HF 2970

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/20/2023 02:11pm

A bill for an act
relating to capital investment; appropriating money for Higher Education Asset
Preservation and Replacement at the Minnesota State Colleges and Universities;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MINNESOTA STATE COLLEGES AND UNIVERSITIES; HIGHER
EDUCATION ASSET PRESERVATION AND REPLACEMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $200,000,000 is appropriated from the bond proceeds
fund to the Board of Trustees of the Minnesota State Colleges and Universities for Higher
Education Asset Preservation and Replacement (HEAPR) to be spent in accordance with
Minnesota Statutes, section 135A.046.
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 $200,000,000 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