General Assembly: 75 (1993 Regular GA) - Chapter 181 - Board of regents five-year building program


Published: 1993-05-20

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527 LAWS OF THE SEVENTY -FIFTH G.A., 1993 SESSION CH. 181

I am unable to approve the item designated as Section 87, in its entirety. This provision would direct agencies to consult with employees and to consider alternatives prior to privatizing state functions. These activities already occur as standard practice, therefore this language is unnecessary.

Finally, I want to express disappointment about the way in which the General Assembly funded critical capital needs in this bill. Section 30 makes a series of appropriations for capitals con- tingent on lottery funds exceeding a specified level. In reality, only the first item on the list is likely to receive funding. This practice by the legislature only raises false hopes that some capital needs will be met.

For the above reasons, I hereby respectfully disapprove these items in accordance with Amend- ment IV of the Amendments of 1968 to the Constitution of the State of Iowa. All other items in Senate File 425 are hereby approved as of this date.

Sincerely, TERRY E. BRANSTAD. Governor

CHAPTER 181 BOARD OF REGENTS FIVE-YEAR BUILDING PROGRAM

H.C.R. 24

A CONCURRENT RESOLUTION relating to the state board of regents five-year building program.

WHEREAS, pursuant to section 262A.3, the state board of regents prepared and within seven days after the convening of the Seventy-fifth General Assembly of the State of Iowa, First Session, submitted to the Seventy-fifth General Assembly, First Session, for approval the proposed five-year building program for each institution of higher learning under the juris- diction of the board, containing a list of the buildings and facilities which the board deems necessary to further the educational objectives of the institutions, together with an estimate of the cost of each of the buildings and facilities and an estimate of the maximum amount of revenue bonds which the board expects to issue under chapter 262A for the fiscal period begin- ning July 1, 1993, and ending June 30, 1995; and

WHEREAS, the projects contained in the capital improvement program are deemed neces- sary for the proper performance of the instructional, research, and service functions of the institutions; and

WHEREAS, section 262A.4 provides that the state board of regents, after authorization by a constitutional majority of each house of the general assembly and approval by the gover- nor, may undertake and carry out at the institutions of higher learning under the jurisdiction of the board any project as defined in chapter 262A; and

WHEREAS, chapter 262A authorizes the state board of regents to borrow money and to issue and sell negotiable revenue bonds to pay all or any part of the cost of carrying out projects at any institution payable solely from and secured by an irrevocable pledge of a sufficient por- tion of the student fees and charges and institutional income received by the particular insti- tution; and

WHEREAS, to further the educational objectives of the institutions, the state board of regents requests authorization to undertake and carry out certain projects at this time and to finance their costs by borrowing money and issuing negotiable bonds under chapter 262A in a total amount not to exceed $16,380,000, the remaining cost of the projects to be financed by appropriations or by federal or other funds lawfully available; NOW THEREFORE,

CH. 181 LAWS OF THE SEVENTY -FIFTH G.A., 1993 SESSION 528

BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES, THE SENATE CONCUR- RING, That the proposed five-year building program submitted by the state board of regents for each institution of higher learning under its jurisdiction is approved; and

BE IT FURTHER RESOLVED, That no commitment is implied or intended by approval to fund any portion of the proposed five-year building program submitted by the state board of regents beyond the portion that is financed and approved by the Seventy-fifth General Assem- bly, First Session, and the governor; and

BE IT FURTHER RESOLVED, That during the fiscal period which commences July 1, 1993, and which ends June 30, 1995, the maximum amount of bonds which the state board of regents expects to issue under chapter 262A, unless additional bonding is authorized, is $16,380,000, all or any part of which may be issued during the fiscal year ending June 30, 1994, and if all of that amount is not issued during that fiscal year, any remaining balance may be issued dur- ing the fiscal year ending June 30, 1995, and this plan of financing is approved; and

BE IT FURTHER RESOLVED, That the state board of regents is authorized to undertake, plan, construct, equip, and otherwise carry out the following projects at the institutions of higher learning under the jurisdiction of the board, and the general assembly authorizes the state board of regents to borrow money and to issue and sell negotiable revenue bonds in the manner provided in sections 262A.5 and 262A.6 in order to pay all or any part of the costs of carrying out the projects, and the cost of issuance of bonds, at any institution in a total amount not to exceed $16,380,000:

State University of Iowa Pharmacy building addition construction Cost of issuance of bonds

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ University of Northern Iowa Library addition construction Cost of issuance of bonds

8,939,000

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 7,441,000 Total $ 16,380,000 BE IT FURTHER RESOLVED, That if the amount of bonds issued under this Resolution

exceeds the actual costs of projects approved in this Resolution, the amount of the difference shall be used to pay the principal and interest due on bonds issued under chapter 262A; and

BE IT FURTHER RESOLVED, That the state board of regents may capitalize the bond reserve fund with respect to the State University of Iowa and the University of Northern Iowa bonds authorized pursuant to this Resolution. However, this authorization for capitalization shall not authorize the state board of regents to increase the amount of bonds issued under this Resolution.

Approved May 20, 1993