Sec. 13b-74. Special tax obligation bonds for transportation projects. Purposes.
Sec. 13b-74. Special tax obligation bonds for transportation projects. Purposes. (a) Whenever the General Assembly has empowered the State Bond Commission
to authorize special tax obligation bonds of the state for specific transportation projects
and uses and has found that such projects and uses are for any of the purposes set forth
under subsection (b) of this section, and whenever the State Bond Commission finds
that the authorization of such bonds will be in the best interests of the state, the State
Bond Commission shall authorize the issuance of such bonds from time to time in one
or more series and in principal amounts not exceeding the aggregate amount authorized
therefor by the General Assembly.
(b) The purposes for which special tax obligation bonds may be issued pursuant to
sections 13b-74 to 13b-77, inclusive, are as follows:
(1) Planning, acquisition, removal, construction, equipping, reconstruction, repair,
rehabilitation and improvement of, and acquisition of easements and rights-of-way with
respect to, state highways and bridges;
(2) Payment of the state's share of the costs of planning, acquisition, removal, construction, equipping, reconstruction, repair, rehabilitation and improvement of, and acquisition of easements and rights-of-way with respect to, (A) state highways, (B) projects
on the interstate highway system, (C) alternate highway projects in the interstate highway substitution program, commonly referred to as the interstate trade-in program, (D)
state bridges, (E) mass transportation and transit facilities, (F) aeronautic facilities, excluding Bradley International Airport, and (G) waterway projects;
(3) Payment of the state's share of the costs of planning, acquisition, removal, construction, equipping, reconstruction, repair, rehabilitation and improvement of, and acquisition of easements and rights-of-way with respect to, the local bridge program established under sections 13a-175p to 13a-175u, inclusive, and payment of state
contributions to the Local Bridge Revolving Fund established under section 13a-175r;
(4) Planning, acquisition, removal, construction, equipping, reconstruction, repair,
rehabilitation and improvement of, and acquisition of easements and rights-of-way with
respect to, the highway safety program, including the rail-highway crossing, hazard
elimination and other highway safety programs on the state highway system;
(5) Planning, acquisition, removal, construction, equipping, reconstruction, repair,
rehabilitation and improvement of, and acquisition of easements and rights-of-way with
respect to, the maintenance garages and administrative facilities of the Department of
Transportation; and
(6) Planning, acquisition, removal, construction, equipping, reconstruction, repair,
rehabilitation and improvement of, and acquisition of easements and rights-of-way with
respect to, projects and purposes included in section 13b-57h.
(c) Upon authorization of bonds by the State Bond Commission pursuant to subsection (a) of this section, the principal amount of the bonds authorized therein for transportation costs with respect to such projects and uses shall be deemed to be an appropriation
and allocation of such amount for such projects or uses, respectively, and, subject to
approval by the Governor of allotment thereof and to any authorization for such projects
or uses that may otherwise be required, contracts may be awarded and obligations incurred with respect to any such projects or uses in amounts not in the aggregate exceeding
the principal amount authorized therefor, notwithstanding that such contracts and obligations may at a particular time exceed the amount of the proceeds from the sale of such
bonds theretofore received by the state.
(P.A. 84-254, S. 4, 62; June 30 Sp. Sess. P.A. 03-4, S. 18; P.A. 04-143, S. 15; June Sp. Sess. P.A. 05-4, S. 48.)
History: June 30 Sp. Sess. P.A. 03-4 added Subsec. (b)(6) re projects and purposes specified in Sec. 13b-57h as purpose
for which special tax obligation bonds may be issued, effective August 20, 2003; P.A. 04-143 made a technical change in
Subsec. (b)(6), effective May 21, 2004; June Sp. Sess. P.A. 05-4 amended Subsec. (b)(6) by deleting provision re Transportation Strategy Board projects approved for financing with special tax obligation bonds, effective July 1, 2005.