as introduced - 90th Legislature (2017 - 2018) Posted on 03/14/2018 11:43am
A bill for an act
relating to higher education; eliminating debt service payment requirement for
state issued bonds for Minnesota State Colleges and Universities capital projects;
proposing coding for new law in Minnesota Statutes, chapter 136F.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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The board shall not be required to pay any debt service on a capital improvement project
financed by the sale of state general obligation bonds. An appropriation for a capital
improvement project financed by the sale of state general obligation bonds enacted after
June 30, 2018, requiring the board to pay debt service is void unless it makes specific
reference to this section.
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This section is effective July 1, 2018.
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