Text: SF00160 Text: SF00162 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 DIVISION I 1 2 STATE BOARD OF REGENTS CAPITAL PROJECTS 1 3 Section 1. STATE BOARD OF REGENTS BONDING. 1 4 1. FINDINGS. The general assembly finds that: 1 5 a. Pursuant to section 262A.3, the state board of regents 1 6 prepared and within seven days after the convening of the 1 7 Seventy-ninth General Assembly of the State of Iowa, First 1 8 Session, submitted to the Seventy-ninth General Assembly, 1 9 First Session, for approval the proposed five-year building 1 10 program for each institution of higher learning under the 1 11 jurisdiction of the board, containing a list of the buildings 1 12 and facilities which the board deems necessary to further the 1 13 educational objectives of the institutions, together with an 1 14 estimate of the cost of each of the buildings and facilities 1 15 and an estimate of the maximum amount of revenue bonds which 1 16 the board expects to issue under chapter 262A for the fiscal 1 17 period beginning July 1, 2001, and ending June 30, 2003. 1 18 b. The projects contained in the capital improvement 1 19 program are deemed necessary for the proper performance of the 1 20 instructional, research, and service functions of the 1 21 institutions. 1 22 c. Section 262A.4 provides that the state board of 1 23 regents, after authorization by a constitutional majority of 1 24 each house of the general assembly and approval by the 1 25 governor, may undertake and carry out at the institutions of 1 26 higher learning under the jurisdiction of the board any 1 27 project as defined in chapter 262A. 1 28 d. Chapter 262A authorizes the state board of regents to 1 29 borrow moneys and to issue and sell negotiable revenue bonds 1 30 to pay all or any part of the cost of carrying out projects at 1 31 any institution payable solely from and secured by an 1 32 irrevocable pledge of a sufficient portion of the student fees 1 33 and charges and institutional income received by the 1 34 particular institution. 1 35 e. To further the educational objectives of the 2 1 institutions, the state board of regents requests 2 2 authorization to undertake and carry out certain projects at 2 3 this time and to finance their costs by borrowing moneys and 2 4 issuing negotiable bonds under chapter 262A in a total amount 2 5 provided in this Act, the remaining costs of the projects to 2 6 be financed by appropriations or by federal or other funds 2 7 lawfully available. 2 8 2. APPROVAL – LIMITS. 2 9 a. The proposed five-year building program submitted by 2 10 the state board of regents for each institution of higher 2 11 learning under its jurisdiction is approved and no commitment 2 12 is implied or intended by approval to fund any portion of the 2 13 proposed five-year building program submitted by the state 2 14 board of regents beyond the portion that is financed and 2 15 approved by the Seventy-ninth General Assembly, First Session, 2 16 and the governor. 2 17 b. During the fiscal period that commences July 1, 2001, 2 18 and that ends June 30, 2003, the maximum amount of bonds which 2 19 the state board of regents expects to issue under chapter 2 20 262A, unless additional bonding is authorized, is set forth in 2 21 this Act, all or any part of which may be issued during the 2 22 fiscal year ending June 30, 2002, and if all of that amount is 2 23 not issued during that fiscal year, any remaining balance may 2 24 be issued during the fiscal year ending June 30, 2003, and 2 25 this plan of financing is approved. 2 26 3. PROJECTS. The state board of regents is authorized to 2 27 undertake, plan, construct, equip, and otherwise carry out the 2 28 following projects at the institutions of higher learning 2 29 under the jurisdiction of the board, and the general assembly 2 30 authorizes the state board of regents to borrow moneys and to 2 31 issue and sell negotiable revenue bonds in the manner provided 2 32 in sections 262A.5 and 262A.6 in order to pay all or any part 2 33 of the costs of carrying out the projects at the institutions 2 34 as follows: 2 35 a. Iowa state university of science and technology 3 1 Construction of a building for the college of business 3 2 project costs: 3 3 .................................................. $ 10,900,000 3 4 b. State university of Iowa 3 5 Construction of a building for the school of art and art 3 6 history project costs: 3 7 .................................................. $ 16,016,000 3 8 c. University of northern Iowa 3 9 Replacement of the steam distribution system, phase 1 3 10 project costs: 3 11 .................................................. $ 12,700,000 3 12 Total ............................................ $ 39,616,000 3 13 4. BOND AMOUNTS EXCEED COSTS. If the amount of bonds 3 14 issued under this section exceeds the actual costs of projects 3 15 approved in this section, the amount of the difference shall 3 16 be used to pay the principal and interest due on bonds issued 3 17 under chapter 262A. 3 18 5. CAPITALIZATION OF RESERVE FUNDS. The state board of 3 19 regents may capitalize the issuance costs and bond reserve 3 20 fund equal to eleven percent of each bond issue with respect 3 21 to bonds authorized pursuant to this section and may increase 3 22 the amount of the bonds issued under this section to that 3 23 extent. 3 24 DIVISION II 3 25 SUPPLEMENTAL PROVISIONS 3 26 Sec. 2. 2000 Iowa Acts, chapter 1225, section 15, is 3 27 amended to read as follows: 3 28 SEC. 15. There is appropriated from the rebuild Iowa 3 29 infrastructure fund to the state board of regents for the 3 30 fiscalperiodyear beginning July 1, 2000, and ending June 30, 3 3120032001, the following amounts, or so much thereof as is 3 32 necessary, to be used for the purposes designated: 3 33 1. For improvements to Gilman hall at Iowa state 3 34 university of science and technology, including the 3 35 replacement of the heating, ventilation, and air conditioning 4 1 system, replacement of the fume hood exhaust system, and the 4 2 construction of an addition to house mechanical equipment: 4 3 FY 2000-2001...................................... $ 8,500,000 4 4 FY 2001-2002...................................... $2,500,0004 5 FY 2002-2003...................................... $ 0 4 6 2. For continued renovation of the biological sciences 4 7 facility at the state university of Iowa: 4 8 FY 2000-2001...................................... $ 4,400,000 4 9FY 2001-2002...................................... $ 7,300,0004 10FY 2002-2003...................................... $ 3,000,0004 11 3. For construction of an addition to McCollum science 4 12 hall at the university of northern Iowa: 4 13 FY 2000-2001...................................... $ 2,700,000 4 14FY 2001-2002...................................... $ 5,800,0004 15FY 2002-2003...................................... $ 8,400,0004 16 4. For planning and design of a new business college 4 17 building at Iowa state university of science and technology, 4 18 notwithstanding section 8.57, subsection 5, paragraph "c": 4 19 FY 2000-2001...................................... $ 300,000 4 20 FY 2001-2002...................................... $ 0 4 21 FY 2002-2003...................................... $ 0 4 22 5. For improvements to or replacement of the water system 4 23 at the school for the deaf: 4 24 .................................................. $ 250,000 4 25 The state board of regents is authorized to enter into 4 26 contracts for the full cost of carrying out the projects 4 27 listed in subsections 1 through 3, for which appropriations 4 28 are made in those subsections. The state shall not be 4 29 obligated for costs associated with contracts identified in 4 30 this paragraph in excess of the funds appropriated by the 4 31 general assembly. 4 32 Sec. 3. BONDING AUTHORIZATION. 4 33 1. Notwithstanding the provisions of section 263A.3, for 4 34 the fiscal year beginning July 1, 2000, and ending June 30, 4 35 2001, the general assembly declares that the state board of 5 1 regents has met the general assembly's requirements regarding 5 2 the preparation and submission to the general assembly of the 5 3 proposed five-year building program for the fiscal period 5 4 beginning July 1, 2000, and ending June 30, 2005, for each 5 5 institution of higher learning under the jurisdiction of the 5 6 state board of regents, and the general assembly hereby 5 7 approves that five-year building program as submitted. The 5 8 general assembly finds that the projects contained in the 5 9 building program are deemed necessary for the proper 5 10 performance of the instructional, research, and service 5 11 functions of the institutions, pursuant to section 262A.4. 