SF4897

Purpose

This bill creates a capital investment project at South Central College. It authorizes money to be used to design, build, renovate, and equip classroom and lab spaces for the dental assisting program at the North Mankato campus, and to replace the boiler system on that campus.

Key Provisions

• Subdivision 1 – Appropriation: An amount of 9,160,000 (nine million one hundred sixty thousand) dollars is appropriated from the bond proceeds fund to the Board of Trustees of the Minnesota State Colleges and Universities. The funds are for designing, constructing, renovating, and equipping classroom and lab spaces for the dental assisting program at the North Mankato campus of South Central College, and for replacing the campus boiler system.
• Subdivision 2 – Bond Sale: The commissioner of management and budget must sell and issue state bonds in an amount up to 9,160,000 to fund the appropriation, using the terms and effects prescribed by the relevant state statutes and the state constitution.

Funding and Legal Framework

• Funding source: Bond proceeds fund.
• Financing method: Issuance and sale of state bonds up to the specified amount.
• Compliance: The bond sale must follow Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution, article XI, sections 4 to 7.

Project Location and Beneficiary

• Location: North Mankato campus of South Central College.
• Beneficiary: Board of Trustees of the Minnesota State Colleges and Universities (the system governing MnSCU).

Impact and Purpose Summary

• Provides capital funding to improve facilities for the dental assisting program, modernizing instructional space and upgrading infrastructure (boiler system), supporting enhanced education at the South Central College site.

Relevant Terms - appropriation - bond proceeds fund - Board of Trustees of the Minnesota State Colleges and Universities - South Central College - North Mankato campus - dental assisting program - classroom and lab spaces - boiler system - design, construct, renovate, and equip - bond sale / sale and issue bonds - management and budget - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution article XI, sections 4 to 7