HF3438

Purpose

This bill provides funding for a new campus center at the University of Minnesota’s Saint Paul campus. It would finance the planning and building of the center using state bonds.

Main provisions

• Appropriation: 84,000,000 from the bond proceeds fund is dedicated to the Board of Regents of the University of Minnesota to predesign, design, renovate, construct, furnish, and equip a new campus center on the Saint Paul campus.
  • The project includes site preparation, hazardous materials abatement, and relocation or expansion of related utility infrastructure.
• University share: The appropriation is intended to cover about two-thirds of the project’s total cost. The remaining one-third must be paid by the university from non-bond sources.
• Bond sale: The state would issue bonds up to 84,000,000 to fund the project. The bond issuance must follow the terms and requirements of Minnesota law (Statutes 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, Sections 4 to 7).

Fiscal and legal framework

• Funding source: The money comes from the bond proceeds fund.
• Legal authority: Bonding and construction activities must comply with existing bond laws and constitutional provisions; no new bond authority outside the specified amount is created beyond this bill’s appropriation and sale.

Significant changes to existing law

• This bill does not revise current statutes. It authorizes a new appropriation and the sale of bonds up to 84,000,000 for the Saint Paul campus campus center, using the existing bonding framework (16A.631 to 16A.675 and Article XI).

Relevant terms bond proceeds fund Board of Regents University of Minnesota Saint Paul campus campus center predesign design renovate construct furnish equip site preparation hazardous materials abatement utility infrastructure relocation/expansion two-thirds university share bond sale Commissioner of Management and Budget Minnesota Statutes 16A.631-16A.675 Minnesota Constitution Article XI