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SF 552

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

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf
Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8
1.9 1.10 1.11 1.12 1.13 1.14
1.15 1.16

A bill for an act
 relating to capital improvements; appropriating money for higher education asset
preservation and replacement; authorizing the sale and issuance of state bonds.

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

Section 1. APPROPRIATION.

$30,000,000 is appropriated from the bond proceeds fund to the Board of Trustees of
the Minnesota State Colleges and Universities for the purposes of higher education asset
preservation and replacement under Minnesota Statutes, section 135A.046.

Sec. 2. BOND SALE.

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
$30,000,000 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.

Sec. 3. EFFECTIVE DATE.

Sections 1 and 2 are effective the day following final enactment.