Purpose of the Bill

The bill aims to improve the water and sewer infrastructure in the city of Loretto, Minnesota. To achieve this goal, the bill calls for the appropriation of funds and the issuance of state bonds.

Main Provisions

• Funding Allocation: The bill proposes an appropriation of $2,700,000. This money will come from the bond proceeds fund and be allocated to the Public Facilities Authority. The funds are intended as a grant for the city of Loretto.

• Infrastructure Upgrade: Specifically, the funds will be used to design, engineer, and construct replacements for the city's water mains, water valves, sanitary sewer system, and stormwater system infrastructure. This includes any necessary street reconstruction associated with these improvements.

• Bond Issuance: To provide the necessary funds, the bill authorizes the commissioner of management and budget to sell and issue state bonds. The total amount authorized for bond issuance is up to $2,700,000.

Significant Changes

The bill does not propose significant changes to existing laws but acts as a specific authorization for financial actions (appropriation and bond issuance) under existing Minnesota statutes and constitutional guidelines.

Relevant Terms

• Bond issuance
• Water mains
• Sewer infrastructure
• Public Facilities Authority
• State bonds
• Infrastructure improvements