LCO \\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102-R01- HB.docx 1 of 17 General Assembly Substitute Bill No. 6102 January Session, 2021 AN ACT CONCERNING A SPECIAL TAXING DISTRICT WITHIN THE CITY OF WEST HAVEN. Be it enacted by the Senate and House of Representatives in General Assembly convened: Section 1. (Effective from passage) (a) For the purposes of this section: 1 (1) "District" means that certain real property, situated in the City of 2 West Haven, County of New Haven and the State of Connecticut, the 3 West Haven Special Improvement District, a body politic and corporate, 4 consisting of the area bounded and described as follows: Beginning at a 5 point located on the southerly side of Elm Street and at the northeasterly 6 corner of lands now or formerly of SZS Enterprises, LLC, said point 7 being the northwesterly corner of the parcel described in this section; 8 thence running N64°23'05"E a distance of 752.16 feet along the southerly 9 street line of Elm Street to the mean high water line of New Haven 10 Harbor; thence running in a southerly direction a distance of 1,951.3 feet 11 along the mean high water line of New Haven Harbor to the 12 northeasterly corner of lands now or formerly of Bayview 13 Condominiums; thence running S66°27'52"W a distance of 263.4 feet 14 along the northerly line of lands now or formerly of Bayview 15 Condominiums to the easterly street line of Bayview Place; thence 16 running S66°27'52"W a distance of 50 feet crossing Bayview Place to the 17 westerly street line of Bayview Place; thence running S23°32'08"E a 18 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 2 of 17 distance of 104.6 feet along the westerly street line of Bayview Place to 19 lands now or formerly of Christopher W. and Bonnie A. Jones; thence 20 running S67°06'19"W a distance of 143 feet along the northerly line of 21 lands now or formerly of Christopher W. and Bonnie A. Jones to a point; 22 thence running S23°32'08"E a distance of 5.32 feet to lands now or 23 formerly of Brittany M. Shaw; thence running S66°05'44"W a distance of 24 144.19 feet to the easterly street line of First Avenue; thence running 25 N24°14'02"W a distance of 280.93 feet along the easterly street line of 26 First Avenue to a point; thence running N34°18'02"W a distance of 27 1,293.57 feet along the easterly street line of First Avenue to the 28 southerly line of lands now or formerly of SZS Enterprises, LLC; thence 29 running N36°06'22"W a distance of 100 feet along lands now or formerly 30 of SZS Enterprises, LLC, to the point and place of the beginning. The 31 parcel described in this section contains 1,142,714 square feet or 26.233 32 acres of land. The project boundaries shall also include any off-site 33 locations mandated by any permitting agency for improvements 34 associated with the project's traffic management requirements. 35 (2) "Voter" means (A) any person who is an elector of the district, (B) 36 any citizen of the United States of the age of eighteen years or more who, 37 jointly or severally, is liable to the district for taxes assessed against such 38 citizen on an assessment of not less than one thousand dollars on the 39 last-completed grand list of such district, as the case may be, or who 40 would be so liable if not entitled to an exemption under subdivision (17), 41 (19), (22), (23) or (26) of section 12-81 of the general statutes, or (C) any 42 holder of record of an interest in real property within the district. 43 (3) "Holder of record of an interest in real property" means an owner 44 of a fee simple interest in such property. 45 (b) (1) Upon the petition of fifteen or more persons eligible to vote in 46 the city of West Haven, specifying the district for any or all of the 47 purposes set forth in this section, the mayor of such city shall call a 48 meeting of the voters to act upon such petition, which meeting shall be 49 held at such place within such city and such hour as the mayor 50 designates, not later than thirty days after such petition has been 51 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 3 of 17 received by the mayor. Such meeting shall be called by publication of a 52 written notice of the same, signed by the mayor, at least fourteen days 53 before the time fixed for such meeting in two successive issues of a 54 newspaper published or circulated in such city. Not later than twenty-55 four hours before such meeting, (A) two hundred or more voters or ten 56 per cent of the total number of voters of such proposed district, 57 whichever is less, may petition the mayor, in writing, for a referendum 58 of the voters of such proposed district, or (B) the mayor in his or her 59 discretion may order a referendum of the voters of such proposed 60 district, on the sole question of whether the proposed district should be 61 established. Any such referendum shall be held not less than seven or 62 more than fourteen days after the receipt of such petition or the date of 63 such order, on a day to be set by the mayor for a vote by paper ballots 64 or by a "yes" or "no" vote on the voting machines, during the hours 65 between twelve o'clock noon and eight o'clock p.m.; except that