Purpose of the Bill

The purpose of the bill is to allocate funds specifically for the improvement and reconstruction of essential infrastructure in the city of Minnetonka Beach, Minnesota. This includes improvements to water, sewer, and stormwater systems, as well as street reconstruction.

Main Provisions

• Funding Appropriation: A total of $5,167,000 is proposed to be appropriated from the bond proceeds fund. These funds are intended as a grant to Minnetonka Beach to cover various infrastructure projects.
• Infrastructure Improvements: The appropriation is targeted towards replacing and improving aging and failing infrastructures such as:
  • Water distribution systems
  • Sanitary sewer systems
  • Storm sewer systems
  • Reconstruction of city streets
• Bond Authorization: To finance these improvements, the bill authorizes the sale and issuance of state bonds up to the amount of $5,167,000. The process for selling these bonds will adhere to specific Minnesota statutes and constitutional guidelines.

Significant Changes to Existing Law

• This bill proposes the issuance of new state bonds specifically for this infrastructure project. As this involves new appropriations and financial instruments not previously allocated, it represents a change from current financial commitments by the state government.

Relevant Terms

capital investment, water infrastructure, sewer system, stormwater management, street reconstruction, state bonds, appropriation, Minnetonka Beach, bond sale