SF1043

Purpose

• This bill proposes a capital investment project to support the City of Keewatin. It would provide funding to improve essential local infrastructure, including water, sewer, and streets.

Main provisions

• Appropriation of funds:
  • Allocates 5,500,000 from the bond proceeds fund.
  • The money goes as a grant to the City of Keewatin, administered by the Department of Employment and Economic Development (DEED).
  • The grant is for designing, constructing, furnishing, and equipping the replacement and reconstruction of water mains, sanitary sewer lines, storm sewer systems, and streets in Keewatin.
• Bond financing:
  • Requires the Commissioner of Management and Budget to sell and issue state bonds up to 5,500,000 to fund the appropriation.
  • Bonds would be issued under the state’s existing bonding framework (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution, Article XI, sections 4 to 7.

Significant changes to existing law

• Creates a new appropriation specifically for Keewatin’s water, sewer, storm sewer, and street infrastructure as part of the capital investment program.
• Establishes authorization to issue bonds for this project, aligning with current bonding laws and constitutional provisions without altering those frameworks.

What this bill seeks to accomplish

• Provide targeted funding and financing for a major local infrastructure upgrade in Keewatin, enabling the city to replace and upgrade water mains, sewer systems (sanitary and storm), and street improvements.

Potential implications

• The city would receive a grant to support comprehensive utility and street reconstruction.
• State debt would be increased up to 5.5 million through bond issuance to finance the project.

Relevant Terms - water mains - sanitary sewer lines - storm sewer systems - streets - replacement and reconstruction - grant - City of Keewatin - Department of Employment and Economic Development (DEED) - bond proceeds fund - bond sale / bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI, Sections 4-7 - capital investment - infrastructure funding