such 66 city may, by vote of its city council, provide for an earlier hour for 67 opening the polls but not earlier than six o'clock a.m., notwithstanding 68 the provisions of any special act. If voters representing at least two-69 thirds of the assessments of holders of record within the proposed 70 district cast votes in such referendum in favor of establishing the 71 proposed district, the mayor shall reconvene such meeting not later than 72 seven days after the day on which the referendum is held. Upon 73 approval of the petition for the proposed district by voters representing 74 at least two-thirds of the assessments of holders of record within the 75 proposed district present at such meeting, or if a referendum is held, 76 upon the reconvening of such meeting after the referendum, the voters 77 may name the district and, upon the vote of voters representing a 78 majority of assessments of holders of record within the proposed 79 district, choose necessary officers therefor to hold office until the first 80 annual meeting thereof; and the district shall, upon the filing of the first 81 report filed in the manner provided in subsection (c) of section 7-325 of 82 the general statutes, thereupon be a body corporate and politic and have 83 the powers provided in sections 7-324 to 7-329, inclusive, of the general 84 statutes, not inconsistent with the general statutes or this section, in 85 relation to the objects for which it was established, that are necessary for 86 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 4 of 17 the accomplishment of such objects, including the power to lay and 87 collect taxes. The clerk of such district shall cause its name and a 88 description of its territorial limits and of any additions that may be made 89 thereto to be recorded in, and a caveat be placed upon, the land records 90 of the city of West Haven. 91 (2) At the meeting called for the purpose of establishing the district 92 as provided in subdivision (1) of this subsection, the voters may 93 establish the district for any or all of the following purposes: To 94 extinguish fires, to light streets, to plant and care for shade and 95 ornamental trees, to plan, lay out, acquire, construct, maintain and 96 finance roads, sidewalks, crosswalks, drains, sewer infrastructure, 97 parking facilities, open space, bulkhead repairs, environmental 98 remediation and other public and private infrastructure improvements, 99 including related site preparation and demolition costs, to acquire, 100 construct, maintain and regulate the use of recreational facilities, parks, 101 playgrounds and public artwork, to plan, lay out, acquire, construct, 102 reconstruct, repair, maintain, supervise and manage a flood or erosion 103 control system, to plan, lay out, acquire, construct, maintain, operate, 104 finance and regulate the use of a community water system, all as 105 referred to in this section as the "improvements". The district may 106 acquire, operate, maintain, repair and replace the improvements and 107 may contract with a town, city, borough or other district for carrying out 108 any of the purposes or the purchase or sale of any of the improvements 109 for which such district was established. Any transfer to the district of 110 real property and the improvements related to such real property shall 111 be deemed development for municipal purposes and shall be expressly 112 excluded from the purposes for which a subdivision, as defined in 113 section 8-18 of the general statutes, may be made. 114 (3) At the meeting called for the purpose of establishing the district 115 as provided in subdivision (1) of this subsection, the voters shall fix the 116 date of the annual meeting of the voters for the election of district 117 officers and the transaction of such other business as may properly come 118 before such annual meeting. At such organizational meeting of the 119 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 5 of 17 district, the voters shall elect five directors and four officers as follows: 120 A president, a vice-president, a clerk and a treasurer; provided, upon its 121 organization and at all times thereafter, one director may be appointed 122 by the mayor of the city of West Haven. The directors not appointed by 123 the mayor shall be elected to serve for terms of one, two, three and four 124 years, respectively, and thereafter at the annual meeting such directors, 125 as each term ends, shall be elected to serve for a term of four years. Not 126 less than three members of the board of directors shall be residents of 127 the state of Connecticut. Subject to the provisions of subdivision (4) of 128 this subsection, not fewer than fifteen voters of the district shall 129 constitute a quorum for the transaction of business at such 130 organizational meeting of the district; and if fifteen voters are not 131 present at such meeting, the mayor may adjourn such meeting from 132 time to time, until at least fifteen voters are present. Special meetings of 133 the district may be called on the application of ten per cent of the total 134 number of voters of such district or twenty of the voters of such district, 135 