SF3485

Purpose of the Bill

The purpose of this bill is to provide financial support for the renovation of the Hayden Heights Library located in the city of St. Paul, Minnesota. It aims to allocate funds specifically for the design, construction, furnishing, and equipping necessary for the library's renovation.

Main Provisions

• Appropriation of Funds: The bill proposes the appropriation of $4,000,000 from the bond proceeds fund. This money is designated for a grant to the city of St. Paul. The grant is managed by the commissioner of employment and economic development.

• Bond Sale Authorization: To raise the $4,000,000 specified for the library renovation, the bill authorizes the sale and issuance of state bonds. This task is assigned to the commissioner of management and budget, who will follow the procedures and conditions outlined in specific Minnesota statutes and the state constitution.

Significant Changes to Existing Law

• The bill introduces a specific financial measure, i.e., the issuance of state bonds, to fund a city infrastructure project. This represents a legislative effort to invest in local community resources through state-sponsored capital investment.

Relevant Terms

capital investment, bond proceeds fund, state bonds, Hayden Heights Library, renovation, St. Paul, appropriation, commissioner of management and budget, commissioner of employment and economic development.