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