The bill proposes an appropriation of $2,962,000 from the bond proceeds fund to the commissioner of employment and economic development for a grant to the city of Faribault. This funding is designated for the construction, furnishing, and equipping of capital improvements at a municipal park in downtown Faribault. The planned improvements include an outdoor refrigerated skating loop, a splash pad, trails, sidewalks, landscaping, lighting, tables, benches, and parking areas.

To finance this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $2,962,000, following the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The effective date of this section is set for the day following its final enactment.