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SF 1293

as introduced - 88th Legislature (2013 - 2014) Posted on 03/12/2013 09:12am

KEY: stricken = removed, old language. underscored = added, new language.

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Current Version - as introduced

A bill for an act
relating to capital investment; 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. HIGHER EDUCATION ASSET PRESERVATION AND
REPLACEMENT.

Subdivision 1.

Appropriation; University of Minnesota.

$75,000,000 is
appropriated from the bond proceeds fund to the Board of Regents of the University of
Minnesota for higher education asset preservation and replacement under Minnesota
Statutes, section 135A.046.

Subd. 2.

Appropriation; Minnesota State Colleges and Universities.

$75,000,000
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
under Minnesota Statutes, section 135A.046.

Subd. 3.

Bond sale.

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 $150,000,000 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.

EFFECTIVE DATE.

This section is effective the day following final enactment.

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