SF 2547

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

A bill for an act
relating to capital improvements; authorizing the issuance of state bonds;
appropriating money for the Riverland Community College.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $6,221,000 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 (HEAPR) to be spent in accordance with Minnesota Statutes, section
135A.046. Of this appropriation, $3,025,000 is for replacement of the heating, ventilation,
and air conditioning phase I project in the main building on the Albert Lea campus, and
$3,196,000 is to replace the roof of building D on the Austin west campus, both part of
the Riverland Community College. The board of trustees shall not pay debt service on
bonds sold to finance projects authorized by this section.
new text end

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

new text begin To provide the money appropriated in this act from the bond proceeds fund, the
commissioner of finance shall sell and issue bonds of the state in an amount up to
$6,221,000 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

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

new text begin This act is effective the day following final enactment.
new text end