Sec. 31-391. State bonds.
Sec. 31-391. State bonds. (a) All of the provisions of section 3-20 which are not
inconsistent with the provisions of this chapter are hereby adopted and shall apply to all
bonds authorized by the State Bond Commission pursuant to this chapter, and temporary
notes in anticipation of the money to be derived from the sale of any such bonds so
authorized may be issued in accordance with said section and from time to time renewed.
Such bonds shall mature at such time or times not exceeding twenty years from their
respective dates as may be provided in or pursuant to the resolution or resolutions of
the State Bond Commission authorizing such bonds.
(b) None of said bonds shall be authorized except upon a finding by the State Bond
Commission that there has been filed with it a request for such authorization, which is
signed by the Secretary of the Office of Policy and Management or by or on behalf of
such state officer, department or agency and stating such terms and conditions as said
commission, in its discretion, may require.
(c) Said bonds issued pursuant to this chapter shall be general obligations of the
state and the full faith and credit of the state of Connecticut are pledged for the payment
of the principal of and interest on said bonds as the same become due, and accordingly
and as part of the contract of the state with the holders of said bonds, appropriation of
all amounts necessary for punctual payment of such principal and interest is hereby
made, and the Treasurer shall pay such principal and interest as the same become due.
(P.A. 75-608, S. 6, 7; P.A. 77-614, S. 19, 610.)
History: P.A. 77-614 replaced commissioner of finance and control with secretary of the office of policy and management.