whichever is less, or by the president or any three directors upon giving 136 notice as provided in this section. Any special meeting called on the 137 application of the voters shall be held not later than twenty-one days 138 after receiving such application. Notice of the holding of the annual 139 meeting and all special meetings shall be given by publication of a notice 140 of such meetings in a newspaper having a general circulation in such 141 district at least ten days before the day of such meetings, signed by the 142 president or any three directors, which notice shall designate the time 143 and place of such meetings and the business to be transacted at such 144 meetings. Two hundred or more persons or ten per cent of the total 145 number of voters of such district, whichever is less, may petition the 146 clerk of such district, in writing, at least twenty-four hours prior to any 147 such meeting, requesting that any item or items on the call of such 148 meeting be submitted to the voters not less than seven or more than 149 fourteen days thereafter, on a day to be set by the district meeting or, if 150 the district meeting does not set a date, by the board of directors, or a 151 vote by paper ballots or by a "yes" or "no" vote on the voting machines, 152 during the hours between twelve o'clock noon and eight o'clock p.m., 153 except that any district may, by vote of its board of directors, provide 154 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 6 of 17 for an earlier hour for opening the polls but not earlier than six o'clock 155 a.m. The paper ballots or voting machine ballot labels, as the case may 156 be, shall be provided by the clerk. When such a petition has been filed 157 with the clerk, the president, after completion of other business and after 158 reasonable discussion, shall adjourn such meeting and order such vote 159 on such item or items in accordance with the petition; and any item so 160 voted may be rescinded in the same manner. The clerk shall phrase such 161 item or items in a form suitable for printing on such paper ballots or 162 ballot labels. Subject to the provisions of subdivision (4) of this 163 subsection, not fewer than fifteen voters of the district shall constitute a 164 quorum for the transaction of business at any meeting of the district; 165 and if fifteen voters are not present at such meeting, the president of the 166 district or, in such president's absence, the vice-president, may adjourn 167 such meeting from time to time, until at least fifteen voters are present; 168 and all meetings of the district where a quorum is present may be 169 adjourned from time to time by a vote of a majority of the voters voting 170 on the question. At any annual or special meeting, the voters may, by a 171 majority vote of those present, discontinue any purposes for which the 172 district is established or undertake any additional purpose or purposes 173 enumerated in subdivision (2) of this subsection. 174 (4) (A) A quorum for the transaction of business at the meeting called 175 for the purpose of establishing the district, as provided in subdivision 176 (1) of this subsection, shall be either fifteen voters of such district or a 177 majority of the holders of record of interests in real property within such 178 district, as long as the assessments of such holders of record constitute 179 more than one-half of the total of assessments for all interests in real 180 property within such district. If fifteen voters or a majority of the holders 181 of record of interests in real property within such district are not present 182 at such meeting or the assessments of such holders of record constitute 183 less than one-half of the total of assessments for all interests in real 184 property within such district, the mayor may adjourn such meeting, 185 from time to time, until at least fifteen voters or a majority of the holders 186 of record of interests in real property within such district are present 187 and the assessments of such holders of record constitute more than one-188 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 7 of 17 half of the total of assessments for all interests in real property within 189 such district. 190 (B) For the transaction of business at any meeting of the district other 191 than a meeting described in subparagraph (A) of this subdivision, a 192 quorum shall be either fifteen voters of the district or a majority of the 193 holders of record of interests in real property within such district, as 194 long as the assessments for such holders of record constitute more than 195 one-half of the total of assessments for all interests in real property 196 within such district. At any meeting of the district other than a meeting 197 described in subparagraph (A) of this subdivision, each holder of record 198 of an interest in real property shall be entitled to cast one vote for each 199 interest in real property that it owns within the district, except as 200 provided in subparagraph (B) of subdivision (1) of subsection (d) of this 201 section. All actions, resolutions and proceedings at such meeting at 202 which a quorum is present shall require a