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.