HF4796

Purpose

To provide funding for rehabilitating the Willard Munger state trail by appropriating money from the bond proceeds fund and authorizing the sale of state bonds.

Main Provisions

• Subdivision 1 — Appropriation:

  • $5,250,000 is appropriated from the bond proceeds fund to the commissioner of natural resources.
  • The funds are for designing and constructing improvements necessary for rehabilitation of the Willard Munger state trail system.
  • The project location is between the cities of Hinckley and Finlayson in Pine County.

• Subdivision 2 — Bond Sale:

  • The commissioner of management and budget must sell and issue state bonds to provide the appropriated funds.
  • The bond issuance can be up to $5,250,000.
  • The bonds are issued under Minnesota Statutes sections 16A.631 to 16A.675 and in accordance with Minnesota Constitution article XI, sections 4 to 7.

How it would work (financing)

• The project is funded through the bond proceeds fund and financed by issuing state bonds.
• The bond sale must follow the specified statutes and constitutional provisions.

Significant Changes to Existing Law

• Introduces a targeted capital appropriation for rehabilitation of the Willard Munger state trail.
• Establishes authority to issue up to $5,250,000 in state bonds to finance the rehabilitation project.
• Ties the financing to the usual bond issuance framework outlined in Minnesota Statutes 16A.631–16A.675 and Constitution Article XI, ensuring compliance with existing bond laws and rules.

Key Entities Involved

• Willard Munger state trail
• Commissioner of Natural Resources
• Commissioner of Management and Budget (MMB)
• Pine County (Hinckley and Finlayson)

Relevant Terms

Willard Munger state trail; rehabilitation; design and construction; appropriation; bond proceeds fund; commissioner of natural resources; commissioner of management and budget; bonds; bond sale; Hinckley; Finlayson; Pine County; Minnesota Statutes 16A.631 to 16A.675; Minnesota Constitution article XI sections 4 to 7

Relevant Terms Willard Munger state trail rehabilitation design and construction appropriation bond proceeds fund commissioner of natural resources commissioner of management and budget bonds bond sale Hinckley Finlayson Pine County Minnesota Statutes 16A.631 to 16A.675 Minnesota Constitution article XI sections 4 to 7