SF 2478

as introduced - 90th Legislature (2017 - 2018) Posted on 02/21/2018 08:50am

A bill for an act
relating to capital investment; appropriating money for retirement of certificates
of participation for the Minnesota Senate Building; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin MINNESOTA SENATE BUILDING.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $78,600,000 is appropriated from the bond proceeds
fund to the commissioner of administration to retire certificates of participation issued
pursuant to Laws 2013, chapter 143, article 12, section 21, for the purpose of: (1) providing
financing for the predesign, design, construction, and equipping of offices, hearings rooms,
and parking facilities for the Minnesota Senate Building; and (2) paying all fees and expenses,
including capitalized interest, incurred in connection to the issuance of the certificates.
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 $78,600,000 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