Purpose

This bill provides state funding to improve the city of Revere’s storm sewer infrastructure and streets by authorizing a grant and the sale of state bonds.

Main Provisions

• Subd.1 Appropriation: 3,600,000 is appropriated from the bond proceeds fund to the Public Facilities Authority for a grant to the city of Revere. The grant is for designing, constructing, and equipping the replacement of aging and failing municipal infrastructure, and it specifically includes storm sewer system infrastructure and the reconstruction of city streets.
• Subd.2 Bond sale: To fund the appropriation, the commissioner of management and budget must sell and issue state bonds up to 3,600,000. The bond sale must follow the terms and effects set by Minnesota Statutes sections 16A.631 to 16A.675 and by the Minnesota Constitution, Article XI, sections 4 to 7.

Effects and Implications

• The bill uses state debt financing (bonds) to support local infrastructure upgrades in Revere.
• It directs a specific amount ($3.6 million) to modernize aging infrastructure and improve streets, via a grant to the city funded through bond proceeds.
• It relies on existing debt-management statutes and constitutional authority for bond issuance rather than creating new funding mechanisms.

Changes to Existing Law

• Creates a new appropriation of 3.6 million from the bond proceeds fund for Revere infrastructure improvements.
• Grants state authority to issue bonds up to 3.6 million to finance this appropriation, under current statutory and constitutional bond provisions (Minnesota Statutes 16A.631–16A.675 and Minnesota Constitution Article XI, sections 4–7).

Key Terms and Phrases (from the bill and impact)

• bond proceeds fund
• Public Facilities Authority
• grant
• city of Revere
• design, construct, and equip
• replacement of aging and failing municipal infrastructure
• storm sewer system infrastructure
• reconstruction of city streets
• sale and issue bonds
• Minnesota Statutes sections 16A.631 to 16A.675
• Minnesota Constitution Article XI sections 4 to 7
• capital investment

Relevant Terms - bond proceeds fund - Public Facilities Authority - grant to the city of Revere - storm sewer system infrastructure - reconstruction of city streets - design, construct, and equip - aging and failing municipal infrastructure - bonds (state debt financing)