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ND SB2196
Bill
Status
4/10/2017
Primary Sponsor
Lonnie Laffen
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AI Summary
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State board of higher education authorized to issue $22,500,000 in self-liquidating, tax-exempt revenue bonds for Valley City State University's integrated carbon plant project, effective from the bill's enactment through June 30, 2019.
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Bonds are not a general obligation of North Dakota; unexpended proceeds must be placed in a sinking fund for debt retirement.
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$22,500,000 appropriated from bond proceeds and other special funds for purchasing property and constructing the integrated carbon plant, available through June 30, 2019.
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State board of higher education required to report on project status to the legislative budget section during 2017-18 interim and to appropriations committees of the sixty-sixth legislative assembly.
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Bill declared an emergency measure; passed Senate 47-0 and House 86-6.
Legislative Description
AN ACT to authorize this issuance of revenue bonds for the purchase of land and construction of an integrated carbon plant at Valley City state university; to provide an appropriation; to provide for a report to the budget section; to provide for a report to the sixty-sixth legislative assembly; and to declare an emergency.
Last Action
Signed by Governor 04/07
4/10/2017