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HF 3146

as introduced - 89th Legislature (2015 - 2016) Posted on 03/22/2016 08:11am

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 at the University of Minnesota; authorizing the sale
and issuance of state bonds.

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

Section 1. UNIVERSITY OF MINNESOTA; HEAPR.

Subdivision 1.

Appropriation.

$100,000,000 is appropriated from the bond
proceeds fund to the Board of Regents of the University of Minnesota for higher education
asset preservation and replacement (HEAPR) under Minnesota Statutes, section 135A.046.

Subd. 2.

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 $100,000,000 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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