SF4391

Purpose

Authorizes a capital investment to fund a maintenance facility in the city of Medford. Specifically, it adds an appropriation of 350,000 from the bond proceeds fund to support a grant to the city of Medford for predesign, design, construction, furnishing, and equipping a maintenance facility. It also authorizes the sale and issuance of state bonds up to 350,000 to fund this appropriation.

Key Provisions

• Subdivision 1 (Appropriation): Transfers 350,000 from the bond proceeds fund to the commissioner of Employment and Economic Development (DEED) to provide a grant to the city of Medford for the predesign, design, construction, furnishing, and equipping of a maintenance facility in Medford.
• Subdivision 2 (Bond Sale): Directs the commissioner of Management and Budget to issue and sell bonds of the state up to 350,000 to fund the appropriation, under the terms of Minnesota’s bonding statutes and the state constitution.

Funding and Bond Issuance

• Source of funds: Bond proceeds fund.
• Amount: 350,000.
• Recipient: City of Medford (via a grant administered by DEED).
• Financing mechanism: Issuance of state bonds up to 350,000 by the commissioner of management and budget.

Administration and Oversight

• Grant administration: DEED receives the appropriation to grant to Medford for the facility project.
• Bond issuance oversight: The bond sale must follow Minnesota Statutes sections 16A.631 to 16A.675 and Constitution Article XI sections 4 to 7.

Effects and Implications

• Creates financial support for a municipal facility project in Medford through a state grant funded by bonds.
• Uses existing bonding and grant mechanisms; does not introduce new programs outside the approved capital investment framework.
• The bill implements a one-time capital funding action rather than a recurring program.

Significant Changes to Existing Law

• Establishes a new appropriation and bond authorization for a Medford maintenance facility. It relies on existing statutes and constitutional provisions for bond sale but adds a new capital project funded by bonds and a state grant to a city.

Public Interest Considerations

• Aimed at enabling facility improvements that could support local maintenance operations and related economic activity in Medford.

Relevant Terms - bond proceeds fund - appropriation - grant - city of Medford - maintenance facility - predesign - design - construct - furnish - equip - DEED (Department of Employment and Economic Development) - commissioner of management and budget - bonds - sale and issue - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution article XI sections 4 to 7