Connecticut Senate Bill SB00183

Connecticut 2014 Regular Session

• Introduced: 2/19/14
• Refer: 2/19/14

Caption

An Act Concerning Financing Transactions For Revenue Bond Projects Under Uconn 2000.

Impact

The enactment of SB00183 is expected to enhance UConn's ability to manage its financial resources. By repealing and substituting certain existing language in state statutes, it allows the university to operate more efficiently when it comes to funding and financing its projects. This could potentially lead to more rapid development and advancements within the UConn 2000 framework, ultimately benefiting students, faculty, and the Connecticut community at large.

Summary

SB00183 is designed to amend financing transactions for revenue bond projects specifically related to UConn 2000. The bill enables the University of Connecticut (UConn) to borrow money and issue securities for various projects under the UConn 2000 program. This provides flexibility in financing, allowing the university to utilize assured revenues, project revenue, or other funding sources effectively. The proposed changes aim to streamline the financial operations for any current or future projects that fall under this program.

Contention

While the bill seeks to facilitate funding for university-related projects, there may be concerns regarding fiscal responsibility and accountability. Critics may argue about the implications of expanding the revenue sources and the level of debt incurred by the university, as well as the overall impact on state financial commitments. Notably, ensuring appropriate oversight in the university's handling of these revenue bonds is vital to prevent unnecessary financial risk.