Connecticut 2021 Regular Session

Connecticut Senate Bill SB01053 Compare Versions

Only one version of the bill is available at this time.

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6	6	LCO No. 4712 1 of 2
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8	8	General Assembly Raised Bill No. 1053
9	9	January Session, 2021
10	10	LCO No. 4712
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13	13	Referred to Committee on FINANCE, REVENUE AND
14	14	BONDING
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16	16
17	17	Introduced by:
18	18	(FIN)
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23	23	AN ACT AUTHORIZING B ONDS OF THE STATE FO R CAPITAL
24	24	IMPROVEMENTS TO SCHO OLS SERVED BY THE CAPITOL REGION
25	25	EDUCATION COUNCIL.
26	26	Be it enacted by the Senate and House of Representatives in General
27	27	Assembly convened:
28	28
29	29	Section 1. (Effective July 1, 2021) (a) For the purposes described in 1
30	30	subsection (b) of this section, the State Bond Commission shall have the 2
31	31	power from time to time to authorize the issuance of bonds of the state 3
32	32	in one or more series and in principal amounts not exceeding in the 4
33	33	aggregate twenty million dollars. 5
34	34	(b) The proceeds of the sale of such bonds, to the extent of the amount 6
35	35	stated in subsection (a) of this section, shall be used by the Department 7
36	36	of Education for the purpose of providing grants-in-aid to the Capitol 8
37	37	Region Education Council, established pursuant to section 10-66a of the 9
38	38	general statutes, for capital improvements to the schools served by such 10
39	39	center. 11
40	40	(c) All provisions of section 3-20 of the general statutes, or the exercise 12
41	41	of any right or power granted thereby, that are not inconsistent with the 13 Raised Bill No. 1053
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45	45	LCO No. 4712 2 of 2
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47	47	provisions of this section are hereby adopted and shall apply to all 14
48	48	bonds authorized by the State Bond Commission pursuant to this 15
49	49	section. Temporary notes in anticipation of the money to be derived 16
50	50	from the sale of any such bonds so authorized may be issued in 17
51	51	accordance with section 3-20 of the general statutes and from time to 18
52	52	time renewed. Such bonds shall mature at such time or times not 19
53	53	exceeding twenty years from their respective dates as may be provided 20
54	54	in or pursuant to the resolution or resolutions of the State Bond 21
55	55	Commission authorizing such bonds. None of such bonds shall be 22
56	56	authorized except upon a finding by the State Bond Commission that 23
57	57	there has been filed with it a request for such authorization that is signed 24
58	58	by or on behalf of the Secretary of the Office of Policy and Management 25
59	59	and states such terms and conditions as said commission, in its 26
60	60	discretion, may require. Such bonds issued pursuant to this section shall 27
61	61	be general obligations of the state and the full faith and credit of the state 28
62	62	of Connecticut are pledged for the payment of the principal of and 29
63	63	interest on such bonds as the same become due, and accordingly and as 30
64	64	part of the contract of the state with the holders of such bonds, 31
65	65	appropriation of all amounts necessary for punctual payment of such 32
66	66	principal and interest is hereby made, and the State Treasurer shall pay 33
67	67	such principal and interest as the same become due. 34
68	68	This act shall take effect as follows and shall amend the following
69	69	sections:
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71	71	Section 1 July 1, 2021 New section
72	72
73	73	Statement of Purpose:
74	74	To provide funding for capital improvements to schools served by the
75	75	Capitol Region Education Council.
76	76	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
77	77	that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
78	78	underlined.]
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