one million two hundred sixty-five thousand) Minnesota Statutes section 16A.631 to 16A.675 Minnesota Constitution article XI sections 4 to 7 capital investment state bonds