Minnesota Legislature
HF 2991
as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am
KEY: stricken = removed, old language.
underscored = added, new language.
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 with 1.5 certain conditions; authorizing sale of state bonds; 1.6 appropriating money; amending Laws 2003, First Special 1.7 Session chapter 20, article 1, section 15. 1.8 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.9 Section 1. [CAPITAL IMPROVEMENT APPROPRIATIONS.] 1.10 The sums in the column under "APPROPRIATIONS" are 1.11 appropriated from the bond proceeds fund, or another named fund, 1.12 to the state agencies or officials indicated, to be spent for 1.13 public purposes. Appropriations of bond proceeds must be spent 1.14 as authorized by the Minnesota Constitution, article XI, section 1.15 5, paragraph (a), to acquire and better public land and 1.16 buildings and other public improvements of a capital nature, or 1.17 as authorized by the Minnesota Constitution, article XI, section 1.18 5, paragraphs (b) to (j), or article XIV. Unless otherwise 1.19 specified, the appropriations in this act are available until 1.20 the project is completed or abandoned subject to Minnesota 1.21 Statutes, section 16A.642. 1.22 SUMMARY 1.23 UNIVERSITY OF MINNESOTA $ ..,...,... 1.24 MINNESOTA STATE COLLEGES AND UNIVERSITIES ..,...,... 1.25 PERPICH CENTER FOR ARTS EDUCATION .,...,... 1.26 EDUCATION ..,...,... 2.1 MINNESOTA STATE ACADEMIES .,...,... 2.2 NATURAL RESOURCES ..,...,... 2.3 POLLUTION CONTROL AGENCY ..,...,... 2.4 OFFICE OF ENVIRONMENTAL ASSISTANCE .,...,... 2.5 BOARD OF WATER AND SOIL RESOURCES ..,...,... 2.6 AGRICULTURE ..,...,... 2.7 ZOOLOGICAL GARDEN ..,...,... 2.8 ADMINISTRATION ..,...,... 2.9 CAPITOL AREA ARCHITECTURAL AND PLANNING BOARD .,...,... 2.10 MILITARY AFFAIRS .,...,... 2.11 TRANSPORTATION ..,...,... 2.12 METROPOLITAN COUNCIL ..,...,... 2.13 HUMAN SERVICES ..,...,... 2.14 VETERANS HOMES BOARD .,...,... 2.15 VETERANS AFFAIRS ...,... 2.16 CORRECTIONS ...,...,... 2.17 EMPLOYMENT AND ECONOMIC DEVELOPMENT ..,...,... 2.18 HOUSING FINANCE AGENCY ..,...,... 2.19 MINNESOTA HISTORICAL SOCIETY .,...,... 2.20 BOND SALE EXPENSES ...,... 2.21 TOTAL $ ...,...,... 2.22 Bond Proceeds Fund 2.23 (General Fund Debt Service) ...,...,... 2.24 Bond Proceeds Fund 2.25 (User Financed Debt Service) ..,...,... 2.26 State Transportation Fund 2.27 Bond Proceeds Account ..,...,... 2.28 General Fund ..,...,... 2.29 Trunk Highway Fund .,...,... 2.30 Trunk Highway Bond Proceeds Account ..,...,... 2.31 APPROPRIATIONS 2.32 $ 2.33 Sec. 2. UNIVERSITY OF MINNESOTA 2.34 Subdivision 1. To the Board of Regents 2.35 of the University of Minnesota for the 2.36 purposes specified in this section ..,...,... 2.37 Subd. 2. Higher Education Asset 2.38 Preservation and Replacement (HEAPR) ..,...,... 2.39 To be spent in accordance with 2.40 Minnesota Statutes, section 135A.046. 3.1 Sec. 3. MINNESOTA STATE COLLEGES AND 3.2 UNIVERSITIES 3.3 Subdivision 1. To the Board of Trustees 3.4 of the Minnesota State Colleges and 3.5 Universities for the purposes specified in 3.6 this section ..,...,... 3.7 Subd. 2. Higher Education Asset 3.8 Preservation and Replacement ..,...,... 3.9 This appropriation is for the purposes 3.10 specified in Minnesota Statutes, 3.11 section 135A.046, including safety and 3.12 statutory compliance, envelope 3.13 integrity, mechanical systems, and 3.14 space restoration. 3.15 Subd. .. Debt Service 3.16 (a) The board shall pay the debt 3.17 service on one-third of the principal 3.18 amount of state bonds sold to finance 3.19 projects authorized by this section, 3.20 except for higher education asset 3.21 preservation and replacement in 3.22 subdivision 2. After each sale of 3.23 general obligation bonds, the 3.24 commissioner of finance shall notify 3.25 the board of the amounts assessed for 3.26 each year for the life of the bonds. 