The bill proposes an appropriation of $2,500,000 from the bond proceeds fund to the Public Facilities Authority for the city of Cohasset. This funding is designated for the design, construction, reconstruction, and equipping of the city's water tower, as well as the extension of water, sanitary sewer, and storm sewer infrastructure throughout the city, along with associated street reconstruction.

To facilitate this appropriation, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $2,500,000, following the procedures outlined in Minnesota Statutes and the Minnesota Constitution. The bill also includes a provision stating that it will take effect the day after it is enacted.