HF 1103

1st Engrossment - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing spending 
  1.3             to acquire and better public land and buildings and 
  1.4             other public improvements of a capital nature; 
  1.5             appropriating money to the Minnesota state colleges 
  1.6             and universities to demolish structures, eliminate 
  1.7             blight, and construct parking facilities and provide 
  1.8             security lighting; authorizing state bonds; 
  1.9             authorizing the board of trustees of the Minnesota 
  1.10            state colleges and universities to accept money to 
  1.11            demolish buildings and construct parking lots and to 
  1.12            contract to repay the money; authorizing the city of 
  1.13            Moorhead to issue bonds. 
  1.14  BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.15     Section 1.  [MOORHEAD STATE UNIVERSITY.] 
  1.16     $1,090,000 is appropriated from the bond proceeds fund to 
  1.17  the board of trustees of the Minnesota state colleges and 
  1.18  universities to demolish structures, eliminate blight, and 
  1.19  provide security lighting on certain recently acquired land at 
  1.20  Moorhead state university. 
  1.21     Sec. 2.  [BOND SALE.] 
  1.22     To provide the money appropriated in this act from the bond 
  1.23  proceeds fund, the commissioner of finance, on request of the 
  1.24  governor, shall sell and issue bonds of the state in an amount 
  1.25  up to $1,090,000 in the manner, upon the terms, and with the 
  1.26  effect prescribed by Minnesota Statutes, sections 16A.631 to 
  1.27  16A.675, and by the Minnesota Constitution, article XI, sections 
  1.28  4 to 7. 
  1.29     Sec. 3.  [AUTHORIZATION TO ACCEPT CITY FUNDS AND CONSTRUCT 
  2.1   PARKING FACILITIES.] 
  2.2      The board of trustees of the Minnesota state colleges and 
  2.3   universities may design and construct parking lots, and 
  2.4   accomplish site preparation and demolition of buildings as 
  2.5   necessary for the construction, at Moorhead state university.  
  2.6   The board may accept funds from the city of Moorhead for this 
  2.7   purpose and shall enter into a contract for repayment of the 
  2.8   funds to the city over a period not to exceed 15 years.  
  2.9   Repayments to the city shall be contractual obligations payable 
  2.10  from the general resources of the board of trustees of the 
  2.11  Minnesota state colleges and universities without limitation or 
  2.12  from appropriations for such purpose, and shall not be payments 
  2.13  of assessments subject to Minnesota Statutes, section 3.754, 
  2.14  135A.131, or 435.19.  The total cost of the project is not to 
  2.15  exceed $4,100,000. 
  2.16     Sec. 4.  [AUTHORIZATION FOR THE CITY OF MOORHEAD TO ISSUE 
  2.17  BONDS.] 
  2.18     To provide funds to loan to the board of trustees of the 
  2.19  Minnesota state colleges and universities for parking lots at 
  2.20  Moorhead state university, the city of Moorhead may issue not to 
  2.21  exceed $4,100,000 of general obligation bonds without an 
  2.22  election and not subject to limits on net debt.  Payments made 
  2.23  by the board of trustees of the Minnesota state colleges and 
  2.24  universities shall be pledged to the payment of the bonds, and 
  2.25  notwithstanding Minnesota Statutes, section 475.61, taxes need 
  2.26  not be levied if the pledged contract payments are sufficient to 
  2.27  meet 100 percent of the debt service on the bonds when due. 
  2.28     This section is effective the day after compliance with 
  2.29  Minnesota Statutes, section 645.021, subdivision 3, by the city 
  2.30  council of the city of Moorhead.