Senate File No. 358 is a legislative proposal that seeks to allocate funds for upgrading facilities at Riverland Community College, specifically at its Austin campus. The bill proposes a total of $9,924,000 to be used for designing, renovating, and equipping the student services area of the college. To generate these funds, the bill authorizes the state of Minnesota to sell and issue bonds. This action is governed by specific laws and constitutional provisions related to state bonding practices.