3.27 (b) The commissioner shall reduce the 3.28 board's assessment each year by 3.29 one-third of the net income from 3.30 investment of general obligation bond 3.31 proceeds in proportion to the amount of 3.32 principal and interest otherwise 3.33 required to be paid by the board. The 3.34 board shall pay its resulting net 3.35 assessment to the commissioner of 3.36 finance by December 1 each year. If 3.37 the board fails to make a payment when 3.38 due, the commissioner of finance shall 3.39 reduce allotments for appropriations 3.40 from the general fund otherwise 3.41 available to the board and apply the 3.42 amount of the reduction to cover the 3.43 missed debt service payment. The 3.44 commissioner of finance shall credit 3.45 the payments received from the board to 3.46 the bond debt service account in the 3.47 state bond fund each December 1 before 3.48 money is transferred from the general 3.49 fund under Minnesota Statutes, section 3.50 16A.641, subdivision 10. 3.51 Sec. 4. PERPICH CENTER FOR ARTS EDUCATION 3.52 Subdivision 1. To the commissioner 3.53 of administration for the purposes 3.54 specified in this section .,...,... 3.55 Sec. 5. EDUCATION 3.56 Subdivision 1. To the commissioner of 3.57 education for the purposes specified in 3.58 this section ..,...,... 3.59 Sec. 6. MINNESOTA STATE ACADEMIES .,...,... 4.1 Sec. 7. NATURAL RESOURCES 4.2 Subdivision 1. To the 4.3 commissioner of natural resources 4.4 for the purposes specified 4.5 in this section ..,...,... 4.6 Sec. 8. POLLUTION CONTROL AGENCY ..,...,... 4.7 Sec. 9. OFFICE OF ENVIRONMENTAL ASSISTANCE .,...,... 4.8 Sec. 10. BOARD OF WATER AND SOIL RESOURCES 4.9 Subdivision 1. To the Board 4.10 of Water and Soil Resources for the 4.11 purposes specified in this section ..,...,... 4.12 Sec. 11. AGRICULTURE 4.13 Subdivision 1. To the commissioner of 4.14 agriculture or other named agencies for 4.15 the purposes specified in this section ..,...,... 4.16 Sec. 12. MINNESOTA ZOOLOGICAL 4.17 GARDEN 4.18 Subdivision 1. To the Minnesota 4.19 Zoological Garden for the purposes 4.20 specified in this section ..,...,... 4.21 Sec. 13. ADMINISTRATION 4.22 Subdivision 1. To the commissioner 4.23 of administration for the purposes 4.24 specified in this section ..,...,... 4.25 Sec. 14. CAPITOL AREA ARCHITECTURAL 4.26 AND PLANNING BOARD .,...,... 4.27 Sec. 15. MILITARY AFFAIRS 4.28 Subdivision 1. To the adjutant 4.29 general for the purposes specified 4.30 in this section .,...,... 4.31 Sec. 16. TRANSPORTATION 4.32 Subdivision 1. To the 4.33 commissioner of transportation for 4.34 the purposes specified in this section ..,...,... 4.35 Sec. 17. METROPOLITAN COUNCIL 4.36 Subdivision 1. To the Metropolitan 4.37 Council for the purposes specified 4.38 in this section ..,...,... 4.39 Sec. 18. HUMAN SERVICES 4.40 Subdivision 1. To the 4.41 commissioner of administration 4.42 for the purposes specified 4.43 in this section ..,...,... 4.44 Sec. 19. VETERANS HOMES BOARD 4.45 Subdivision 1. To the commissioner 4.46 of administration for the purposes 4.47 specified in this section .,...,... 4.48 Sec. 20. VETERANS AFFAIRS ...,... 5.1 Sec. 21. CORRECTIONS 5.2 Subdivision 1. To the commissioner of 5.3 administration for the purposes specified 5.4 in this section ...,...,... 5.5 Sec. 22. EMPLOYMENT AND ECONOMIC DEVELOPMENT 5.6 Subdivision 1. To the commissioner of 5.7 employment and economic development or other 5.8 named agency for the purposes 5.9 specified in this section ..,...,... 5.10 Sec. 23. HOUSING FINANCE AGENCY ..,...,... 5.11 Sec. 24. MINNESOTA HISTORICAL SOCIETY 5.12 Subdivision 1. To the Minnesota 5.13 Historical Society for the purposes 5.14 specified in this section .,...,... 5.15 Sec. 25. BOND SALE EXPENSES ...,... 