SF150

Purpose

This bill would invest in Hanley Falls by providing a financial grant for upgrading essential municipal infrastructure. It would fund this through the sale of state bonds, and the money would come from the bond proceeds fund.

Main Provisions

• Subdivision 1 – Appropriation

  • An amount of 6,400,000 is appropriated from the bond proceeds fund to the Public Facilities Authority.
  • The Authority would provide a grant to the city of Hanley Falls to design, construct, and equip the replacement of aging and failing municipal infrastructure.
  • The funding covers improvements and replacement of:
  • water distribution system
  • sanitary sewer system
  • storm sewer system infrastructure
  • reconstruction of city streets

• Subdivision 2 – Bond sales

  • The commissioner of management and budget must sell and issue up to 6,400,000 in state bonds to finance the appropriation.
  • Bond terms and process must follow Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Significance and Impacts

• Creates a new state-financed grant program for one city (Hanley Falls) to address local water, sewer, and street needs.
• Establishes a debt obligation through the sale of state bonds to fund the grant.
• Uses the bond proceeds fund and the Public Facilities Authority as the administering entity for the grant.
• Aligns the funding with existing bonding statutes and constitutional approvals.

Key Terms and Phrases from the Bill

• bond proceeds fund
• Public Facilities Authority
• grant
• city of Hanley Falls
• design, construct, and equip
• replacement of aging and failing municipal infrastructure
• water distribution system
• sanitary sewer system
• storm sewer system
• infrastructure
• street reconstruction
• bond sale
• commissioner of management and budget
• bonds (state bonds)
• Minnesota Statutes 16A.631 to 16A.675
• Minnesota Constitution Article XI, sections 4 to 7

Relevant Terms - bond proceeds fund - Public Facilities Authority - grant - Hanley Falls - water distribution system - sanitary sewer system - storm sewer system - infrastructure - street reconstruction - design, construct, equip - bond sale - management and budget - bonds - 16A.631 to 16A.675 - Article XI 4-7