SF 1263

Introduction - 94th Legislature (2025 - 2026)

Posted on 02/14/2025 09:23 a.m.

A bill for an act
relating to capital investment; appropriating money to the University of Minnesota
for capital improvements in Mower County for the FAARM program; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin FUTURE OF ADVANCED AGRICULTURAL RESEARCH IN
MINNESOTA.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $20,000,000 is appropriated from the bond proceeds
fund to the Board of Regents of the University of Minnesota for land acquisition, site
preparation, predesign, design, and preconstruction activities for new education, research,
animal housing, equipment storage, and associated support facilities in Mower County for
the Future of Advanced Agricultural Research in Minnesota (FAARM) program. This
appropriation is for the initial phase of the project, and any remaining funds after completion
of this phase may be used for later phases of this project, including preconstruction and
construction.
new text end

new text begin Subd. 2. new text end

new text begin University share. new text end

new text begin The appropriation in this section is intended to cover
approximately two-thirds of the costs of this phase of the project. The remaining project
costs must be paid from university sources.
new text end

new text begin Subd. 3. 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 $20,000,000 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