HF 5427 Summary

• Authorizes the state commissioner to issue appropriation bonds not exceeding $16,500,000 (net of issuance costs) to fund a wastewater industrial pretreatment facility in Litchfield with processing capacity of up to 1,750,000 gallons per day, including biosolids handling and renewable gas production.

• Bond proceeds are appropriated to the Public Facilities Authority for a grant to First District Association, a dairy cooperative in Litchfield, for capital expenses related to the facility.

• Bonds have a maximum term of 21 years, may be issued at fixed or variable interest rates, and are not considered public debt of the state; state's full faith and credit are not pledged to repayment.

• General fund appropriations for debt service are available from fiscal year 2025 through fiscal year 2046, subject to annual legislative appropriation and cancellation if the legislature does not appropriate sufficient funds for any fiscal year.

• Commissioner may enter into ancillary agreements including trust indentures, lease agreements, credit enhancement arrangements, and interest exchange agreements to support the bonds.