HF 614

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing the 
  1.3             issuance of state bonds; appropriating money for the 
  1.4             design, construction, furnishing, and equipping of a 
  1.5             new laboratory science building at the University of 
  1.6             Minnesota-Duluth. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [APPROPRIATION.] 
  1.9      $25,500,000 is appropriated from the bond proceeds fund to 
  1.10  the board of regents of the University of Minnesota for the 
  1.11  design, construction, furnishing, and equipping of a new 
  1.12  laboratory science building at the Duluth campus.  This 
  1.13  appropriation is contingent on $7,500,000 in nonstate money for 
  1.14  this project.  The board must pay debt service on only 
  1.15  $3,500,000 of the state bonds sold to finance this project. 
  1.16     Sec. 2.  [BOND SALE.] 
  1.17     To provide the money appropriated in this act from the bond 
  1.18  proceeds fund, the commissioner of finance shall sell and issue 
  1.19  bonds of the state in an amount up to $25,500,000 in the manner, 
  1.20  upon the terms, and with the effect prescribed by Minnesota 
  1.21  Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
  1.22  Constitution, article XI, sections 4 to 7. 
  1.23     Sec. 3.  [EFFECTIVE DATE.] 
  1.24     Sections 1 and 2 are effective the day following final 
  1.25  enactment.