SF5133

Purpose

• Allocate state funds to support water infrastructure in the city of Oakdale.
• Authorize the sale and issuance of state bonds to finance the project.

Main Provisions

• Subdivision 1 — Appropriation:
  • An amount of 10,900,000 is appropriated from the bond proceeds fund.
  • The money is appropriated to the Public Facilities Authority (PFA) as a grant to the city of Oakdale.
  • The grant funds predesign, design, construct, and equip the replacement of the municipal water main infrastructure.
  • The appropriation also covers street reconstruction and other improvements connected to the water project.
• Subdivision 2 — Bond Sale:
  • To fund the appropriation, the state will sell and issue bonds totaling up to 10,900,000.
  • Bond terms follow Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution article XI sections 4 to 7.

Significant Changes to Existing Law

• Creates a new capital investment appropriation specifically for Oakdale’s water infrastructure project.
• Directs bond proceeds to fund a grant from the Public Facilities Authority to Oakdale, enabling predesign through completion and equipment for the water main replacement, including related street work.
• Establishes the process and authority to issue state bonds up to the stated amount under the referenced statutes and constitutional provisions.

Relevant terms - bond proceeds fund - Public Facilities Authority (PFA) - grant to the city of Oakdale - water main infrastructure - predesign, design, construct, and equip - street reconstruction - capital investment - bond sale / sale and issuance of bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7