SF 990

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:17am

A bill for an act
relating to capital improvements; appropriating money for capital improvements
at the University of Minnesota and the Minnesota State Colleges and Universities;
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.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $39,500,000 is appropriated from the bond proceeds
fund to the board of regents for the purposes specified in this section.
new text end

new text begin Subd. 2. new text end

new text begin Bell Museum of Natural History. new text end

new text begin $39,500,000 is to complete design and
to construct, furnish, and equip a new Bell Museum of Natural History on the St. Paul
campus. This appropriation is intended to cover approximately two-thirds of the project
costs. The remaining costs must be paid from university sources.
new text end

Sec. 2. new text begin MINNESOTA STATE COLLEGES AND UNIVERSITIES.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $67,110,000 is appropriated from the bond proceeds
fund to the board of trustees for the purposes specified in this section.
new text end

new text begin Subd. 2. new text end

new text begin Hennepin Technical College. new text end

new text begin $10,600,000 to complete design and
to renovate, furnish, and equip existing space at the Brooklyn Center and Eden Prairie
campuses for a library, student services and science and technology classes.
new text end

new text begin Subd. 3. new text end

new text begin Lake Superior Community and Technical College. new text end

new text begin $11,550,000 to
complete design and to construct, furnish, and equip an addition to the Health and Science
Center and to renovate existing spaces.
new text end

new text begin Subd. 4. new text end

new text begin Metropolitan State University. new text end

new text begin $5,700,000 to construct, furnish, and
equip the renovation of two floors of technology-enhanced classrooms, and academic
offices in the power plant building. This appropriation includes money to demolish the
power plant annex to enable the new construction.
new text end

new text begin Subd. 5. new text end

new text begin Minnesota West Community and Technical College. new text end

new text begin $4,730,000 to
construct, furnish, and equip an addition to the field house and renovate, furnish, and
equip existing space.
new text end

new text begin Subd. 6. new text end

new text begin North Hennepin Community College. new text end

new text begin $13,970,000 to construct, furnish,
and equip the renovation of existing space for classrooms and related space and the
addition to the Center for Business and Technology.
new text end

new text begin Subd. 7. new text end

new text begin Northeast Higher Education District; Mesabi Range Community and
Technical College, Eveleth. new text end

new text begin $5,250,000 to construct, furnish, and equip shop space for
the industrial mechanical technology and carpentry programs. This appropriation includes
funding for renovation of existing space for ADA compliance.
new text end

new text begin Subd. 8. new text end

new text begin St. Cloud Technical College. new text end

new text begin $5,600,000 to complete design and to
construct, furnish, and equip the renovation of the Allied Health Center.
new text end

new text begin Subd. 9. new text end

new text begin Southwest Minnesota State University. new text end

new text begin $5,900,000 to complete design
and to construct, furnish, and equip the renovation of existing space and the addition to the
Plant Science Learning Center in the Science and Math Building.
new text end

new text begin Subd. 10. new text end

new text begin Systemwide classroom renovation. new text end

new text begin $3,810,000 to design, construct,
furnish, and equip the renovation of classroom and academic space. Campuses may
use nonstate money to increase the size of the projects. This appropriation may only
be used at the following campuses: Central Lakes College, Brainerd; Minnesota State
Community and Technical College, Moorhead and Wadena; Minnesota West Community
and Technical College, Pipestone; Northland Community and Technical College, Thief
River Falls; Pine Technical College, Pine City; and Rochester Community and Technical
College, Rochester.
new text end

new text begin Subd. 11. new text end

new text begin Debt service. new text end

new text begin (a) The board shall pay debt service on one-third of the
principal amount of state bonds sold to finance projects authorized by this section. After
each sale of general obligation bonds, the commissioner of finance shall notify the board
of the amounts assessed for each year for the life of the bonds.
new text end

new text begin (b) The commissioner shall reduce the board's assessment each year by one-third of
the net income from investment of general obligation bond proceeds in proportion to the
amount of principal and interest otherwise required to be paid by the board. The board
shall pay its resulting net assessment to the commissioner of finance by December 1 each
year. If the board fails to make a payment when due, the commissioner of finance shall
reduce allotments for appropriations from the general fund otherwise available to the
board and apply the amount of the reduction to cover the missed debt service payment.
The commissioner of finance shall credit the payments received from the board to the bond
debt service account in the state bond fund each December 1 before money is transferred
from the general fund under Minnesota Statutes, section 16A.641, subdivision 10.
new text end

Sec. 3. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in sections 1 and 2 from the bond proceeds
fund, the commissioner of finance shall sell and issue bonds of the state in an amount
up to $106,610,000 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. 4. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 3 are effective the day following final enactment.
new text end