Text: S05493 Text: S05495 Text: S05400 - S05499 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 2453 as follows: 1 2 #1. Page 10, by inserting before line 15 the 1 3 following: 1 4 "DIVISION 1 5 Sec. . STATE BOARD OF REGENTS BONDING. 1 6 1. FINDINGS. The general assembly finds that: 1 7 a. Pursuant to section 262A.3, the state board of 1 8 regents prepared and within seven days after the 1 9 convening of the Seventy-eighth General Assembly of 1 10 the State of Iowa, Second Session, submitted to the 1 11 Seventy-eighth General Assembly, Second Session, for 1 12 approval the proposed five-year building program for 1 13 each institution of higher learning under the 1 14 jurisdiction of the board, containing a list of the 1 15 buildings and facilities which the board deems 1 16 necessary to further the educational objectives of the 1 17 institutions, together with an estimate of the cost of 1 18 each of the buildings and facilities and an estimate 1 19 of the maximum amount of revenue bonds which the board 1 20 expects to issue under chapter 262A for the fiscal 1 21 period beginning July 1, 2000, and ending June 30, 1 22 2002. 1 23 b. The projects contained in the capital 1 24 improvement program are deemed necessary for the 1 25 proper performance of the instructional, research, and 1 26 service functions of the institutions. 1 27 c. Section 262A.4 provides that the state board of 1 28 regents, after authorization by a constitutional 1 29 majority of each house of the general assembly and 1 30 approval by the governor, may undertake and carry out 1 31 at the institutions of higher learning under the 1 32 jurisdiction of the board any project as defined in 1 33 chapter 262A. 1 34 d. Chapter 262A authorizes the state board of 1 35 regents to borrow money and to issue and sell 1 36 negotiable revenue bonds to pay all or any part of the 1 37 cost of carrying out projects at any institution 1 38 payable solely from and secured by an irrevocable 1 39 pledge of a sufficient portion of the student fees and 1 40 charges and institutional income received by the 1 41 particular institution. 1 42 e. To further the educational objectives of the 1 43 institutions, the state board of regents requests 1 44 authorization to undertake and carry out certain 1 45 projects at this time and to finance their costs by 1 46 borrowing money and issuing negotiable bonds under 1 47 chapter 262A in the total amount set forth in this 1 48 section, the remaining costs of the projects to be 1 49 financed by appropriations or by federal or other 1 50 funds lawfully available. 2 1 2. APPROVAL LIMITS. 2 2 a. The proposed five-year building program 2 3 submitted by the state board of regents for each 2 4 institution of higher learning under its jurisdiction 2 5 is approved and no commitment is implied or intended 2 6 by approval to fund any portion of the proposed five- 2 7 year building program submitted by the state board of 2 8 regents beyond the portion that is financed and 2 9 approved by the Seventy-eighth General Assembly, 2 10 Second Session, and the governor. 2 11 b. During the fiscal period that commences July 1, 2 12 2000, and that ends June 30, 2002, the maximum amount 2 13 of bonds which the state board of regents expects to 2 14 issue under chapter 262A, unless additional bonding is 2 15 authorized, is as set forth in this section, all or 2 16 any part of which may be issued during the fiscal year 2 17 ending June 30, 2001, and if all of that amount is not 2 18 issued during that fiscal year, any remaining balance 2 19 may be issued during the fiscal year ending June 30, 2 20 2002, and this plan of financing is approved. 2 21 3. PROJECTS. The state board of regents is 2 22 authorized to undertake, plan, construct, equip, and 2 23 otherwise carry out the following projects at the 2 24 institutions of higher learning under the jurisdiction 2 25 of the board, and the general assembly authorizes the 2 26 state board of regents to borrow money and to issue 2 27 and sell negotiable revenue bonds in the manner 2 28 provided in sections 262A.5 and 262A.6 in order to pay 2 29 all or any part of the costs of carrying out the 2 30 projects, and the cost of issuance of bonds, at the 2 31 following institutions, as follows: 2 32 a. Iowa state university of science and technology 2 33 Planning, design, and construction of a new college 2 34 of business building: 2 35 .................................................. $ 10,300,000 2 36 b. State university of Iowa 2 37 Completion of Phase I of the art building: 2 38 .................................................. $ 15,400,000 2 39 c. University of northern Iowa 2 40 Planning for steam distribution system replacement: 2 41 .................................................. $ 1,000,000 2 42 d. Lakeside laboratory improvements: 2 43 .................................................. $ 230,000 2 44 4. BOND AMOUNTS EXCEED COSTS. If the amount of 2 45 bonds issued under this section exceeds the actual 2 46 costs of projects approved in this section, the amount 2 47 of the difference shall be used to pay the principal 2 48 and interest due on bonds issued under chapter 262A. 2 49 5. CAPITALIZATION OF RESERVE FUNDS. The state 2 50 board of regents may capitalize the issuance costs and 3 1 bond reserve funds equal to 11 percent of each bond 3 2 issue with respect to the bonds authorized pursuant to 3 3 this section and may increase the amount of the bonds 3 4 issued under this section to that extent." 3 5 #2. By numbering and renumbering as necessary. 3 6 3 7 3 8 3 9 ROBERT E. DVORSKY 3 10 JOHNIE HAMMOND 3 11 JOE BOLKCOM 3 12 SF 2453.204 78 3 13 nh/gg
Text: S05493 Text: S05495 Text: S05400 - S05499 Text: S Index Bills and Amendments: General Index Bill History: General Index
© 2000 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Apr 19 03:35:56 CDT 2000
URL: /DOCS/GA/78GA/Legislation/S/05400/S05494/000418.html
jhf