The bill proposes an appropriation of $6,800,000 from the bond proceeds fund to the commissioner of employment and economic development for a grant to the city of Cosmos. This funding is designated for the design, construction, renovation, furnishing, and equipping of a multifamily housing facility located at 130 Neptune Street North. The facility aims to provide supportive services for senior citizens, a child care center for children not yet in kindergarten, and programming for school-aged children during after-school hours and weekends.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $6,800,000 to finance the appropriated funds. The bond issuance will be conducted in accordance with the relevant Minnesota Statutes and the state constitution. The provisions of this bill will take effect the day following its final enactment.