260C.57 AUTHORIZATION -- CONTRACTS -- TITLE.
Subject to and in accordance with the provisions of this division,
the board of directors of each community college is hereby authorized
to undertake and carry out any project at a community college under
the board's control and to operate, control, maintain, and manage
student residence halls and dormitories, including dining and other
incidental facilities, and additions to such buildings at each of
said institutions. All contracts for the construction,
reconstruction, completion, equipment, improvement, repair or
remodeling of any buildings, additions or facilities shall be let in
accordance with the provisions of section 260C.19. The title to all
real estate acquired under the provisions of this division and the
improvements erected on the real estate shall be taken and held in
the name of the merged area. The board is authorized to rent the
rooms in such residence halls and dormitories to the students,
officers, guests and employees of the institutions at such rates,
fees or rentals as will provide a reasonable return upon the
investment, but which will in any event produce net rents, profits
and income sufficient to insure the payment of the principal of and
interest on all bonds or notes issued to pay any part of the cost of
any project and refunding bonds or notes issued pursuant to the
provisions of this division and to insure that no property tax
revenues will be needed to retire the bonds or notes.
260C.57 AUTHORIZATION -- CONTRACTS -- TITLE.
Subject to and in accordance with the provisions of this division,
the board of directors of each community college is hereby authorized
to undertake and carry out any project at a community college under
the board's control and to operate, control, maintain, and manage
student residence halls and dormitories, including dining and other
incidental facilities, and additions to such buildings at each of
said institutions. All contracts for the construction,
reconstruction, completion, equipment, improvement, repair or
remodeling of any buildings, additions or facilities shall be let in
accordance with the provisions of section 260C.19. The title to all
real estate acquired under the provisions of this division and the
improvements erected on the real estate shall be taken and held in
the name of the merged area. The board is authorized to rent the
rooms in such residence halls and dormitories to the students,
officers, guests and employees of the institutions at such rates,
fees or rentals as will provide a reasonable return upon the
investment, but which will in any event produce net rents, profits
and income sufficient to insure the payment of the principal of and
interest on all bonds or notes issued to pay any part of the cost of
any project and refunding bonds or notes issued pursuant to the
provisions of this division and to insure that no property tax
revenues will be needed to retire the bonds or notes.
260C.57 AUTHORIZATION -- CONTRACTS -- TITLE.
Subject to and in accordance with the provisions of this division,
the board of directors of each community college is hereby authorized
to undertake and carry out any project at a community college under
the board's control and to operate, control, maintain, and manage
student residence halls and dormitories, including dining and other
incidental facilities, and additions to such buildings at each of
said institutions. All contracts for the construction,
reconstruction, completion, equipment, improvement, repair or
remodeling of any buildings, additions or facilities shall be let in
accordance with the provisions of section 260C.19. The title to all
real estate acquired under the provisions of this division and the
improvements erected on the real estate shall be taken and held in
the name of the merged area. The board is authorized to rent the
rooms in such residence halls and dormitories to the students,
officers, guests and employees of the institutions at such rates,
fees or rentals as will provide a reasonable return upon the
investment, but which will in any event produce net rents, profits
and income sufficient to insure the payment of the principal of and
interest on all bonds or notes issued to pay any part of the cost of
any project and refunding bonds or notes issued pursuant to the
provisions of this division and to insure that no property tax
revenues will be needed to retire the bonds or notes.
