Bill > HF3202

This bill provides $4,000,000 in state bond funding for the renovation of the Hayden Heights Library in St. Paul, Minnesota. The appropriation will be used to design, construct, furnish, and equip the library, with the funds coming from state bond proceeds. The commissioner of management and budget is authorized to sell and issue up to $4,000,000 in state bonds to finance the project, following standard state bonding procedures outlined in Minnesota Statutes sections 16A.631 to 16A.675 and in accordance with the Minnesota Constitution. The bill specifies that the funding is a grant to the city of St. Paul specifically for this library renovation project, and it will become effective the day after it is officially enacted. State bonds are essentially a form of borrowing where the state government raises money by selling bonds to investors, with the promise to repay the borrowed funds with interest over time, typically used to fund large infrastructure and capital improvement projects.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF3202&ssn=0&y=2025