5.16 To the commissioner of finance for bond 5.17 sale expenses under Minnesota Statutes, 5.18 section 16A.641, subdivision 8. Of 5.19 this amount, $....... is appropriated 5.20 from the bond proceeds fund and 5.21 $....... is appropriated from the bond 5.22 proceeds account in the trunk highway 5.23 fund. 5.24 Sec. 26. Laws 2003, First Special Session chapter 20, 5.25 article 1, section 15, is amended to read: 5.26 Sec. 15. BOND SALE SCHEDULE 5.27 The commissioner of finance shall 5.28 schedule the sale of state general 5.29 obligation bonds so that, during the 5.30 biennium ending June 30, 2005, no more 5.31 than$673,625,000$....... will need to 5.32 be transferred from the general fund to 5.33 the state bond fund to pay principal 5.34 and interest due and to become due on 5.35 outstanding state general obligation 5.36 bonds. During the biennium, before 5.37 each sale of state general obligation 5.38 bonds, the commissioner of finance 5.39 shall calculate the amount of debt 5.40 service payments needed on bonds 5.41 previously issued and shall estimate 5.42 the amount of debt service payments 5.43 that will be needed on the bonds 5.44 scheduled to be sold. The commissioner 5.45 shall adjust the amount of bonds 5.46 scheduled to be sold so as to remain 5.47 within the limit set by this section. 5.48 The amount needed to make the debt 5.49 service payments is appropriated from 5.50 the general fund as provided in 5.51 Minnesota Statutes, section 16A.641. 5.52 Sec. 27. [BOND SALE AUTHORIZATION.] 5.53 Subdivision 1. [BOND PROCEEDS FUND.] To provide the money 5.54 appropriated in this act from the bond proceeds fund, the 5.55 commissioner of finance shall sell and issue bonds of the state 6.1 in an amount up to $....... in the manner, upon the terms, and 6.2 with the effect prescribed by Minnesota Statutes, sections 6.3 16A.631 to 16A.675, and by the Minnesota Constitution, article 6.4 XI, sections 4 to 7. 6.5 Subd. 2. [MAXIMUM EFFORT SCHOOL LOAN FUND.] To provide the 6.6 money appropriated in this act from the maximum effort school 6.7 loan fund, the commissioner of finance shall sell and issue 6.8 bonds of the state in an amount up to $....... in the manner, 6.9 upon the terms, and with the effect prescribed by Minnesota 6.10 Statutes, sections 16A.631 to 16A.675, and by the Minnesota 6.11 Constitution, article XI, sections 4 to 7. The proceeds of the 6.12 bonds, except accrued interest and any premium received on the 6.13 sale of the bonds, must be credited to a bond proceeds account 6.14 in the maximum effort school loan fund. 6.15 Subd. 3. [TRANSPORTATION FUND BOND PROCEEDS ACCOUNT.] To 6.16 provide the money appropriated in this act from the state 6.17 transportation fund, the commissioner of finance shall sell and 6.18 issue bonds of the state in an amount up to $....... in the 6.19 manner, upon the terms, and with the effect prescribed by 6.20 Minnesota Statutes, sections 16A.631 to 16A.675, and by the 6.21 Minnesota Constitution, article XI, sections 4 to 7. The 6.22 proceeds of the bonds, except accrued interest and any premium 6.23 received on the sale of the bonds, must be credited to a bond 6.24 proceeds account in the state transportation fund. 6.25 Subd. 4. [TRUNK HIGHWAY FUND BOND PROCEEDS ACCOUNT.] To 6.26 provide the money appropriated in this act from the trunk 6.27 highway bond proceeds account in the trunk highway fund, the 6.28 commissioner of finance shall sell and issue bonds of the state 6.29 in an amount up to $....... in the manner, upon the terms, and 6.30 with the effect prescribed by Minnesota Statutes, sections 6.31 167.50 to 167.52, and by the Minnesota Constitution, article 6.32 XIV, section 11, at the times and in the amount requested by the 6.33 commissioner of transportation. The proceeds of the bonds, 6.34 except accrued interest and any premium received on the sale of 6.35 the bonds, must be credited to the trunk highway bond proceeds 6.36 account in the trunk highway fund. 7.1 Sec. 28. [EFFECTIVE DATE.] 7.2 This act is effective the day following final enactment.