SECOND REGULAR SESSION
SENATE BILL NO. 1221
92ND GENERAL ASSEMBLY
INTRODUCED BY SENATOR KINDER.
Read 1st time February 4, 2004, and ordered printed.
TERRY L. SPIELER, Secretary.
4494S.01I
AN ACT
To amend chapter 360, RSMo, by adding thereto two new sections relating to the University of Missouri system.
Section A. Chapter 360, RSMo, is amended by adding thereto two new sections, to be known as sections 360.200 and 1, to read as follows:
360.200. 1. The general assembly approves, pursuant to section 21.527, RSMo, the following projects for research, academic and related facilities to be owned by the Curators of the University of Missouri to be funded in part by revenue bonds to be paid out of future appropriations to be made by the general assembly. The projects, the campus of said state institution of higher education, the amount for each project to be paid from the revenue bonds and the total project cost, including furnishings and equipment, are to be as follows:
Project Campus Amount Project
from Bonds Cost
Benton-Stadler Renovation St. Louis $23,913,000 $23,913,000
Mechanical Engineering Rolla $18,617,000 $23,350,000
Addition/Renovation
Engineering Building Columbia $20,910,000 $20,910,000
East Renovation
Health Sciences Building Kansas City $42,800,000 $53,500,000
Phase 2
Health Sciences Building Kansas City $ 9,200,000 $11,500,000
Phase 1 Space Completion
Health Sciences Research Columbia $75,000,000 $175,000,000
2. In addition to the powers granted the authority pursuant to the provisions of sections 360.010 to 360.140, the health and educational facilities authority of the state of Missouri may issue bonds not to exceed one hundred ninety million four hundred forty thousand dollars in principal amount to fund a portion of the cost of such projects and related facilities. The bonds required pursuant to this section shall be subject to the provisions of sections 360.010 to 360.140 as if they were issued pursuant to the authority's bonding power pursuant to section 360.047. The remainder of project costs and costs of related projects and facilities to be funded by contributions and other funds to be provided by such state institution of higher education.
3. It is the present intent of the general assembly to appropriate funds sufficient to pay debt service on such revenue bonds beginning in fiscal year 2008 of the state of Missouri. The general assembly is not bound to make any such appropriations and the general assembly could by further legislative action authorize such payments prior to such fiscal year.
4. The office of administration and such other departments, offices and agencies of the state of Missouri as the office of administration may deem necessary or appropriate shall assist the state institution of higher education in the issuance of such revenue bonds for the projects and execute and deliver documents and certificates related to such revenue bonds.
Section 1. 1. The Curators of the University of Missouri, a public corporation of the state of Missouri is hereby authorized and empowered to enter into a long-term ground lease for the purpose of the construction of a hotel/convention center complex in a tract of land owned by the Curators of the University of Missouri, in the City of Columbia, Boone County, Missouri more particularly described as follows:
A tract of land being part of the southeast quarter of Section 13, Township 48 North, Range 13 West; part of the southwest quarter of Section 18, Township 48 North, Range 12 West and part of the northwest quarter of Section 19, Township 48 North, Range 12 West in Columbia, Boone County, Missouri.
Starting at the southeast corner of Section 13, Township 48 North, Range 13 West; thence N 1° 15'E, along the range line, 104.73 feet to the north right-of-way of Stadium Boulevard (State Route 740), the point of beginning.
From the point of beginning and following said right-of-way N 88° 18'W 47.10 feet; thence N 88° 54'W 209.92 feet; thence North 44° 10'W 85.00 feet; thence 89° 06'W 15.50 feet to the east line of Monk Drive; thence N 1° 15'E, along said line 737.00 feet to the south line of Hospital Drive; thence S 89° 05'E, along said line 140 feet; thence northeasterly, continuing along said line 860 feet; thence easterly, continuing along the south line of Hospital Drive 440 feet to the west line of College Avenue (State Route 763); thence south, along said line 300 feet; thence southwesterly, continuing along the west line of College Avenue being a curve to the right 1130 feet to the north line of Stadium Boulevard; thence northwesterly, along said line being a curve to the left 750 feet to the beginning.
2. The Curators of the University of Missouri shall issue a "Request for Proposals" (RFP) for the construction of a hotel/convention center complex on said property and use the proceeds derived from the lease of a portion of the above described property to the successful respondent toward the construction of a Performing Arts Center to be located on a portion of the described real property for the University of Missouri-Columbia. The RFP shall include the following:
(1) The University will not own or operate the hotel/convention center complex;
(2) The University shall lease the real property for a term not to exceed fifty years;
(3) The University shall encourage as many interested parties as possible to respond to the RFP; and
(4) The University shall inform all parties that the successful respondent shall pay all applicable taxes, including but not limited to personal property and real property taxes as assessed by governmental entities.
3. The Curators of the University of Missouri shall set the terms and conditions for the lease of the above described property, as they deem reasonable, insofar as they are consistent with the provisions of this section.