Sec. 13a-190. Certificate identifying projects and available federal funds to accompany authorization request. Use of federal funds.
Sec. 13a-190. Certificate identifying projects and available federal funds to
accompany authorization request. Use of federal funds. For the purposes of sections
13a-184 to 13a-197, inclusive, "state moneys" means proceeds of the sale of securities
authorized pursuant to said sections or of temporary notes issued in anticipation of the
money to be derived from the sale of such securities and moneys made available by
allotments of the sum appropriated in section 13a-184. With each request filed as provided in section 13a-186 for an authorization of securities pursuant to said sections 13a-184 to 13a-197, inclusive, for any purpose described in section 13a-185, there shall also
be filed a certificate signed in the same manner as such request briefly identifying the
projects for costs of which proceeds of the sale of such securities are to be used and
expended and stating the amount of such proceeds to be so used and expended for the
costs of each such project, together with a statement whether, in the opinion of the signer,
all or any part of federal moneys then available or thereafter to be made available for
costs in connection with any such project should be added to the state moneys available
or becoming available hereunder for such project. If the certificate so filed with respect
to any such project includes a statement that some amount of such federal moneys should
be added to such state moneys, then, if and to the extent directed by the State Bond
Commission at the time of authorization of such securities, said amount of such federal
moneys then available or thereafter to be made available for costs in connection with
such project may be added to any state moneys available or becoming available hereunder for such project and be used for such project as if constituting such state moneys,
and any other federal moneys then available or thereafter to be made available in connection with such project, if and to the extent from time to time directed by the State Bond
Commission, upon receipt shall, in conformity with applicable federal law, be used by
the Treasurer to meet principal of outstanding securities issued pursuant to sections
13a-184 to 13a-197, inclusive, or to meet the principal of temporary notes issued in
anticipation of the money to be derived from the sale of securities theretofore authorized
pursuant to said sections for the purpose of financing such costs, either by purchase or
redemption and cancellation of such securities or notes or by payment thereof at maturity. Whenever any of the federal moneys so received with respect to such project are
used to meet principal of such temporary notes or whenever principal of any of such
temporary notes is retired by application of revenue receipts of the state, the amount of
securities theretofore authorized in anticipation of which such temporary notes were
issued, and the aggregate amount of securities which may be authorized pursuant to
said sections with respect to said project, shall each be reduced by the amount of the
principal so met or retired. Pending use of the federal moneys so received to meet principal, the amount thereof may be invested by the Treasurer in bonds or obligations of, or
guaranteed by, the state or the United States or agencies or instrumentalities of the United
States, and shall be deemed to be part of the debt retirement funds of the state, and net
earnings on such investments shall be used in the same manner as the said moneys so
invested.
(1961, P.A. 605, S. 10; 1963, P.A. 226, S. 190; P.A. 85-613, S. 112, 154.)
History: 1963 act replaced previous provisions: See title history; P.A. 85-613 made technical changes, substituting
references to Sec. 13a-197 for references to Sec. 13a-198.