SF3268

Purpose of the Bill

The purpose of this bill is to improve infrastructure in the city of Taylors Falls, Minnesota, by providing funds for sanitary sewer system enhancements. The bill seeks to support local infrastructure development through state financial assistance.

Main Provisions

• The bill appropriates $1,500,000 from the bond proceeds fund to the Public Facilities Authority.
• This funding is designated as a grant to the city of Taylors Falls.
• The grant will be used for the design, construction, and equipping of improvements to the city’s sanitary sewer system.

Funding Mechanism

• To provide the appropriated funds, the bill authorizes the sale and issuance of state bonds.
• The commissioner of management and budget is responsible for selling and issuing bonds up to the amount of $1,500,000.
• The sale and issuance of these bonds must comply with Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution article XI, sections 4 to 7.

Relevant Terms

• Capital Investment
• Sewer Improvements
• State Bonds
• Public Facilities Authority
• Infrastructure
• Bond Proceeds Fund