SF4855

Purpose

• The bill provides funding to support the St. Cloud 5th Avenue South Campus and Downtown Connection project. It uses bond proceeds to fund a grant to the city of St. Cloud for public infrastructure improvements related to the project.

Main Provisions

• Subd.1 Appropriation: $3,400,000 is appropriated from the bond proceeds fund to the commissioner of employment and economic development. This money is for a grant to the city of St. Cloud to acquire right-of-way and to design, engineer, construct, furnish, and equip public infrastructure improvements for the 5th Avenue South Campus and Downtown Connection project.
• Subd.2 Bond Sale: The money appropriated in this section will be provided by selling and issuing state bonds in an amount up to $3,400,000. The bond sale must follow the terms and effects set out in Minnesota statutes (16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Significance and Changes to Law

• This bill authorizes a new bond-backed appropriation for a specific St. Cloud infrastructure project. It does not propose broad statutory changes beyond enabling the appropriation and the associated bond sale.

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Relevant Terms - bond proceeds fund - grant - city of St. Cloud - right-of-way - design, engineer, construct, furnish, and equip - public infrastructure improvements - 5th Avenue South Campus and Downtown Connection project - bond sale / bonds - Commissioner of Management and Budget - Commissioner of Employment and Economic Development - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution Article XI, sections 4 to 7