5 12 2. To further the educational objectives of the 5 13 institutions, the general assembly authorizes the state board 5 14 of regents to undertake, plan, construct, equip, and otherwise 5 15 carry out at the institutions of higher learning under the 5 16 jurisdiction of the board the following projects: 5 17 a. Iowa state university of science and technology 5 18 System upgrade of Gilman hall project costs: 5 19 .................................................. $ 2,500,000 5 20 b. State university of Iowa 5 21 Renovation of biological sciences buildings project costs: 5 22 .................................................. $ 10,300,000 5 23 c. University of northern Iowa 5 24 Addition to McCollum science hall project costs: 5 25 .................................................. $ 14,200,000 5 26 Total ............................................ $ 27,000,000 5 27 3. The general assembly authorizes the state board of 5 28 regents to borrow moneys and to issue and sell negotiable 5 29 revenue bonds in the manner provided in sections 262A.5 and 5 30 262A.6, in order to pay all or any part of the costs of 5 31 carrying out the projects. The negotiable revenue bonds shall 5 32 be payable solely from and secured by an irrevocable pledge of 5 33 a sufficient portion of the student fees and charges and 5 34 institutional income received by the particular institution. 5 35 4. The state board of regents may capitalize the issuance 6 1 costs and the bond reserve fund equal to eleven percent of 6 2 each bond issue with respect to bonds authorized pursuant to 6 3 this Act and may increase the amount of the bonds issued under 6 4 this Act to that extent. If the amount of bonds issued under 6 5 this Act exceeds the actual costs of projects approved in this 6 6 Act, the amount of the difference shall be used to pay the 6 7 principal and interest due on bonds issued under chapter 262A. 6 8 Sec. 4. The state board of regents is authorized to enter 6 9 into contracts for the full costs of carrying out the projects 6 10 listed in this division and for which appropriations are made 6 11 and bonding authorization provided pursuant to this division. 6 12 The state shall not be obligated for costs associated with 6 13 contracts identified in this division in excess of the funds 6 14 appropriated and bonds authorized by the general assembly. 6 15 Sec. 5. CONTINGENT EFFECTIVENESS. Section 2 of this Act 6 16 takes effect only upon the enactment, during the Seventy-ninth 6 17 General Assembly, First Regular Session, of bonding authority, 6 18 in lieu of appropriations struck pursuant to section 2, as set 6 19 forth and provided in section 3 of this Act. 6 20 Sec. 6. EFFECTIVE DATE. Division II of this Act, being 6 21 deemed of immediate importance, takes effect upon enactment, 6 22 subject to the provisions of section 5. 6 23 EXPLANATION 6 24 This bill authorizes the state board of regents to issue 6 25 bonds in the sum of $39,616,000 for a five-year building 6 26 program for the fiscal period beginning July 1, 2001, and 6 27 ending June 30, 2003. The bill amends chapter 1225 of the 6 28 2000 Iowa Acts to shorten the two-year fiscal period for which 6 29 the general assembly appropriated moneys for state board of 6 30 regents capital projects, to the fiscal year ending June 30, 6 31 2001, and to strike $27 million from the appropriation from 6 32 the rebuild Iowa infrastructure fund to the state board of 6 33 regents for capital projects. The provisions amending chapter 6 34 1225 of the 2000 Iowa Acts and providing bonding authority for 6 35 the fiscal year beginning July 1, 2000, take effect upon 7 1 enactment, but the enactment of the provision amending chapter 7 2 1225 is contingent upon the enactment of the bonding authority 7 3 provision in the sum of $27 million for capital projects. 7 4 LSB 1499XS 79 7 5 kh/cf/24
Text: SF00160 Text: SF00162 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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