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SF 1988

as introduced - 89th Legislature (2015 - 2016) Posted on 05/19/2016 08:31am

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 (HEAPR) at the University of Minnesota and
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. HIGHER EDUCATION; HEAPR.

Subdivision 1.

Appropriation.

(a) $....... is appropriated from the bond proceeds
fund to the Board of Regents of the University of Minnesota to be spent in accordance
with Minnesota Statutes, section 135A.046.

(b) $....... is appropriated from the bond proceeds fund to the Board of Trustees of
the Minnesota State Colleges and Universities to be spent in accordance with 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 $....... 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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