Sec. 10-60. Borrowing in addition to bonds.
Sec. 10-60. Borrowing in addition to bonds. In addition to the power to issue
bonds, notes and other obligations as provided by section 10-56, such regional board
of education may, when so authorized by a majority vote at a regional school district
meeting called for such purpose, borrow sums of money and issue bonds, notes or other
obligations, and pay interest thereon, to acquire land, prepare sites, purchase or erect
buildings and equip buildings for school purposes, secure the services of architects and
professional consultants, and operate and maintain regional schools, and for contingent
or other necessary expenses connected therewith in principal amounts which shall not
exceed in the aggregate five hundred thousand dollars at any time. Such sums may be
borrowed for a term not to exceed ten years. Persons eligible to vote under the provisions
of section 7-6 may vote on such issue. Such loans, bonds, notes or other obligations
shall be general obligations of such district and the member towns. The regional board
of education, or such officer or body to whom the board delegates the authority to make
such determinations, shall determine the date, maturity, interest rate, form, manner of
sale and other terms of such loans, bonds, notes or other obligations.
(1949 Rev., S. 1384; 1951, 1953, 1955, S. 915d; 1969, P.A. 290, S. 1; 698, S. 17; P.A. 78-218, S. 38; P.A. 88-67, S.
1, 2; P.A. 89-337, S. 5, 6.)
History: 1969 acts changed $100,000 limit on borrowing to $200,000, made borrowing power dependent on authorization by majority vote at regional district meeting rather than "when deemed necessary" and made technical changes to
simplify wording; P.A. 78-218 substituted "chairperson" for "chairman"; P.A. 88-67 increased limit on borrowing to
$500,000, increased the 5-year term for borrowing to 10 years and made technical changes; P.A. 89-337 clarified that
bonds, notes and other obligations could be issued under this section, restated the allowable purposes of those types of
debts and clarified the powers which the board may delegate to an officer or body under this section.