SF5078

Purpose

• This bill authorizes state funding to help build a new water tower in the city of Hanska. It uses state bonds to provide the money as a grant through a state agency.

Main Provisions

• Appropriation of funds: The bill appropriates 2,500,000 dollars from the bond proceeds fund to the Public Facilities Authority (PFA) to grant to the city of Hanska for the design and construction of a new water tower.
• Bonding authorization: The commissioner of management and budget must sell and issue state bonds up to 2,500,000 dollars to provide the money for the appropriation.
• Governing authority and process: Bond sales must be conducted in the manner and with the effects prescribed by Minnesota statutes 16A.631 to 16A.675 and by the Minnesota Constitution Article XI, sections 4 to 7.

Funding and Bonding Details

• Source of funds: Bond proceeds fund, used to finance the grant to Hanska.
• Recipient and purpose: Public Facilities Authority will provide a grant to the city of Hanska to design and construct a new water tower.
• Legal framework: Bond issuance and the related grant must follow the specified state statutes and constitutional provisions.

Administration and Legal Authority

• Administration: The Public Facilities Authority administers the grant to Hanska.
• Bond issuance: The plan to issue bonds is directed by the commissioner of management and budget, following existing state law and constitutional rules.

Notable Changes to Existing Law

• Creates a new capital investment project targeted at Hanska’s water infrastructure.
• Establishes a new bonding authorization of up to 2.5 million dollars to fund the grant.
• Directs use of the bond proceeds fund and specified oversight under Minnesota law for both appropriation and bond sale.

Implementation Notes

• The excerpt does not specify a construction timeline or grant repayment terms beyond the bonding and appropriation framework. Details would be determined in future related agreements and rules.

Relevant Terms - bond proceeds fund - Public Facilities Authority - grant - city of Hanska - water tower - design and construction - sale and issuance of state bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI (sections 4 to 7) - capital investment - appropriation