SF 1293

as introduced - 88th Legislature (2013 - 2014) Posted on 03/12/2013 09:12am

A bill for an act
relating to capital investment; appropriating money for Higher Education Asset
Preservation and Replacement; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin HIGHER EDUCATION ASSET PRESERVATION AND
REPLACEMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation; University of Minnesota. new text end

new text begin $75,000,000 is
appropriated from the bond proceeds fund to the Board of Regents of the University of
Minnesota for higher education asset preservation and replacement under Minnesota
Statutes, section 135A.046.
new text end

new text begin Subd. 2. new text end

new text begin Appropriation; Minnesota State Colleges and Universities. new text end

new text begin $75,000,000
is appropriated from the bond proceeds fund to the Board of Trustees of the Minnesota
State Colleges and Universities for higher education asset preservation and replacement
under Minnesota Statutes, section 135A.046.
new text end

new text begin Subd. 3. 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 $150,000,000 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