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HF603 (Legislative Session 94 (2025-2026))

Kennedy; underground water storage tank funding provided, bonds issued, and money appropriated.

Related bill: SF1377

AI Generated Summary

Purpose

  • The bill aims to fund a local water infrastructure project in Kennedy by providing a capital investment appropriation and authorizing the sale of state bonds. Specifically, it supports replacing underground water storage tanks in the city of Kennedy through a grant administered by the Public Facilities Authority.

Main Provisions

  • Subdivision 1 – Appropriation

    • An amount of 734,000 is appropriated from the bond proceeds fund to the Public Facilities Authority.
    • The funds are to be used as a grant to the city of Kennedy to predesign, design, engineer, and construct the replacement of the underground water storage tanks in Kennedy.

  • Subdivision 2 – Bond Sale

    • To provide the money appropriated, the commissioner of management and budget must sell and issue state bonds up to 734,000.
    • The bond sale must follow the terms and effects prescribed by Minnesota Statutes sections 16A.631 to 16A.675 and by the Minnesota Constitution article XI sections 4 to 7.

Funding Mechanism and Oversight

  • The money comes from the bond proceeds fund.
  • The Public Facilities Authority administers the grant to Kennedy for the project.
  • The bond sale must comply with state statutes and the state constitution.

Significant Changes to Existing Law

  • This bill creates a new appropriation specifically for Kennedy’s underground water storage tanks project and authorizes the sale of state bonds up to 734,000 to fund it. It ties the funding to established bonding procedures and constitutional provisions, but does not otherwise alter these statutes; it triggers existing processes for bond issuance and funding commitments.

Practical Impact

  • Kennedy will receive a grant to cover planning and construction work for replacing its underground water storage tanks.
  • The state will issue bonds to finance this project, spreading the cost over time as allowed by law.

Key Details to Note

  • Project: replacement of underground water storage tanks in Kennedy
  • Recipient: City of Kennedy (via grant from Public Facilities Authority)
  • Amount: 734,000
  • Source: bond proceeds fund
  • Bonding framework: Minnesota Statutes 16A.631 to 16A.675; Minnesota Constitution Article XI, sections 4–7

Relevant Terms - underground water storage tanks - city of Kennedy - Public Facilities Authority - grant - predesign, design, engineer, construct - replacement - bond proceeds fund - bonds / sale and issuance of state bonds - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 13, 2025HouseActionIntroduction and first reading, referred toCapital Investment

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill provides for the sale of state bonds up to $734,000 in a manner prescribed by Minnesota Statutes sections 16A.631 to 16A.675 to fund the Kennedy water storage tanks project, using existing bond issuance procedures.",
      "modified": []
    },
    "citation": "16A.631 to 16A.675",
    "subdivision": "Subd. 2"
  }
]

Progress through the legislative process

17%
In Committee

Sponsors

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