The bill proposes an appropriation of $600,000 from the bond proceeds fund to the Public Facilities Authority for a grant to the city of East Grand Forks. This funding is designated for preliminary engineering and construction improvements to the city's south water tower. Notably, this appropriation is exempt from certain requirements outlined in Minnesota Statutes, section 16A.86, subdivision 4.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $600,000 to finance the appropriated funds. The bond issuance will follow the procedures established by Minnesota Statutes, sections 16A.631 to 16A.675, and the Minnesota Constitution, article XI, sections 4 to 7. The provisions of this bill will take effect the day after it is enacted.