Initial financing for a huge project to deliver Missouri River water to North Dakota's Red River Valley now has the state Legislature's final approval.

The North Dakota House voted 92-0 on Friday to endorse legislation that includes $100 million for the project, which is expected to cost more than $700 million. It now goes to Gov. John Hoeven for his signature.

The bill gives the state Water Commission authority to issue up to $40 million worth of bonds for the project, and says the Legislature will be expected to set aside another $60 million in state funds over the next six years.

The proposed spending does not affect the next state budget, which the Legislature is now drafting.

"This bill is one piece of the puzzle that's been worked on for de-cades," said Rep. Rick Berg, R-Fargo, the House majority leader. "We're making choices for the long-term future of our state. … This bill, obviously, is great news for the state of North Dakota, and it moves our water projects forward."

Developers of the project are exploring the best way to supply more water for Fargo, Grand Forks and other Red River Valley communities. A study is currently under way to evaluate the environmental effects of several alternatives.

Fargo relies primarily on the Red River for its water supply. During the drought-stricken 1930s, the river almost dried up.

North Dakota state officials favor an alternative that would pipe Missouri River water from the McClusky Canal, in central North Dakota, to Lake Ashtabula, north of Valley City.

A water treatment plant would be built at the canal, and the lake would be used to regulate water flows into the Sheyenne River, which is a tributary of the Red River.

The bill is SB2345.