SF 922

as introduced - 87th Legislature (2011 - 2012) Posted on 02/23/2012 09:28am

A bill for an act
relating to capital investment; appropriating money for the Rochester Community
and Technical College work force center; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin ROCHESTER COMMUNITY AND TECHNICAL COLLEGE;
WORK FORCE CENTER COLOCATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,500,000 is appropriated from the bond proceeds
fund to the Board of Trustees of the Minnesota State Colleges and Universities to
complete the design and to construct, furnish, and equip an addition to the Heintz Center at
Rochester Community and Technical College and to renovate the heating, ventilating, and
air conditioning systems. The addition will house the Rochester Area Work Force Center.
The board of trustees must consult with the commissioner of employment and economic
development on the design of the renovations and addition. The board must enter into a
lease agreement with the commissioner of employment and economic development for
use of the work force center. The lease agreement must provide that lease payments
made by the commissioner will pay for the college's reasonable costs in support of the
work force center. The board shall pay the debt service on $1,079,000 of the principal
amount of state bonds sold to finance the project. The commissioner of employment
and economic development shall pay the debt service on $5,262,000 of the principal
amount of state bonds sold to finance the project in the manner provided in Minnesota
Statutes, section 16A.643.
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 $8,500,000 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