This bill appropriates $1,000,000 from the bond proceeds fund to the Public Facilities Authority for a grant to the city of Spring Park specifically for the rehabilitation of the city's water tower. The bill outlines the process for funding this project, which includes the sale and issuance of state bonds by the commissioner of management and budget, up to the amount of $1,000,000. The bonds will be sold in accordance with existing Minnesota statutes and constitutional provisions.

Additionally, the bill includes a provision stating that it will take effect the day following its final enactment. This legislative action aims to support the infrastructure needs of Spring Park by ensuring the necessary funding is available for the water tower rehabilitation project.