HF 859

1st Committee Engrossment - 86th Legislature (2009 - 2010)

Posted on 03/19/2013 07:28 p.m.

1.1A bill for an act 1.2relating to higher education; capital improvements; appropriating money for 1.3higher education asset preservation and replacement; authorizing the sale of 1.4state bonds. 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.6    Section 1. new text begin HIGHER EDUCATION ASSET PRESERVATION AND new text end 1.7 new text begin REPLACEMENT. new text end 1.8     new text begin Subdivision 1. new text end new text begin Minnesota State Colleges and Universities. new text end new text begin $50,000,000 is new text end 1.9 new text begin appropriated from the bond proceeds fund to the Board of Trustees of the Minnesota new text end 1.10 new text begin State Colleges and Universities for the purposes specified in Minnesota Statutes, section new text end 1.11 new text begin 135A.046, including safety and statutory compliance, building envelope integrity, new text end 1.12 new text begin mechanical systems, and space restoration. new text end 1.13     new text begin Subd. 2. new text end new text begin University of Minnesota. new text end new text begin $35,000,000 is appropriated from the bond new text end 1.14 new text begin proceeds fund to the Board of Regents of the University of Minnesota to be spent in new text end 1.15 new text begin accordance with Minnesota Statutes, section 135A.046. new text end 1.16    Sec. 2. new text begin BOND AUTHORIZATION. new text end 1.17 new text begin To provide the money appropriated in this act from the bond proceeds fund, the new text end 1.18 new text begin commissioner of finance shall sell and issue bonds of the state in an amount up to new text end 1.19 new text begin $85,000,000 in the manner, upon the terms, and with the effect prescribed by Minnesota new text end 1.20 new text begin Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution, article XI, new text end 1.21 new text begin sections 4 to 7. new text end