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
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