The bill proposed by Representative Davis involves allocating funds for the reconstruction and improvement of 1st Street North in Crosby, Minnesota. This project includes updating the street itself along with enhancing sidewalks, curbs, gutters, the storm sewer system, and making the area accessible according to the Americans with Disabilities Act (ADA) standards. To finance these improvements, the bill authorizes the state to sell up to $1,797,000 in bonds. These bonds will be managed by the state's commissioner of management and budget, adhering to specific legal guidelines and constitutional provisions.