Purpose of the Bill

The purpose of this bill is to provide funding for improvements to the water treatment facility in the city of St. Peter, Minnesota. It aims to ensure that the necessary upgrades and replacements can be made to the aging infrastructure of the facility.

Main Provisions

• Financial Appropriation: The bill appropriates $21,500,000 for the project. This money is intended for the predesign, design, construction, and equipping of the rehabilitation and replacement of infrastructure in the existing water treatment facility in St. Peter, Minnesota.

• Bond Issuance: To fund this appropriation, the bill authorizes the sale and issuance of state bonds up to the amount of $21,500,000. This will be managed by the commissioner of management and budget following specified Minnesota statutes and constitutional guidelines.

Significant Changes to Existing Law

This bill introduces a specific investment in the water infrastructure of St. Peter by utilizing state bonds, which is a method of public financing through which the state can raise funds from investors that will be paid back with interest at a later date. There are no direct amendments to existing laws, but it affects financial statutes related to state bond issuance.

Relevant Terms

• Capital investment
• Water treatment facility
• St. Peter
• Infrastructure improvements
• Bond proceeds
• Public Facilities Authority
• State bonds