SF 863

as introduced - 90th Legislature (2017 - 2018) Posted on 02/15/2017 10:20am

A bill for an act
relating to capital investment; appropriating money for a chemical sciences and
advanced materials science building at the University of Minnesota on the Duluth
campus; authorizing the issuance of state bonds.

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

Section 1. new text begin CHEMICAL SCIENCES AND ADVANCED MATERIALS SCIENCE
BUILDING; UNIVERSITY OF MINNESOTA; DULUTH CAMPUS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $28,333,000 is appropriated from the bond proceeds
fund to the Board of Regents of the University of Minnesota to design, construct, furnish,
and equip a new laboratory building, including classrooms, research, and undergraduate
instructional laboratories, on the Duluth campus. This appropriation is intended to cover
two-thirds of the cost of the project. The remaining costs must be paid from university
sources.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivision 1 from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $28,333,000 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

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end