1.1                          A bill for an act 
  1.2             relating to higher education; revenue bonds; 
  1.3             increasing aggregate principal amount of revenue bonds 
  1.4             issued by the board of trustees of the Minnesota state 
  1.5             colleges and universities; clarifying bond 
  1.6             requirements; amending Minnesota Statutes 1998, 
  1.7             section 136F.98, subdivision 1. 
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  Minnesota Statutes 1998, section 136F.98, 
  1.10  subdivision 1, is amended to read: 
  1.11     Subdivision 1.  [ISSUANCE OF BONDS.] The board of trustees 
  1.12  of the Minnesota state colleges and universities or a successor 
  1.13  may issue additional revenue bonds under sections 136F.90 to 
  1.14  136F.97 in an aggregate principal amount not 
  1.15  exceeding $40,000,000, subject to the resolutions authorizing 
  1.16  its outstanding revenue bonds $135,000,000, and payable from the 
  1.17  revenue appropriated to the fund established by section 136F.94, 
  1.18  and use the proceeds together with other public or private money 
  1.19  that may otherwise become available to acquire land, and to 
  1.20  acquire, construct, complete, remodel, and equip structures or 
  1.21  portions thereof to be used for dormitory, residence hall, 
  1.22  student union, food service, and related parking purposes at the 
  1.23  state universities.  Bonds may be issued to refund previously 
  1.24  issued bonds, and any such refunding bonds may be issued in 
  1.25  addition to the bonds otherwise authorized by this subdivision.  
  1.26  Before issuing the bonds or any part of them, the board shall 
  2.1   consult with and obtain the advisory recommendations of the 
  2.2   chairs of the house ways and means committee and the senate 
  2.3   finance committee about the facilities to be financed by the 
  2.4   bonds.