HF 3397

as introduced - 89th Legislature (2015 - 2016) Posted on 03/23/2016 01:02pm

A bill for an act
relating to capital investment; appropriating money for a University of Minnesota
health sciences education facility; authorizing the sale and issuance of state bonds.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin HEALTH SCIENCES EDUCATION FACILITY; UNIVERSITY OF
MINNESOTA; MINNEAPOLIS CAMPUS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $66,667,000 is appropriated from the bond proceeds
fund to the Board of Regents of the University of Minnesota to demolish the Masonic
Memorial Building and the VFW Cancer Research Center, and to complete design,
renovate, construct, furnish, and equip education facilities on the Minneapolis campus to
meet the needs of the medical school and the academic health center. This appropriation is
intended to cover two-thirds of the cost of the project. The remaining costs must be paid
from university sources.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $66,667,000 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end