Plain English Breakdown
Checked against official source text during the last sync.
Funding for University of Minnesota Saint Paul Campus Improvements
The bill provides funding and authorizes bond sales to support capital improvements at the University of Minnesota's Saint Paul campus.
What This Bill Does
- Appropriates $84 million from a special fund called the bond proceeds fund for capital improvements on the Saint Paul campus, including the construction of a new campus center.
- Requires the university to cover approximately one-third of the project costs with its own funds.
- Authorizes the sale and issuance of state bonds up to $84 million to raise the necessary funds.
Who It Names or Affects
- The University of Minnesota, specifically the Saint Paul campus
- State government agencies involved in managing and issuing bonds
Terms To Know
- Bond proceeds fund
- A special fund used to hold money raised from selling state bonds.
- Capital improvements
- Major upgrades or new construction projects for buildings and infrastructure.
Limits and Unknowns
- The bill does not specify how the university will raise its share of the project costs.
- It is unclear what specific facilities or features will be included in the new campus center.