majority vote, each, of (i) the 203 voters of the district present and voting, and (ii) the holders of record of 204 interests in real property within the district representing at least one-205 half of the assessments of all holders of record of interests in real 206 property within the district, present and voting; provided, the 207 provisions of this sentence may be amended at an annual or special 208 meeting of the district at which a quorum is present only upon a 209 majority vote, each, of (I) all of the voters of the district, and (II) all of 210 the holders of record of interests in real property within the district 211 representing at least two-thirds of the assessments of all holders of 212 record of interests in real property within the district. For the purpose 213 of determining a holder of record of an interest in real property within 214 the district as used in this subdivision, such term shall mean an owner 215 of a fee simple interest in such real property. If fifteen voters or a 216 majority of the holders of record of interests in real property within such 217 district are not present at such meeting or the assessments of such 218 holders of record constitute less than one-half of the total assessments 219 for all interests in real property within such district, the president of the 220 district, or in such president's absence, the vice-president, may adjourn 221 such meeting, from time to time, until at least fifteen voters or a majority 222 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 8 of 17 of the holders of record of interests in real property within such district 223 are present and the assessments of such holders of record constitute 224 more than one-half of the total of assessments for all interests in real 225 property within such district. 226 (5) In any case in which an action for a vote by the voters of the district 227 is to be initiated by the petition of such voters, in addition to such other 228 requirements as the general statutes or any special act may impose, such 229 petition shall be on a form prescribed or approved by the clerk of such 230 district, and each page of such petition shall contain a statement, signed 231 under penalty of false statement, by the person who circulated such 232 page, setting forth such circulator's name and address, and stating that 233 each person whose name appears on such page signed such page in 234 person in the presence of such circulator, that the circulator either knows 235 each such signer or that the signer satisfactorily identified himself to the 236 circulator and that all the signatures on such page were obtained not 237 earlier than six months prior to the filing of such petition. Any page of 238 a petition that does not contain such a statement by the circulator shall 239 be invalid. Any circulator who makes a false statement in the statement 240 required to be contained on each page of such petition shall be subject 241 to the penalty provided for false statement. No petition shall be valid 242 for any action for a vote by the voters at any regular or special district 243 meeting unless such petition was circulated by a voter eligible to vote in 244 such district. 245 (c) Whenever the officers of such district vote to terminate its 246 corporate existence and whenever a petition signed by ten per cent of 247 the total voters of such district or twenty of the voters of such district, 248 whichever is less, applying for a special meeting to vote on the 249 termination of the district is received by the clerk, the clerk shall call a 250 special meeting of the voters of such district, the notice of which shall 251 be signed by the officers thereof, by advertising such notice in the same 252 manner as provided in section 7-325 of the general statutes. Not later 253 than twenty-four hours before any such meeting, two hundred or more 254 voters or ten per cent of the total number of voters, whichever is less, 255 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 9 of 17 may petition the clerk of the district, in writing, that a referendum on 256 the question of whether the district should be terminated be held in the 257 manner provided in section 7-327 of the general statutes. If, at such 258 meeting, a two-thirds majority of the voters present vote to terminate 259 the corporate existence of the district, or, if a referendum is held, two-260 thirds of the voters casting votes in such referendum vote to terminate 261 the corporate existence of the district, the officers shall proceed to 262 terminate the affairs of such district. The district shall pay all 263 outstanding indebtedness and turn over the balance of the assets of such 264 district to the city in which the district is located, if the legislative body 265 of the city authorizes such action. No district shall be terminated under 266 this section until all of its outstanding indebtedness is paid unless the 267 legislative body of the city in which the district is located agrees in 268 writing to assume such indebtedness. On completion of the duties of the 269 officers of such district, the clerk shall cause a certificate of the vote of 270 such meeting to be recorded in the land records of the city in which the 271 district is located and the clerk shall notify the Secretary of the Office of 272 Policy and Management. 