This bill appropriates $2,700,000 from the bond proceeds fund to the Public Facilities Authority for a grant to the city of Loretto. The funds are designated for the design, engineering, and construction of improvements to the city's water mains, water valves, sanitary sewer system, and stormwater system, which will also include associated street reconstruction.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $2,700,000 to provide the necessary funding. 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.