HF865

Purpose

• This bill provides funding for a water infrastructure project in Rock County by appropriating money and arranging the financing through state bonds.

Main Provisions

• Subdivision 1 – Appropriation:
  • $1,000,000 is appropriated from the bond proceeds fund to the Public Facilities Authority (PFA).
  • The funds are for a grant to Rock County Rural Water to design, construct, and equip a water tower on the west side of the county’s water system.
• Subdivision 2 – Bond Sale:
  • The commissioner of management and budget must sell and issue state bonds up to $1,000,000 to finance the appropriation.
  • Bond issuance must follow Minnesota law (statutes 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Funding Source and Process

• The money comes from the bond proceeds fund.
• The sale and issuance of bonds are to be carried out under the specified statutory and constitutional procedures.

Entities Involved

• Public Facilities Authority (PFA) – recipient of the grant.
• Rock County Rural Water – project sponsor and beneficiary of the grant.
• Commissioner of Management and Budget – responsible for issuing the bonds.

Project Details and Impact

• Project scope: design, construction, and equipping of a water tower to support the Rock County Rural Water system.
• Impact: improves local water infrastructure and capacity by adding a new water tower.

Relationship to Existing Law

• Uses existing bond financing processes and compliance requirements (Minneapolis Statutes 16A.631-16A.675 and Article XI, sections 4-7 of the Minnesota Constitution) for funding and bond issuance.

Significant Changes

• Establishes a new state-backed funding mechanism (a $1,000,000 bond issuance) to support a specific local water infrastructure project.
• Creates an obligation for state bonds to be issued to fund the grant, tied to the Public Facilities Authority and Rock County Rural Water.

Summary of What the Bill Seeks to Accomplish

• Provide dedicated funding for a water tower project in Rock County.
• Use state bond financing to support essential local water infrastructure through a grant administered by the Public Facilities Authority.

Relevant Terms - appropriation - bond proceeds fund - Public Facilities Authority - Rock County Rural Water - water tower - design, construct, and equip - grant - bond sale / bonds - Commissioner of Management and Budget - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7 - capital investment - rock county / water system