Bill No.: SF0146                  Drafter:  DKG

 

LSO No.:  09LSO-0627              Effective Date:  3/2/2009

 

Enrolled Act No.:  SEA0029

 

Chapter No.:       112

 

Prime Sponsor:     Senator Nicholas

 

Catch Title:       NCAR supercomputer funding.

 

Subject:  Funding for the national center for atmospheric research supercomputing center.

 

Summary/Major Elements:

 

·         In the 2007 session the legislature authorized the University to enter into a memorandum of understanding and contract relating to the construction of a supercomputing center to be built with industrial development revenue bonds issued by Laramie County, with the national center for atmospheric research paying rent to repay the bonds.  The state treasurer had independent statutory authority to buy economic development revenue bonds, which would include these bonds.

·         This bill authorizes the University board of trustees to buy the facility housing the supercomputer by pledging the University's federal mineral royalty stream to fund the bonds.  The board is also authorized to issue its own revenue bonds for the same purpose.

·         Both authorizations are subject to specified conditions including:

·         That all final agreements have been entered into for construction and operation of the center;

·         That the national science foundation provide a year's advance notice if it ceases to fund the center after July 1, 2019 (it will only commit to fund the center for ten years at this time);

·         That the national science foundation transfer 100% of its ownership of the facility to the University.

 

Comments:

Report Required – the University is required to report any notification from the national center for atmospheric research to the governor, state treasurer and minerals committee.