The bill proposes an appropriation of $1,000,000 from the bond proceeds fund to the Public Facilities Authority for the city of Waseca. This funding is designated for acquiring land or permanent easements and for the predesign, survey, and design of a new water tower in Waseca. Notably, this appropriation does not require a nonstate match, making it a direct financial support for the city's infrastructure needs.

To facilitate this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $1,000,000. The bond issuance will be conducted in accordance with existing Minnesota statutes and constitutional provisions. The bill also specifies that it will take effect the day following its final enactment.