Minnesota Legislature
HF 3472
as introduced - 86th Legislature (2009 - 2010) Posted on 03/08/2010 09:45am
Current Version - as introduced
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A bill for an act
relating to higher education; raising the cap for revenue bonds authorized for the
Minnesota State Colleges and Universities System; amending Minnesota Statutes
2009 Supplement, section 136F.98, subdivision 1.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2009 Supplement, section 136F.98, subdivision 1,
is amended to read:
Subdivision 1.
Issuance of bonds.
The Board of Trustees of the Minnesota State
Colleges and Universities or a successor may issue revenue bonds under sections 136F.90
to 136F.97 whose aggregate principal amount at any time may not exceed deleted text begin $200,000,000deleted text end new text begin
$300,000,000new text end , and payable from the revenue appropriated to the fund established by
section 136F.94, and use the proceeds together with other public or private money that
may otherwise become available to acquire land, and to acquire, construct, complete,
remodel, and equip structures or portions thereof to be used for dormitory, residence hall,
student union, food service, parking purposes, or for any other similar revenue-producing
building or buildings of such type and character as the board finds desirable for the good
and benefit of the state colleges and universities. Before issuing the bonds or any part
of them, the board shall consult with and obtain the advisory recommendations of the
chairs of the house of representatives Ways and Means Committee and the senate Finance
Committee about the facilities to be financed by the bonds.