Bill Text: MI HCR0067 | 2011-2012 | 96th Legislature | Engrossed
Bill Title: 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.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Passed) 2012-12-11 - Roll Call # 867 Yeas 38 Nays 0 Excused 0 Not Voting 0 [HCR0067 Detail]
Download: Michigan-2011-HCR0067-Engrossed.html
HCR67, As Adopted by Senate, December 11, 2012
THIS RESOLUTION IS OFFERED TO COMPLY WITH MCL 830.415 AND 830.417 AND REQUIRES A RECORD ROLL CALL VOTE.
Rep. Potvin offered the following concurrent resolution:
House Concurrent Resolution No. 67.
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.
Whereas, Section 5 of 1964 PA 183, as amended, being MCL 830.415, requires the approval of the Board of Trustees of Ferris State University (the "Educational Institution"), the State Administrative Board, and the Michigan Legislature by concurrent resolution concurred in by a majority of the members elected to and serving in each house, with the votes and names of the members voting thereon entered in the journal, before land owned by the Educational Institution may be conveyed to the State Building Authority (the "Authority"); and
Whereas, The site for the Ferris State University College of Pharmacy (the "Facility") is currently owned by the Educational Institution; and
Whereas, Section 7 of 1964 PA 183, as amended, being MCL 830.417, requires the approval of the State Administrative Board and the Michigan Legislature by concurrent resolution concurred in by a majority of the members elected to and serving in each house, with the votes and names of the members voting thereon entered in the journal, before the State of Michigan (the "State") may enter into a lease with the Authority upon a showing of a public purpose; and
Whereas, Providing additional space to be used by the Educational Institution pursuant to the lease for the Facility is a recognized public purpose; and
Whereas, A lease among the Authority, the State, and the Educational Institution has been prepared providing for the leasing of the Facility by the Authority to the State and the Educational Institution (the "Lease"); and
Whereas, The Executive Director of the Authority has furnished the Joint Capital Outlay Subcommittee of the Legislature with information and documents relative to the Lease; now, therefore, be it
Resolved by the House of Representatives (the Senate concurring), That the Total Facility Cost for the Ferris State University College of Pharmacy shall not exceed $8,800,000 (the Authority share is $6,599,800, the State General Fund/General Purpose share is $200, and the Educational Institution share is $2,200,000), plus interest charges on monies advanced by the State to meet the construction cash flow requirements of the Facility, if any, of which not more than $6,599,800, plus interest charges on monies advanced by the State to meet the construction cash flow requirements of the Facility, if any, shall be financed from bonds issued by the Authority, exclusive of amounts necessary for reserves, interest, or other nonconstruction costs; and be it further
Resolved, That the Legislature hereby approves the necessary conveyances of property to the Authority as more particularly described in the Lease and attachments thereto; and be it further
Resolved, That the Legislature hereby approves the Authority acquiring the Facility and leasing it to the State and the Educational Institution and hereby determines that the leasing of the Facility from the Authority is for a public purpose as authorized by 1964 PA 183, as amended; and be it further
Resolved, That the annual amounts of "True Rental" for the Facility shall be within or below the range of $453,000 and $592,000, as shall reflect variations that may occur in the components upon which the appraisal of True Rental was based, which amounts shall be certified by the appraiser and thereafter approved by the State Administrative Board and the Authority as authorized by 1964 PA 183, as amended; and be it further
Resolved, That the Lease is hereby approved by this concurrent resolution, and the Governor and the Secretary of State are authorized and directed to execute the Lease for and on behalf of the State; and be it further
Resolved, That, by hereby approving the Lease among the State, the Educational Institution, and the Authority, the Legislature agrees to appropriate annually sufficient amounts to pay the rent as obligated pursuant to the Lease; and be it further
Resolved, That copies of this concurrent resolution be transmitted to the Governor, the Secretary of State, the Authority, the Board of Trustees of Ferris State University, and the State Budget Director.
