The bill proposes an appropriation of $12,750,000 from the bond proceeds fund to the commissioner of employment and economic development for the purpose of granting funds to the city of North Mankato. This funding is designated for the predesign, design, construction, furnishing, and equipping of an indoor recreational facility at the Caswell Regional Sporting Complex.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the same amount of $12,750,000 to finance the appropriation. The bond sale will be conducted in accordance with existing Minnesota statutes and constitutional provisions. The effective date of this section is set for the day following its final enactment.