SF3389

Purpose of the Bill

The bill aims to allocate funds for renovating Eagle Bend High School in Minnesota. It supports local infrastructure improvements by financing the school's refurbishment through state bonds.

Main Provisions

• Funding Allocation: The bill proposes an appropriation of $1,500,000 from the bond proceeds fund. This fund is managed by the state's commissioner of employment and economic development, and the money is intended as a grant to the city of Eagle Bend.
• Bond Issuance: It authorizes the sale and issuance of state bonds up to the amount of $1,500,000. This is to ensure the availability of funds for the renovation project. The bond sale will be conducted following specific Minnesota Statutes and the state Constitution.

Significant Changes to Existing Law

• Additional Appropriation: This bill supplements a previous appropriation from laws enacted in prior sessions (2017 and 2021), enhancing the funding authorized for the renovation project.

Relevant Terms

• Bond proceeds fund
• Commissioner of employment and economic development
• State bonds
• Capital investment
• Grant to the city of Eagle Bend
• Renovation project