Purpose

• Approve state funding for capital projects at Southwest Minnesota State University and authorize the sale of state bonds to cover these costs.

Main Provisions

• Subdivision 1 – Appropriation:
  • Total amount: 24,357,000 from the bond proceeds fund.
  • Breakdown:
  • 15,157,000 to design, construct, furnish, and equip renovations and improvements at the Physical Education Building, including athletic locker rooms, instructional spaces, updates to mechanical systems and other infrastructure.
  • 8,000,000 to design, construct, furnish, and equip an indoor sports and recreation dome to provide indoor athletic, wellness, and recreation space.
  • 1,200,000 to design, construct, furnish, and equip renovations of the Physical Education gymnasium.
• Subdivision 2 – Bond sale:
  • The Commissioner of Management and Budget shall sell and issue bonds in an amount up to 24,357,000 to finance the appropriation.
  • Bond issuance must follow Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution, Article XI, sections 4 to 7.

What This Bill Seeks to Accomplish

• Provides targeted funding to upgrade and expand athletic and recreation facilities at Southwest Minnesota State University, including both renovations to existing facilities and new indoor space for athletics and wellness.

Significant Changes to Existing Law

• Introduces a new capital investment appropriation specifically for Southwest Minnesota State University facilities and authorizes a new bond issuance process to fund these projects, drawing from the bond proceeds fund and following the standard state bonding statutes and constitutional provisions.

Context and Key Terms (from the bill)

• capital investment, appropriation, bond proceeds fund, bonds, sale and issuance of bonds, Southwest Minnesota State University, Physical Education Building, Physical Education Gymnasium, indoor sports and recreation dome, design, construct, furnish, equip, board of trustees of the Minnesota State Colleges and Universities, Commissioner of Management and Budget, Minnesota Statutes 16A.631-16A.675, Minnesota Constitution Article XI

Relevant Terms - capital investment - appropriation - bond proceeds fund - bonds - sale and issuance of bonds - Southwest Minnesota State University - Physical Education Building - Indoor sports and recreation dome - Physical Education gymnasium - design, construct, furnish, equip - board of trustees of the Minnesota State Colleges and Universities - Commissioner of Management and Budget - Minnesota Statutes 16A.631-16A.675 - Minnesota Constitution Article XI