SF3564

Purpose

Provide capital funding to improve drinking water for residents of Waconia by building a new water treatment facility.

Main provisions

• Appropriation: $5,000,000 is appropriated from the bond proceeds fund to the Public Facilities Authority. The money is for a grant to the City of Waconia to acquire land and to design, construct, and equip a new water treatment facility, with the goal of increasing safe drinking water capacity for residents.
• Bond financing: The money for this project will come from selling and issuing state bonds up to $5,000,000, under the applicable Minnesota statutes and constitutional provisions.

Financial implications

• Source of funds: Bond proceeds fund.
• Recipient and use: Public Facilities Authority provides a grant to the City of Waconia for land acquisition and to design, construct, and equip the water treatment facility.
• Total bond-related authorization: Up to $5,000,000.

Legal and implementation details

• The project is authorized through a grant to a local city and financed by state bonds.
• Compliance requirements: Bond issuance and use must follow Minnesota Statutes sections 16A.631 to 16A.675 and Minnesota Constitution Article XI, sections 4 to 7.

Significance and potential impact

• Infrastructure improvement: Builds a new water treatment facility to increase safe drinking water capacity for Waconia residents.
• Local-economic role: Involves land acquisition and construction activities in the city.

Changes to existing law

• Establishes a new appropriation and bond authorization for a water treatment project in Waconia, enabling state funding and debt issuance for this local infrastructure project.

Effective date

• Not specified in the excerpt provided.

Relevant Terms - Waconia - water treatment facility - grant - City of Waconia - land acquisition - design - construct - equip - safe drinking water - capacity - residents - bond proceeds fund - Public Facilities Authority - appropriation - bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI, sections 4 to 7