273 (d) (1) (A) Except as provided in subparagraph (B) of this subdivision, 274 for the purposes of voting at meetings held by such district, any tenant 275 in common of any interest in real property shall have a vote equal to the 276 fraction of such tenant in common's ownership of such interest. Any 277 joint tenant of any interest in real property shall vote as if each such 278 tenant owned an equal fractional share of such real property. A 279 corporation shall have its vote cast by the chief executive officer of such 280 corporation, or such officer's designee. Any entity that is not a 281 corporation shall have its vote cast by a person authorized by such entity 282 to cast its vote. 283 (B) The district shall not have a vote for any interest in real property 284 within the district owned by such district. 285 (2) No holder of record of an interest in real property within the 286 district shall be precluded from participating in any district meeting or 287 referendum because of the form of entity that holds such interest, 288 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 10 of 17 whether such holder of record is (A) a corporation, partnership, 289 unincorporated association, trustee, fiduciary, guardian, conservator or 290 other form of entity, or any combination thereof, or (B) an individual 291 who holds interests jointly or in common with another individual or 292 individuals, or with any one or more of the entities listed in 293 subparagraph (A) of this subdivision. 294 (e) Notwithstanding any provision of the general statutes, including 295 sections 7-324 to 7-329, inclusive, of the general statutes, the district shall 296 have the power to assess, levy and collect benefit assessments upon the 297 land and buildings in the district that, in the judgment of such district, 298 are benefited by the improvements. 299 (f) (1) Notwithstanding any provision of the general statutes, 300 including sections 7-324 to 7-329, inclusive, of the general statutes, the 301 district shall have the power to fix, revise, charge, collect, abate and 302 forgive reasonable taxes, fees, rents and benefit assessments, and other 303 charges for the cost of the improvements, financing costs, operating 304 expenses and other services and commodities furnished or supplied to 305 the real property in the district in accordance with the applicable 306 provisions of the general statutes that apply to districts established 307 under section 7-325 of the general statutes, and this section and in the 308 manner prescribed by the district. Notwithstanding any provision of the 309 general statutes, the district may pay the entire cost of any 310 improvements, including the costs of financing such improvements, 311 capitalized interest and the funding of any reserve funds necessary to 312 secure such financing or the debt service of bonds or notes issued to 313 finance such costs, from taxes, fees, rents, benefit assessments or other 314 revenues and may assess, levy and collect said taxes, fees, rents or 315 benefit assessments concurrently with the issuance of bonds, notes or 316 other obligations to finance such improvements based on the estimated 317 cost of the improvements prior to the acquisition or construction of the 318 improvements or upon the completion or acquisition of the 319 improvements. 320 (2) Notwithstanding any provision of the general statutes, whenever 321 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 11 of 17 the district constructs, improves, extends, equips, rehabilitates, repairs, 322 acquires or provides a grant for any improvements or finances the cost 323 of such improvements, such proportion of the cost or estimated cost of 324 the improvements and financing thereof as determined by the district, 325 may be assessed by the district, referred to in this section as "benefit 326 assessments", in the manner prescribed by such district, upon the 327 property benefited by such improvements and the balance of such costs 328 shall be paid from the general funds of the district. The district may 329 provide for the payment of such benefit assessments in annual 330 installments, not exceeding twenty, and may forgive such benefit 331 assessments in any single year without causing the remainder of 332 installments of benefit assessments to be forgiven. Benefit assessments 333 to buildings or structures constructed or expanded after the initial 334 benefit assessment may be assessed as if the new or expanded buildings 335 or structures had existed at the time of the original benefit assessment. 336 For the purposes of this section, the provision of open space, whether 337 within the district or in the city of West Haven, shall be deemed a benefit 338 to all the property in the district. 