Purpose

• The bill aims to finance the design, construction, and outfitting of a new campus center for the University of Minnesota on its Saint Paul campus. It authorizes the sale of state bonds to fund this project and related costs.

Main Provisions

• Subdivision 1 – Appropriation: Allocates 84,000,000 from the bond proceeds fund to the University of Minnesota Board of Regents to predesign, design, renovate, construct, furnish, and equip a new Saint Paul campus center. The money also covers site preparation, hazardous materials abatement, and the relocation or expansion of related utility infrastructure.
• Subdivision 2 – University share: The appropriation is intended to cover about two-thirds of the total project costs; the remaining costs must be paid by the University from university sources.
• Subdivision 3 – Bond sale: Directs the Commissioner of Management and Budget to sell and issue bonds up to 84,000,000 to fund the appropriation, using the terms and effects specified in Minnesota bond statutes (16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Financial Details

• Funding source: Bond proceeds fund.
• Project scope: Includes predesign, design, renovation, construction, furnishing, and equipment for a new campus center, plus site work, hazardous materials abatement, and utility infrastructure adjustments.
• Cost sharing: Approximately two-thirds covered by the appropriation; the remainder covered by University funds.
• Bond mechanics: Bonds are to be sold and issued under existing state bonding statutes and constitutional provisions.

Effects on Existing Law

• The bill leverages existing bonding authorities and procedures to finance the project; it does not establish new bond rules but uses current statute sections 16A.631–16A.675 and constitutional provisions to authorize and guide the sale of bonds.

Implications and Takeaways

• This is a major capital investment for the University of Minnesota’s Saint Paul campus, financed through state bonds, with a defined split in financing between the state and the university.
• The project scope includes significant infrastructure and safety-related work, not just the building itself.

Significance

• If enacted, the bill would commit the state to issuing bonds and providing a substantial portion of funding for the new campus center, potentially affecting future state debt levels and university development plans.

Relevant Terms - bond proceeds fund - Board of Regents of the University of Minnesota - Saint Paul campus center - predesign - design - renovate - construct - furnish - equip - site preparation - hazardous materials abatement - utility infrastructure relocation/expansion - University share - two-thirds - bond sale - sale and issue bonds - Commissioner of Management and Budget - Minnesota Statutes sections 16A.631 to 16A.675 - Minnesota Constitution Article XI sections 4 to 7 - capital investment - appropriation - bond proceeds fund