HF 1603

as introduced - 89th Legislature (2015 - 2016) Posted on 03/16/2015 04:33pm

A bill for an act
relating to capital investment; appropriating money for higher education asset
preservation and replacement at the University of Minnesota; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin UNIVERSITY OF MINNESOTA; HEAPR.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $55,000,000 is appropriated from the bond proceeds
fund to the Board of Regents of the University of Minnesota for higher education asset
preservation and replacement (HEAPR) under 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 $55,000,000 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