Senate File No. 470 is a legislative bill proposed in Minnesota that aims to secure funding for the city of Kennedy to replace its underground water storage tanks. The bill proposes to appropriate $500,000 from a bond proceeds fund for the Public Facilities Authority to manage the project. This will include the predesign, design, engineering, and construction of the new water storage tanks. To finance this appropriation, the bill authorizes the state to sell and issue bonds up to the amount of $500,000, as governed by relevant state laws and constitutional provisions.