HF730

Purpose

• The bill provides a capital investment appropriation to support a water infrastructure project in Blue Earth. Specifically, it would allocate funds to help build a reverse osmosis water filtration plant.

Main Provisions

• Subdivision 1 – Appropriation:
  • Amount: 7,000,000 dollars from the bond proceeds fund.
  • Recipient: The Public Facilities Authority (PFA).
  • Use: A grant to the city of Blue Earth to construct a reverse osmosis water filtration plant.
• Subdivision 2 – Bond Sale:
  • The money appropriated will be financed by selling and issuing state bonds.
  • Bond amount: Up to 7,000,000 dollars.
  • Process: Bonds will be sold and issued in the manner prescribed by Minnesota statutes (16A.631 to 16A.675) and by the Minnesota Constitution (Article XI, sections 4 to 7).

Funding and Financing Details

• Source of funds: Bond proceeds fund.
• Financing mechanism: State bonds funded through the bond proceeds program.
• Oversight: Bond sale and issuance must follow the referenced statutes and constitutional provisions.

Project Details and Beneficiary

• Project: Construction of a reverse osmosis water filtration plant.
• Beneficiary: City of Blue Earth, via a grant administered by the Public Facilities Authority.

Significance and Changes to Law

• This bill creates a new capital investment appropriation and authorizes the sale of bonds to fund a specific water infrastructure project.
• It does not alter existing law beyond establishing the appropriation and the bond financing for this project.

Relevant Terms

• bond proceeds fund
• Public Facilities Authority (PFA)
• grant
• city of Blue Earth
• reverse osmosis water filtration plant
• capital investment
• bond sale / issuing bonds
• Minnesota Statutes 16A.631 to 16A.675
• Minnesota Constitution Article XI (sections 4 to 7)

Relevant Terms - bond proceeds fund - Public Facilities Authority - grant - Blue Earth - reverse osmosis - water filtration plant - capital investment - bond sale - Minnesota Statutes 16A.631-16A.675 - Minnesota Constitution Article XI, sections 4-7