The charges say Lilly shot the bus driver, wounding him in the arm and grazing his head when Lilly approached the bus and fired through the windshield. One final flash is seen as the man stands next to the bus door.
Lilly then walked to the driver's side of the bus where he pulled out his 9-millimeter semiautomatic pistol from its holster.
Lilly then walked to the driver's side of the bus and called 911. The footage, which was made available to the public on Wednesday, was captured from a nearby traffic camera and outlines the incident from the moment of the shooting up until police arrive.
CCTV video of the freakish incident shows Lilly, who is from the city of St. Paul, driving ahead of the bus in slow traffic on a snowy road.
"Certainly this is very troubling to have someone that is providing safe transportation to our students being injured by gunfire", he said.
The violent ordeal unfolded after the alleged gunman, identified as 31-year-old Kenneth Lilly, drove his Toyota in front of a pickup truck and school bus before getting out of the vehicle and firing his gun, police said.
"The words to describe what went on here, you nearly start running out of ways to describe this".
"We do not believe there was a self-defense based on the evidence we have received so far", Chief Deputy Hennepin County Attorney David Brown said.
Lilly told officers he shot at the driver because he feared for his safety. He's wearing what appears to be a security guard uniform.
Brown said victim support staff have been assigned to this case, helping both the school bus driver and the girl. Lilly is set to appear in court on Friday, when prosecutors will request his bail to be set at $500,000.