The bill proposes an appropriation of $2,700,000 from the bond proceeds fund to the Public Facilities Authority for the city of Loretto. This funding is designated for the design, engineering, and construction of essential water and sewer infrastructure improvements, including the replacement of water mains, water valves, and the sanitary sewer and stormwater systems, 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 $2,700,000, 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.