SF 1609

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; appropriating money to purchase the Owatonna
College and University Center; authorizing sale and issuance of state bonds.

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

Section 1. new text begin APPROPRIATION; MINNESOTA STATE COLLEGES AND
UNIVERSITIES PROPERTY ACQUISITION.
new text end

new text begin $....... is appropriated from the bond proceeds fund to the Board of Trustees of
the Minnesota State Colleges and Universities to purchase the Owatonna College and
University Center (OCUC) from the city of Owatonna, including the building and
approximately nine acres upon which the building is located, and approximately 18 acres
of city of Owatonna land immediately adjacent to the OCUC.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin 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 $....... in
the manner, on 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end