SF5289

Purpose

This bill would use state bond financing to support a new water treatment facility in Rosemount. It appropriates $50,000,000 from the bond proceeds fund to the Public Facilities Authority to provide a grant to the city of Rosemount for predesign, design, construction, furnishing, and equipping the facility. It also authorizes the sale of state bonds to finance this appropriation.

Main Provisions

• Subdivision 1: Appropriation
  • An amount of $50,000,000 is appropriated from the bond proceeds fund to the Public Facilities Authority for a grant to the city of Rosemount. The grant is for predesign, design, construction, furnishing, and equipping a new water treatment facility.
• Subdivision 2: Bond sale
  • The money appropriated will be funded by the sale and issuance of state bonds in an amount up to $50,000,000. The bond sale must follow Minnesota statutes (sections 16A.631 to 16A.675) and the Minnesota Constitution (article XI, sections 4 to 7).

Significance and Changes to Law

• Establishes new capital investment financing for Rosemount’s water infrastructure.
• Introduces or formalizes a $50 million bond issuance to fund the project, with the Public Facilities Authority administering the grant to the city.
• Aligns the bond sale with existing state statutes and constitutional requirements.

Fiscal and Practical Implications

• Increases state debt by up to $50 million, with related debt service expectations in future budgets.
• Provides a funding mechanism for upfront costs (predesign, design, construction, furnishing, and equipping) for the water facility.

Beneficiaries and Stakeholders

• City of Rosemount (receives the grant for the water facility).
• Public Facilities Authority (administers the grant).
• Minnesota residents (potential beneficiaries through improved water infrastructure and service).

Notes

• The provided text does not specify an effective date or implementation timeline beyond the bond authorization and appropriation steps.

Relevant Terms bond proceeds fund Public Facilities Authority grant city of Rosemount water treatment facility predesign design construct furnish equip bond sale state bonds Minnesota Statutes 16A.631 to 16A.675 Minnesota Constitution article XI, sections 4 to 7