SF 3798

as introduced - 90th Legislature (2017 - 2018) Posted on 08/24/2018 08:49am

A bill for an act
relating to capital investment; appropriating money for renovation of the historic
Glensheen estate; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin UNIVERSITY OF MINNESOTA; GLENSHEEN RENEWAL.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,000,000 is appropriated from the bond proceeds fund
to the Board of Regents of the University of Minnesota to predesign, design, construct, and
equip the renovation of the historic Glensheen estate, including but not limited to renewal
of the main house, site structures, terraces, garden walls, the carriage house, and related
infrastructure and systems, and the existing pier and seawall to prevent shoreline erosion
and deterioration of lakeshore structures. This appropriation is intended to cover the entire
cost of the project and the Board of Regents is not required to cover a share of costs from
university sources.
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 $8,000,000 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