This bill appropriates $500,000 from the bond proceeds fund to the Public Facilities Authority for a grant to the city of Kennedy. The funds are designated for the predesign, design, engineering, and construction of replacement underground water storage tanks in the city.

To finance this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $500,000, following the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The bill also specifies that it will take effect the day after it is enacted.