Sec. 7-373. Banks to certify municipal bonds. Disbursing agent.
Sec. 7-373. Banks to certify municipal bonds. Disbursing agent. Each town,
city, borough, school district, fire district and sewer district and each other municipal
corporation and association having a population of less than ninety thousand inhabitants
as determined by the federal census last taken, which issues bonds pursuant to its general
or special powers, shall, for each such issue, designate a bank or trust company incorporated under the laws of this or any other state, or of the United States, to certify such
issue and shall also designate a bank or trust company incorporated under the laws of
this or any other state, or of the United States, to act as disbursing agent in the payment
of principal and interest on such bonds. Such certification shall be endorsed upon each
bond and shall identify such bond as being one of the particular issue described in such
bond, shall certify the genuineness of the signatures and seal thereto affixed, shall state
the name of the attorney at law who has rendered an opinion approving the legality of
such particular issue and shall be signed by an authorized officer or official of such bank
or trust company.
(1949 Rev., S. 806; P.A. 83-519, S. 18, 23.)
History: P.A. 83-519 added "authorized official" to "authorized officer" as person acting for the bank or trust company
designated to certify such bond issue, thus authorizing such officer or official to so certify.
See Title 42b re registered obligations of public entities.
See Sec. 42b-1 for definitions re registered public obligations.
See Sec. 42b-11 re effect of chapter 748 (Sec. 42b-1 et seq.) with respect to registered public obligations issued on or
after July 7, 1983.
See Sec. 42b-12 for requirement that this section and chapter 748 (Sec. 42b-1 et seq.) be construed in conjunction with
the Uniform Commercial Code.
See Sec. 42b-14 re severability of provisions relating to registered public obligations.
Cited. 18 CA 291.