Permanently requires that the first installment of serial bonds mature not later than two years after the date of such bonds; provides that principal installments remaining unpaid on bonds may be called for redemption prior to their date of maturity in such amounts, at such times in such manner and pursuant to such terms as may be determined by the finance board of a municipality, school district or corporation at the time of the issuance thereof; repeals provisions that permanently eliminate the requirement that municipalities provide from current funds an amount equal to at least 5% of the estimated cost of each capital improvement (excluding from such cost state or federal grant funding and certain benefited area assessments) prior to the issuance of bonds or bond anticipation notes to finance such capital improvement.
Same As
Permanently requires that the first installment of serial bonds mature not later than two years after the date of such bonds; provides that principal installments remaining unpaid on bonds may be called for redemption prior to their date of maturity in such amounts, at such times in such manner and pursuant to such terms as may be determined by the finance board of a municipality, school district or corporation at the time of the issuance thereof; repeals provisions that permanently eliminate the requirement that municipalities provide from current funds an amount equal to at least 5% of the estimated cost of each capital improvement (excluding from such cost state or federal grant funding and certain benefited area assessments) prior to the issuance of bonds or bond anticipation notes to finance such capital improvement.
Permanently requires that the first installment of serial bonds mature not later than two years after the date of such bonds; provides that principal installments remaining unpaid on bonds may be called for redemption prior to their date of maturity in such amounts, at such times in such manner and pursuant to such terms as may be determined by the finance board of a municipality, school district or corporation at the time of the issuance thereof; repeals provisions that permanently eliminate the requirement that municipalities provide from current funds an amount equal to at least 5% of the estimated cost of each capital improvement (excluding from such cost state or federal grant funding and certain benefited area assessments) prior to the issuance of bonds or bond anticipation notes to finance such capital improvement.
Permanently requires that the first installment of serial bonds mature not later than two years after the date of such bonds; provides that principal installments remaining unpaid on bonds may be called for redemption prior to their date of maturity in such amounts, at such times in such manner and pursuant to such terms as may be determined by the finance board of a municipality, school district or corporation at the time of the issuance thereof; repeals provisions that permanently eliminate the requirement that municipalities provide from current funds an amount equal to at least 5% of the estimated cost of each capital improvement (excluding from such cost state or federal grant funding and certain benefited area assessments) prior to the issuance of bonds or bond anticipation notes to finance such capital improvement.
Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.
Provides that the current real property tax exemption for persons over 65 may also be extended to those persons who are totally and permanently disabled; requires that municipalities shall provide by local law that such exemptions shall be granted to either those 65 years of age or older or to those who are totally and permanently disabled, or to both categories of persons.
Increases the amount of years of military service credit a member may purchase from three years to four years; provides that the provisions of such act shall not be subject to the requirement that the state shall make an equal payment to the retirement system.
Increases the amount of years of military service credit a member may purchase from three years to four years; provides that the provisions of such act shall not be subject to the requirement that the state shall make an equal payment to the retirement system.
Provides that a school district vote on a bond resolution shall take place on the third Tuesday in May in conjunction with the school budget vote; provides that such bond resolution vote may only be resubmitted to the voters of the school district one time subsequent to such vote.
Provides that a school district vote on a bond resolution shall take place on the third Tuesday in May in conjunction with the school budget vote; provides that such bond resolution vote may only be resubmitted to the voters of the school district one time subsequent to such vote.
Removes the requirement that where a municipal corporation, school district or district corporation issues indebtedness to finance certain costs of preparation of plans and specifications for a proposed capital improvement there must be a waiting period of at least one year authorizing the undertaking of the capital improvement.