Local government debt financing modifications

SF 2880 modifies rules for how Minnesota counties and cities issue bonds for capital projects. It changes county bond approval requirements (requiring 3/5 of the county board for regular counties, 2/3 for metro counties) and adds a process where voters can request a vote if 5% of recent election voters petition for it. The bill also expands the definition of eligible projects for state-backed bonds to include jails, courthouses connected to law enforcement facilities, and certain infrastructure like wastewater systems. Local governments seeking financing for these projects must now apply to the Minnesota Public Facilities Authority for state guarantee coverage, paying a $500 fee per bond issue. These changes aim to streamline local government financing while adding new approval steps for voter input.