339 (3) In order to provide for the collection and enforcement of its taxes, 340 fees, rents, benefit assessments and other charges, the district is hereby 341 granted all the powers and privileges with respect thereto as districts 342 organized pursuant to section 7-325 of the general statutes, and as held 343 by the city of West Haven or as otherwise provided in this section. Such 344 taxes, fees, rents or benefit assessments, if not paid when due, shall 345 constitute a lien upon the premises served and a charge against the 346 owners thereof, which lien and charge shall bear interest at the same 347 rate as delinquent property taxes. Each such lien may be continued, 348 recorded and released in the manner provided for property tax liens and 349 shall take precedence over all other liens or encumbrances, except that 350 any such lien of the district shall be subordinate to any lien for taxes, 351 blight, sewer user fees or any other amounts due and owing to the city 352 of West Haven or any political subdivision of said city as a collector of 353 such taxes, user fees or amounts. Each such lien may be continued, 354 recorded and released in the manner provided for property tax liens. 355 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 12 of 17 (4) The budget, taxes, fees, rents, benefit assessments and any other 356 charges of the district of general application shall be adopted and 357 revised by the board at least annually no more than thirty days before 358 the beginning of the fiscal year in accordance with the procedures to be 359 established by the board at a meeting called by the board, assuring that 360 interested persons are afforded notice and an opportunity to be heard. 361 The board shall hold at least two public hearings on its schedule of fees, 362 rates, rents, benefit assessments and other charges or any revision 363 thereof before adoption, notice of which shall be delivered to the mayor 364 and city council of the city of West Haven and be published in at least 365 two newspapers of general circulation in the city of West Haven at least 366 ten days in advance of the hearing. Not later than the date of the 367 publication, the board shall make available to the public and deliver to 368 the mayor and the city council of the city of West Haven the proposed 369 schedule of fees, rates, rents, benefit assessments and other charges. The 370 procedures regarding public hearing and appeal provided by section 7-371 250 of the general statutes shall apply for all benefit assessments made 372 by the district except that the board shall be substituted for the water 373 pollution control authority. If the benefit assessments are assessed and 374 levied prior to the acquisition or construction of the improvements, the 375 amount of the benefit assessments shall be adjusted to reflect the actual 376 cost of the improvements, including all financing costs, once the 377 improvements have been completed, provided the actual cost is greater 378 than or less than the estimated costs. If the benefit assessments are 379 assessed and levied after the acquisition or construction of the 380 improvements, the amount of the benefit assessments shall reflect the 381 actual cost of the improvements, including all financing costs, and such 382 costs may be included in the bonds or budget of the district, as 383 determined by the board. Benefit assessments shall be due and payable 384 at such times as are fixed by the board, provided the district shall give 385 notice of such due date not less than thirty days prior to such due date 386 by publication in a newspaper of general circulation in the city of West 387 Haven and by mailing such notice to the owners of the property 388 assessed at their last-known address. 389 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 13 of 17 (g) (1) Notwithstanding any provision of the general statutes, 390 including sections 7-324 to 7-329, inclusive, of the general statutes, 391 whenever the district has authorized the acquisition or construction of 392 the improvements or has made an appropriation therefor, the district 393 may authorize the issuance of up to forty million dollars of bonds, notes 394 or other obligations to finance the cost of the improvements, the creation 395 and maintenance of reserves required to sell the bonds, notes or 396 obligations and the cost of issuance of the bonds, notes or obligations, 397 except that, until such time the district enters into an interlocal 398 agreement with the city of West Haven to share said city's revenue from 399 incremental increase in real property taxes on property within the 400 district, in accordance with the procedures provided by section 7-339c 401 of the general statutes, including at least one public hearing on the 402 proposed agreement and ratification by the city council of said city, no 403 bonds secured by a pledge of revenues derived from the interlocal 404 agreement shall be issued. The bonds, notes or other obligations may be 405 secured as to both principal or interest by (A) the full faith and credit of 406 the district, (B) fees, revenues or benefit assessments, or (C) a 407 combination of subparagraphs (A) and (B) of this subdivision. Such 408 bonds, notes or obligations shall be authorized by resolution of the 409 board. The district is authorized to secure such bonds by the full faith 410 and credit of the district or by a pledge of or lien on all or part of its 