Sec. 32-41o. Bond issue for technology deployment.
Sec. 32-41o. Bond issue for technology deployment. (a) For the purposes described in subsection (b) of this section, the State Bond Commission shall have the
power, from time to time, to authorize the issuance of bonds of the state in one or more
series and in principal amounts not exceeding in the aggregate five million five hundred
thousand dollars.
(b) The proceeds of the sale of said bonds, to the extent of the amount stated in
subsection (a) of this section, shall be used by the corporation as follows: (1) Three
million dollars for the program established in section 32-41j; (2) five hundred thousand
dollars for the program established in section 32-41k; (3) one million two hundred fifty
thousand dollars for the program established and for the eligible business consortium
approved in section 32-41l; and (4) seven hundred fifty thousand dollars for the program
established and for the eligible business consortium approved in section 32-41m.
(c) All provisions of section 3-20, or the exercise of any right or power granted
thereby which are not inconsistent with the provisions of this section are hereby adopted
and shall apply to all bonds authorized by the State Bond Commission pursuant to this
section, 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 3-20
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.
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 or on behalf of the Secretary of the Office of Policy and Management and states such
terms and conditions as said commission, in its discretion, may require. Said bonds
issued pursuant to this section 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. 93-382, S. 38, 69; P.A. 95-272, S. 18, 29.)
History: P.A. 93-382 effective July 1, 1993; P.A. 95-272 amended Subsec. (a) to increase authorization from $5,000,000
to $5,500,000, Subsec. (b)(3) to increase amount from $1,000,000 to $1,250,000 and Subsec. (b)(4) to increase amount
from $500,000 to $750,000 and made technical changes, effective July 1, 1995.