SF5213

Purpose

• To adjust capital investment funding for the City of Osseo by canceling a prior appropriation for a grant related to the Osseo Lift Station and reducing the related bond authority. The bill maintains the general framework of authorizing state bonds for capital projects but cancels a specific previously allotted amount.

Main Provisions

• Section 1: CANCELLATION OSSEO LIFT STATION.
  • Cancels the unexpended unencumbered amount of the general obligation bond proceeds that were appropriated in Laws 2023, chapter 72, article 1, section 23, subdivision 20, on the section’s effective date.
  • Reduces the corresponding bond sale authorization by the same amount.

What the bill changes about existing law

• Cancels a specific prior appropriation for the City of Osseo related to the Osseo Lift Station project.
• Decreases the amount of bond authority (bond sale authorization) tied to that canceled appropriation.
• Does not create new funding; it removes or re-scales existing authorized funding for that project.

Implications

• The Osseo Lift Station funding from the 2023 appropriation would no longer be available, potentially affecting project timelines or scope unless alternative funding is found.
• The state’s authorized debt for this project is reduced accordingly.

Timing

• The cancellations take effect on the effective date of the section.

Key terms carried from the bill

• capital investment, appropriation, unexpended unencumbered amount, general obligation bond proceeds, bond sale authorization, Laws 2023 chapter 72, Osseo Lift Station, City of Osseo, grant cancellation, effective date.

Relevant Terms - capital investment - appropriation - unexpended unencumbered amount - general obligation bond proceeds - bond sale authorization - Laws 2023 chapter 72 - Osseo Lift Station - City of Osseo - grant cancellation - effective date