HF 8

as introduced - 83rd Legislature, 2003 1st Special Session (2003 - 2003) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing spending 
  1.3             to acquire and better public land and buildings and 
  1.4             other public improvements of a capital nature with 
  1.5             certain conditions; authorizing sale of state bonds; 
  1.6             appropriating money. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8   Section 1.  [CAPITAL IMPROVEMENT APPROPRIATIONS.] 
  1.9      The sums in the column under "APPROPRIATIONS" are 
  1.10  appropriated from the bond proceeds fund, or another named fund, 
  1.11  to the state agencies or officials indicated, to be spent for 
  1.12  public purposes.  Appropriations of bond proceeds must be spent 
  1.13  as authorized by the Minnesota Constitution, article XI, section 
  1.14  5, paragraph (a), to acquire and better public land and 
  1.15  buildings and other public improvements of a capital nature, or 
  1.16  as authorized by article XI, section 5, paragraphs (b) to (j), 
  1.17  or article XIV.  Unless otherwise specified, the appropriations 
  1.18  in this article are available until the project is completed or 
  1.19  abandoned.  
  1.20                              SUMMARY 
  1.21  UNIVERSITY OF MINNESOTA                          $   ..,...,... 
  1.22  MINNESOTA STATE COLLEGES AND UNIVERSITIES            ..,...,... 
  1.23  CHILDREN, FAMILIES, AND LEARNING                     ..,...,... 
  1.24  BOARD OF WATER AND SOIL RESOURCES                     .,...,... 
  1.25  TRANSPORTATION                                       ..,...,... 
  1.26  TRADE AND ECONOMIC DEVELOPMENT                       ..,...,... 
  2.1   BOND SALE EXPENSES                                      ...,... 
  2.2   TOTAL                                            $  ...,...,...
  2.3   Bond Proceeds Fund 
  2.4   (General Fund Debt Service)                         ...,...,... 
  2.5   Bond Proceeds Fund  
  2.6   (User Financed Debt Service)                         ..,...,...  
  2.7                                                    APPROPRIATIONS
  2.8                                                    $ 
  2.9   Sec. 2.  UNIVERSITY OF MINNESOTA 
  2.10  Subdivision 1.  To the board of regents
  2.11  of the University of Minnesota for the 
  2.12  purposes specified in this section                   ..,...,... 
  2.13  Sec. 3.  MINNESOTA STATE COLLEGES AND 
  2.14  UNIVERSITIES 
  2.15  Subdivision 1.  To the board of trustees
  2.16  of the Minnesota state colleges and 
  2.17  universities for the purposes specified in
  2.18  this section                                         ..,...,...
  2.19  Sec. 4.  CHILDREN, FAMILIES, AND LEARNING 
  2.20  Subdivision 1.  To the commissioner of
  2.21  children, families, and learning for the
  2.22  purposes specified in this section                   ..,...,...
  2.23  Sec. 5.  BOARD OF WATER AND SOIL RESOURCES 
  2.24  Subdivision 1.  To the board 
  2.25  of water and soil resources for the 
  2.26  purposes specified in this section                    .,...,... 
  2.27  Sec. 6.  TRANSPORTATION 
  2.28  Subdivision 1.  To the 
  2.29  commissioner of transportation for 
  2.30  the purposes specified in this section               ..,...,...
  2.31  Sec. 7.  DEPARTMENT OF TRADE AND
  2.32  ECONOMIC DEVELOPMENT 
  2.33  Subdivision 1.  To the 
  2.34  commissioner of trade and economic development
  2.35  for the purposes specified in this section           ..,...,...
  2.36  Sec. 8.  BOND SALE EXPENSES                             ...,... 
  2.37  To the commissioner of finance for bond 
  2.38  sale expenses under Minnesota Statutes, 
  2.39  section 16A.641, subdivision 8.  This 
  2.40  appropriation is from the bond proceeds 
  2.41  fund. 
  2.42  Sec. 9.  BOND SALE SCHEDULE   
  2.43  The commissioner of finance shall 
  2.44  schedule the sale of state general 
  2.45  obligation bonds so that, during the 
  2.46  biennium ending June 30, 2005, no more 
  2.47  than $...,...,... will need to be 
  2.48  transferred from the general fund to 
  2.49  the state bond fund to pay principal 
  2.50  and interest due and to become due on 
  2.51  outstanding state general obligation 
  3.1   bonds.  During the biennium, before 
  3.2   each sale of state general obligation 
  3.3   bonds, the commissioner of finance 
  3.4   shall calculate the amount of debt 
  3.5   service payments needed on bonds 
  3.6   previously issued and shall estimate 
  3.7   the amount of debt service payments 
  3.8   that will be needed on the bonds 
  3.9   scheduled to be sold.  The commissioner 
  3.10  shall adjust the amount of bonds 
  3.11  scheduled to be sold so as to remain 
  3.12  within the limit set by this section.  
  3.13  The amount needed to make the debt 
  3.14  service payments is appropriated from 
  3.15  the general fund as provided in 
  3.16  Minnesota Statutes, section 16A.641.  
  3.17     Sec. 10.  [BOND SALE AUTHORIZATION.] 
  3.18     To provide the money appropriated in this article from the 
  3.19  bond proceeds fund, the commissioner of finance shall sell and 
  3.20  issue bonds of the state in an amount up to $....... in the 
  3.21  manner, upon the terms, and with the effect prescribed by 
  3.22  Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  3.23  Minnesota Constitution, article XI, sections 4 to 7.  
  3.24     Sec. 11.  [EFFECTIVE DATE.] 
  3.25     This act is effective the day following final enactment.