SF3947

Purpose

This bill provides state funding to replace water storage tanks in the city of Kennedy. It does this by authorizing a grant from a state bond program and by allowing the state to issue bonds to pay for the project.

Main Provisions

• Subdivision 1 – Appropriation:

  • Allocates 734,000 dollars from the bond proceeds fund to the Public Facilities Authority.
  • The funds are for a grant to the city of Kennedy to predesign, design, engineer, and construct the replacement of its water storage tanks.

• Subdivision 2 – Bond Sale:

  • Directs the Commissioner of Management and Budget to sell and issue bonds up to 734,000 dollars using the bond proceeds fund.
  • Bonds must be issued under the applicable Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4–7).

What the bill seeks to accomplish

• Provides capital investment to upgrade or replace aging water storage infrastructure in Kennedy.
• Uses state bonding authority to finance the project, with the Public Facilities Authority administering the grant and project steps.

Significance and potential impact

• Enables a local water infrastructure project through state funding and debt issuance.
• Creates fiscal obligations in the form of approved bond debt to support the project.
• Involves state agencies (Public Facilities Authority and the Commissioner of Management and Budget) in funding and administration.

Implementation steps outlined

• The project scope includes predesign, design, engineering, and construction of the new water storage tanks.

Related legal references

• Minnesota Statutes 16A.631 to 16A.675 (bonding guidelines)
• Minnesota Constitution Article XI, sections 4 to 7 (bond issuance framework)

Relevant Terms - Kennedy - water storage tanks - Public Facilities Authority - grant - appropriation - bond proceeds fund - predesign - design - engineer - construct - replacement - bond sale / bonds - Commissioner of Management and Budget - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4–7 - capital investment