The bill appropriates $4,700,000 from the bond proceeds fund to the commissioner of transportation for a grant to the city of Waconia. This funding is designated for the design, engineering, construction, and reconstruction of local road improvements associated with the reconstruction of marked Trunk Highway 5. The improvements will span from the intersection with marked Trunk Highway 284 and South Olive Street to the intersection with Carver County State-Aid Highway 59, known as Main Street. The term "local road improvements" encompasses various infrastructure projects, including frontage roads, backage roads, connecting local streets, trails, and utility infrastructure that qualify for the use of general obligation bond proceeds.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $4,700,000 to fund the appropriated money. The bond issuance will be conducted in accordance with the relevant Minnesota Statutes and the Minnesota Constitution. The provisions of this bill will take effect the day following its final enactment.