SF919

Purpose

Approve funding and authorize state debt to extend the Hardwood Creek Regional Trail in Hugo, by providing a grant to Washington County funded through state bonds and managed by the Metropolitan Council.

Main Provisions

• Subd.1 Appropriation: $1,000,000 is appropriated from the bond proceeds fund to the Metropolitan Council for a grant to Washington County. This money is for the acquisition, design, and construction of the Hardwood Creek Regional Trail extension within the city of Hugo.
• Subd.2 Bond Sale: The commissioner of management and budget must sell and issue bonds of the state up to $1,000,000 to finance the appropriation. This bond sale will follow the terms prescribed by Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Financial Effects

• Funding source: bond proceeds fund.
• Purpose: to provide a grant to Washington County for the trail project, via the Metropolitan Council.
• Debt issuance: up to $1,000,000 in state bonds.

Implementation Details

• The Metropolitan Council is the recipient of the appropriation and will administer the grant to Washington County for the trail project.
• The project focus is the acquisition of land, and the design and construction of the Hardwood Creek Regional Trail extension in Hugo.

Significance and Changes to Existing Law

• Establishes a new capital investment funding and debt authority specifically for this trail project.
• Uses existing bonding processes and legal authorities (statutes and constitutional provisions) to issue the bonds and fund the grant.

Beneficiaries and Scope

• Beneficiary: Washington County.
• Project location: Hardwood Creek Regional Trail extension within the city of Hugo, Washington County.

Relevant Terms - Hardwood Creek Regional Trail - Washington County - City of Hugo - grant - acquisition - design - construction - Metropolitan Council - bond proceeds fund - bonds - bond sale / issuance - up to $1,000,000 - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI (sections 4 to 7) - capital investment - trail project