MN HF4607

Authorizes the state commissioner to issue appropriation bonds not to exceed $8,300,000 for Phase 1 of the West Central Regional Water System project, including a trunk transmission pipeline to transport potable water from North Dakota to cities including Climax, Nielsville, Shelly, Halstad, Hendrum, Perley, Georgetown, Beltrami, Borup, and Felton.

Authorizes additional appropriation bonds not to exceed $64,000,000 for Phase 2 to finance a rural pipeline distribution system connected to the trunk pipeline to provide potable water to rural communities in west central Minnesota for agricultural and domestic use.

Requires a nonstate match of at least $8,300,000 for Phase 1 before bonds may be sold; Phase 2 bond sale requires a nonstate match amount to be determined.

Bonds may have a term not exceeding 25 years and bear fixed or variable interest rates; proceeds are deposited in a special appropriation fund and appropriated to the Public Facilities Authority for grants to the West Central Regional Water System Joint Powers Board.

Appropriates amounts from the general fund each fiscal year for debt service on the bonds, available from fiscal years 2017-2038 for Phase 1 bonds and 2018-2039 for Phase 2 bonds.