April 11, 2011(Key vote)
Title: Authorizing New Bonds
Vote Smart's Synopsis:
Vote to pass a bill that authorizes the issuance of general obligation bonds and appropriates funds for certain capital projects.
Authorizes the Board of Examiners to issue and sell general obligation bonds if the state's actual revenue exceeds the estimated revenue projection for 2011 by more than $35 million, whereas existing law required actual revenue to exceed the estimate by only $2 million (Sec. 1).
Increases the limit up to which the Board of Examiners may issue and sell general obligation bonds from $89.9 million to $97.8 million (Sec. 5).
Appropriates $7.9 million from general obligation bond proceeds for an auto tech center at Montana State University-Northern (Sec. 3).
Appropriates additional funds as follows (Sec. 5):
$9 million in federal special revenue funds to Southwest Montana Veteran's Home in Silver Bow County;
$0.5 million in federal special revenue funds, auxiliary fund donations, grants, and higher education funds to Montana State University-Billings for a science and industrial technology building; and
$3.5 million in federal special revenue funds, auxiliary fund donations, grants, and higher education funds to the University of Montana-Missoula College of Technology.