SF4490

Purpose

The bill would authorize state funding to help build a new public library in the city of Caledonia. It does this by appropriating money and authorizing the sale of state bonds to cover the project costs.

Main Provisions

• Subdivision 1 – Appropriation:
  • The state would set aside $1,875,000 from the bond proceeds fund.
  • This money would go to the commissioner of education as a grant to the City of Caledonia.
  • The grant is for predesign, design, construction, furnishing, and equipping a new public library in Caledonia.
• Subdivision 2 – Bond Sale:
  • The commissioner of management and budget would issue and sell state bonds up to $1,875,000 to finance the appropriation.
  • Bond issuance would follow the specified procedures under Minnesota law and the state constitution.

Legal Authority and Compliance

• The bond funding and project would be conducted under Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution, Article XI sections 4 to 7.
• The project involves a grant from the education department to the City of Caledonia for the library construction.

Impact and What It Seeks to Accomplish

• Creates funding for the Caledonia public library project, enabling local development of library facilities through a state grant.
• Uses state debt (bonds) to finance the project, with the local city receiving funds via a grant administered by the commissioner of education.

Significant Changes to Existing Law

• Establishes a new appropriation and debt-issuance authorization specifically for a Caledonia public library project.
• Does not appear to alter other programs but adds a new capital investment and bond-financing pathway for this local project, governed by existing bond and constitutional provisions.

Summary of Financial Details

• Amount: $1,875,000
• Source: bond proceeds fund
• Recipient: City of Caledonia (via grant from the commissioner of education)

Oversight and Process

• Bonds would be sold and issued under the standard state bond procedures.
• The project must comply with the referenced statutes and constitutional provisions.

Relevant Terms - bond proceeds fund - grant - City of Caledonia - predesign - design - construct - furnish - equip - new public library - capital investment - appropriation - state bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7 - commissioner of education - commissioner of management and budget - Caledonia