To be responsible stewards of the students' resources, we think this is a careful approach to preserving and enhancing the investment in campus infrastructure. All renovation or new construction will be financed from student tuition and federal or private revenues. For many years the policy of this state has been to fund university academic buildings with money from tuition paid by the students. A percentage of tuition is placed in the Higher Education Facilities Fund to be used for regular maintenance and repair. That money is also used to finance major renovations or alterations to academic buildings.
Legislative approval is necessary to spend that money, however.
On the last day of the 2001 the Legislature suspended its rules to introduce and pass a bill authorizing the Governor to accept transfer of the Homestake Mine in Lead. The impact of the laboratory will be felt throughout South Dakota in public higher education and in the economic development opportunities presented by such a facility. Perry added that the act shows vision. The Governor and the Legislature have made a long-term investment in South Dakota. Finally, on the last day of the legislative session the Legislature failed to override the Governor's veto of the bill to establish the Regents Scholars Scholarship.