1st Engrossment - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
A bill for an act
relating to capital improvements; appropriating money for asset preservation at
the University of Minnesota and Minnesota State Colleges and Universities;
authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) $40,000,000 is appropriated from the bond proceeds fund to the Board of Regents
of the University of Minnesota, to be spent in accordance with Minnesota Statutes,
section 135A.046.
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(b) $60,000,000 is appropriated from the bond proceeds fund to the Board of
Trustees of the Minnesota State Colleges and Universities, to be spent in accordance
with Minnesota Statutes, section 135A.046.
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To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$100,000,000 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.
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Unless another act explicitly provides otherwise, appropriations and transfers made
in this act and other acts must be implemented only once even if the provision or a similar
provision with the same fiscal effect in the same fiscal year is included in another act. This
section applies to laws enacted in the 2008 regular session.
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Sections 1 to 3 are effective the day following final enactment.
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