Minnesota Legislature
SF 3072
as introduced - 90th Legislature (2017 - 2018) Posted on 03/09/2018 09:02am
KEY: stricken = removed, old language.
underscored = added, new language.
Current Version - as introduced
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A bill for an act
relating to higher education; requiring certain payments by the Board of Trustees
of the Minnesota State Colleges and Universities for debt service on state-issued
bonds; proposing coding for new law in Minnesota Statutes, chapter 136F.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
new text begin
[136F.75] DEBT SERVICE PAYMENTS FOR STATE BONDS.
new text end
new text begin
Of the debt service required to be paid by the board on the principal amount of state
general obligation bonds sold to finance projects authorized by the legislature, the board
shall pay at least one-half of the cost from the systemwide budget.
new text end