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MI HCR0067
Concurrent Resolution
Status
11/29/2012
Primary Sponsor
Darwin Booher
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AI Summary
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Total Facility Cost for the Ferris State University College of Pharmacy shall not exceed $8,800,000, with $6,599,800 financed through State Building Authority bonds, $200 from State General Fund, and $2,200,000 from the Educational Institution.
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Legislature approves conveyance of property owned by Ferris State University to the State Building Authority for the construction and leasing of the College of Pharmacy facility.
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Annual "True Rental" payments for the facility shall range between $453,000 and $592,000, subject to certification by an appraiser and approval by the State Administrative Board and Authority.
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Lease is approved for execution by the Governor and Secretary of State on behalf of the State, with the Legislature committing to appropriate sufficient annual funds to pay lease obligations.
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Resolution complies with MCL 830.415 and 830.417 requirements for legislative approval of property conveyances and state leases involving educational institutions and the State Building Authority.
Legislative Description
A concurrent resolution approving the conveyance of property to the State Building Authority and approving a lease among the State of Michigan, the State Building Authority, and Ferris State University relative to the Ferris State University College of Pharmacy.
State Building Authority
Last Action
Roll Call # 867 Yeas 38 Nays 0 Excused 0 Not Voting 0
12/11/2012