SF470 (Legislative Session 94 (2025-2026))
City of Kennedy underground water storage tanks bond issuance and appropriation
AI Generated Summary
Purpose
- Provide funding for replacing underground water storage tanks in the city of Kennedy. The money supports a grant to Kennedy, administered through the Public Facilities Authority, to cover predesign, design, engineering, and construction of the replacement tanks.
Main Provisions
- Subdivision 1 – Appropriation: An amount of 500,000 dollars is appropriated from the bond proceeds fund to the Public Facilities Authority. The Authority will grant this money to the city of Kennedy to predesign, design, engineer, and construct the replacement of underground water storage tanks in Kennedy.
- Subdivision 2 – Bond Sale: The commissioner of management and budget must sell and issue state bonds of up to 500,000 dollars to fund the appropriation. The bond sale will follow the terms and effects set out in Minnesota law (statutes 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).
Financial Implications
- This bill authorizes state debt of up to 500,000 dollars to fund the Kennedy water storage tank project.
- The funding comes from the bond proceeds fund, and the money will be disbursed as a grant to Kennedy via the Public Facilities Authority for the specified engineering and construction work.
Process & Legal Authority
- The project uses established bond financing procedures under Minnesota Statutes (16A.631–16A.675) and constitutional provisions (Article XI, sections 4–7).
- The Commissioner of Management and Budget is responsible for selling and issuing the bonds.
Significance
- Adds targeted state support for local water infrastructure by funding the replacement of underground water storage tanks in Kennedy.
- Leverages the Public Facilities Authority to administer the grant and manage the project components (predesign, design, engineering, construction).
Notable Terms From the Bill
- underground water storage tanks
- city of Kennedy
- Public Facilities Authority
- grant
- appropriation
- bond proceeds fund
- predesign
- design
- engineer
- construct
- replacement
- sale and issuance of bonds
- Minnesota Statutes sections 16A.631 to 16A.675
- Minnesota Constitution Article XI sections 4 to 7
Relevant Terms underground water storage tanks city of Kennedy Public Facilities Authority grant appropriation bond proceeds fund predesign design engineer construct replacement bond sale state bonds Minnesota Statutes 16A.631-16A.675 Minnesota Constitution Article XI 4-7
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| January 21, 2025 | Senate | Action | Introduction and first reading | ||
| January 21, 2025 | Senate | Action | Referred to | Capital Investment |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill references Minnesota Statutes sections 16A.631 to 16A.675 governing state bond issuance and sale, in connection with authorizing the sale and issuance of state bonds for Kennedy water storage tanks.",
"modified": []
},
"citation": "16A.631 to 16A.675",
"subdivision": ""
}
]Progress through the legislative process
In Committee