411 revenues, fees or benefit assessments. The bonds of each issue shall be 412 dated, shall bear interest at the rates and shall mature at the time or 413 times not exceeding twenty years from their date or dates, as 414 determined by the board, and may be redeemable before maturity, at 415 the option of the board, at the price or prices and under the terms and 416 conditions fixed by the board before the issuance of the bonds. The 417 board shall determine the form of the bonds, and the manner of 418 execution of the bonds, and shall fix the denomination of the bonds and 419 the place or places of payment of principal and interest, which may be 420 at any bank or trust company within the state of Connecticut and other 421 locations as designated by the board. In case any officer whose signature 422 or a facsimile of whose signature shall appear on any bonds or coupons 423 shall cease to be an officer before the delivery of the bonds, the signature 424 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 14 of 17 or facsimile shall nevertheless be valid and sufficient for all purposes 425 the same as if the officer had remained in office until the delivery. 426 (2) While any bonds or notes issued by the district remain 427 outstanding, the powers, duties or existence of the district shall not be 428 diminished or impaired in any way that will affect adversely the 429 interests and rights of the holders of the bonds or notes. Bonds or notes 430 issued under this section, unless otherwise authorized by law, shall not 431 be considered to constitute a debt of the state of Connecticut or the city 432 of West Haven, or a pledge of the full faith and credit of the state of 433 Connecticut or the city of West Haven, but the bonds or notes shall be 434 payable solely by the district or as special obligations payable from 435 particular district revenues. Any bonds or notes issued by the district 436 shall contain on their face a statement to the effect that neither the state 437 of Connecticut nor the city of West Haven shall be obliged to pay the 438 principal of or the interest thereon, and that neither the full faith and 439 credit or taxing power of the state of Connecticut or the city of West 440 Haven is pledged to the payment of the bonds or notes. All bonds or 441 notes issued under this section shall have and are hereby declared to 442 have all the qualities and incidents of negotiable instruments, as 443 provided in title 42a of the general statutes. 444 (h) (1) The board may authorize that the bonds be secured by a trust 445 agreement by and between the district and a corporate trustee, which 446 may be any trust company or bank having the powers of a trust 447 company within the state of Connecticut. The trust agreement may 448 pledge or assign the revenues. Either the resolution providing for the 449 issuance of bonds or the trust agreement may contain covenants or 450 provisions for protecting and enforcing the rights and remedies of the 451 bondholders as may be necessary, reasonable or appropriate and not in 452 violation of law. 453 (2) All expenses incurred in carrying out the trust agreement may be 454 treated as a part of the cost of the operation of the district. The pledge 455 by any trust agreement or resolution shall be valid and binding from 456 time to time when the pledge is made; the revenues or other moneys so 457 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 15 of 17 pledged and then held or thereafter received by the board shall 458 immediately be subject to the lien of the pledge without any physical 459 delivery thereof or further act; and the lien of the pledge shall be valid 460 and binding as against all parties having claims of any kind in tort, 461 contract or otherwise against the board, irrespective of whether the 462 parties have notice thereof. Notwithstanding any provision of the 463 Uniform Commercial Code, neither this subsection, the resolution or 464 any trust agreement by which a pledge is created need be filed or 465 recorded except in the records of the board, and no filing need be made 466 under title 42a of the general statutes. 467 (i) Bonds or notes issued under this section are hereby made 468 securities in which all public officers and public bodies of the state of 469 Connecticut and its political subdivisions, all insurance companies, trust 470 companies, banking associations, investment companies, executors, 471 administrators, trustees and other fiduciaries may properly and legally 472 invest funds, including capital in their control and belonging to them; 473 and such bonds shall be securities which may properly and legally be 474 deposited with and received by any state or municipal officer or any 475 agency or political subdivision of the state of Connecticut for any 476 purpose for which the deposit of bonds or notes of the state of 477 Connecticut is now or may hereafter be authorized by law. 478 (j) Bonds may be issued under this section without obtaining the 479 consent of the state of Connecticut or the city of West Haven, and 480 without any proceedings or the happening of any other conditions or 481 things other than those proceedings, conditions or things that are 482 specifically required thereof by this section, and the validity of and 483 security for any bonds issued by the district shall not be affected by the 484 existence or nonexistence of the consent or other proceedings, 485 conditions or things. 