HF 3717 Summary

• Amends Minnesota Statutes section 16A.967 to authorize state bond issuance for the Lewis and Clark Regional Water System project with a maximum of $19,000,000 net of issuance costs for Phase 2 and $11,500,000 net of issuance costs for Phase 3.

• Requires a minimum nonstate match of $9,000,000 committed before bonds may be sold for each project phase.

• Appropriates up to $1,351,000 annually from the general fund (fiscal years 2017-2038) and $855,000 annually (fiscal years 2018-2039) to pay principal and interest on the bonds.

• Establishes a special appropriation Lewis and Clark bond proceeds fund in the state treasury to hold bond proceeds and investment income, with funds distributed through the Public Facilities Authority to the Lewis and Clark Joint Powers Board for capital expenses.

• Specifies that bonds fund land acquisition, design, engineering, and construction for pipeline completion to Magnolia, extension to Lincoln-Pipestone Rural Water System near Adrian, reservoir construction in Nobles County, meter building in Worthington, and a SCADA system installation.