SF4856

Purpose

• Approve funding and debt authority to support the St. Cloud Mississippi Riverwalk Connection project, by providing a grant to the City of St. Cloud and authorizing the sale of state bonds.

Main Provisions

• Subdivision 1 — Appropriation:
  • Allocates 3,150,000 from the bond proceeds fund to the commissioner of employment and economic development.
  • Purpose: to grant the City of St. Cloud to design, engineer, construct, and equip the St. Cloud Mississippi Riverwalk Connection Project.
  • Project components include: grading, trail and pathway construction, pedestrian crossings (if needed), lighting, landscaping, riverbank stabilization, shoreline restoration, utility work, and related public infrastructure improvements.
• Subdivision 2 — Bond Sale:
  • Requires the commissioner of management and budget to sell and issue up to 3,150,000 in state bonds to fund the appropriation.
  • Bonds to be issued under the terms of Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution, Article XI, sections 4 to 7.

Funding and Bond Issuance

• Source of funds: bond proceeds fund.
• Financing method: state bonds (debt financing) to be issued to provide the appropriation.

Project Scope

• Project: St. Cloud Mississippi Riverwalk Connection.
• Focus: creating or enhancing a riverwalk connection related to the Mississippi River in St. Cloud, with infrastructure and public improvements as described above.

Governance and Oversight

• Administration: funding managed through the state’s bonding and economic development processes (DEED for the grant; Management and Budget for the bond sale).
• Legal framework: uses specified Minnesota statutes and constitutional provisions governing debt issuance.

Implications and Impact

• Enables a major local infrastructure project in St. Cloud through state-backed financing and grant support.
• Establishes a framework for design, construction, and improvements along the riverwalk, potentially affecting local transportation, recreation, and riverfront development.

Significance for Existing Law

• Creates a targeted appropriation and bond authorization for a specific project; relies on existing bond issuance statutes and constitutional authority.
• No broad changes to law beyond enabling this particular capital investment and debt issuance for the St. Cloud riverwalk project.

Relevant Terms bond proceeds fund; appropriation; grant to the city of St. Cloud; St. Cloud Mississippi Riverwalk Connection Project; design; engineer; construct; equip; grading; trail; pathway construction; pedestrian crossings; lighting; landscaping; riverbank stabilization; shoreline restoration; utility work; public infrastructure improvements; commissioner of employment and economic development; commissioner of management and budget; sell and issue bonds; Minnesota Statutes 16A.631 to 16A.675; Minnesota Constitution Article XI sections 4 to 7