486 (k) The district and all its receipts, revenues, income and real and 487 personal property, except when such property is used for commercial 488 purposes, shall be exempt from taxation and benefit assessments and 489 the district shall not be required to pay any tax, excise or assessment to 490 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 16 of 17 or from the state of Connecticut or any of its political subdivisions. The 491 principal and interest on bonds or notes issued by the district shall be 492 free from taxation at all times, except for estate and gift, franchise and 493 excise taxes, imposed by the state of Connecticut or any political 494 subdivision thereof, provided nothing in this section shall act to limit or 495 restrict the ability of the state of Connecticut or the city of West Haven 496 to (1) tax the individuals and companies, or their real or personal 497 property, or any person living or business operating within the 498 boundaries of the district, or (2) enforce any lien, fee, ordinance or future 499 lien, fee or ordinance. 500 (l) The board shall at all times keep accounts of its receipts, 501 expenditures, disbursements, assets and liabilities, which shall be open 502 to inspection by a duly appointed officer or duly appointed agent of the 503 state of Connecticut or the city of West Haven. The fiscal year of the 504 district shall begin on July first and end on the following June thirtieth 505 or as otherwise established by section 7-327 of the general statutes. The 506 district shall be subject to an audit of its accounts in the manner 507 provided in the general statutes. 508 (m) (1) The clerk of the district shall submit project activity reports 509 quarterly to the Secretary of the Office of Policy and Management and 510 to the chairpersons of the joint standing committee of the General 511 Assembly having cognizance of matters relating to finance, revenue and 512 bonding. Such reports shall provide information and updates on the 513 projects undertaken by the district, including the status of the design, 514 financing, construction, sales of commercial and residential property 515 and such other items as the secretary or chairpersons may request. 516 (2) The district shall take affirmative steps to provide for the full 517 disclosure of information relating to the public financing and 518 maintenance of improvements to real property undertaken by the 519 district. Such information shall be provided to any existing residents 520 and to all prospective residents of the district. The district shall furnish 521 each developer of a residential development within the district with 522 sufficient copies of such information and provide each prospective 523 Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 17 of 18 initial purchaser of property in such district with a copy, and any 524 developer of a residential development within the district, when 525 required by law to provide a public offering statement, shall include a 526 copy of such information relating to the public financing and 527 maintenance of improvements in the public offering statement. 528 (n) (1) This section shall be deemed to provide an additional, 529 alternative and complete method of accomplishing the purposes of this 530 section and exercising the powers authorized hereby and shall be 531 deemed and construed to be supplemental and additional to, and not in 532 derogation of, powers conferred upon the district by law and 533 particularly by sections 7-324 to 7-329, inclusive, of the general statutes; 534 provided insofar as the proceedings of this section are inconsistent with 535 any general statute or special act, or any resolution or ordinance of the 536 city of West Haven, this section shall be controlling. 537 (2) Except as specifically provided in this section, all other statutes, 538 ordinances, resolutions, rules and regulations of the state of Connecticut 539 and the city of West Haven shall be applicable to the property, residents 540 and businesses located in the district. Nothing in this section shall in any 541 way obligate the city of West Haven to pay any costs for the acquisition, 542 construction, equipping or operation and administration of the 543 improvements located within the district or to pledge any money or 544 taxes to pay debt service on bonds or notes issued by the district except 545 as may be agreed to in any interlocal agreements executed by the city of 546 West Haven and the district. 547 (o) This section being necessary for the welfare of the city of West 548 Haven and its inhabitants shall be liberally construed to affect the 549 purposes hereof. 550 This act shall take effect as follows and shall amend the following sections: Section 1 from passage New section Substitute Bill No. 6102 LCO {\\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06102- R01-HB.docx } 18 of 18 PD Joint Favorable Subst.