Sec. 7-265. Revenue or guaranteed bonds not included in debt limitation.
Sec. 7-265. Revenue or guaranteed bonds not included in debt limitation.
Bonds and notes issued pursuant to this chapter and (a) secured solely by a pledge of
revenues to be derived from sewerage system use charges or (b) guaranteed, in whole
or in part, by state, federal or private grants of money shall not be subject to any statutory
limitation, to the extent of such security or guarantee, on the indebtedness of the municipality and such bonds and notes when issued shall not be included in computing the
aggregate indebtedness of the municipality in respect to and to the extent of any such
limitation. Any provision of any special act inconsistent with the provisions of this
section is repealed.
(1949 Rev., S. 740; 1949, November, 1949, 1953, S. 332d; 1953, S. 364d; 1969, P.A. 162.)
History: 1969 act excluded bonds and notes guaranteed by state, federal or private grants from statutory limitation on
indebtedness to the extent guaranteed.
Issuance of revenue bonds alternative to method of financing provided for in sections 7-259 to 7-261. 5 CS 256.