Sec. 7-620. Enterprise zone facility bonds authorized.
Sec. 7-620. Enterprise zone facility bonds authorized. Any municipality in the
state which meets the requirements for the issuance of enterprise zone facility bonds
complying with the provisions of Sections 1391 to 1397C of the Internal Revenue Code
of 1986, as amended, through its designation as an urban empowerment zone by the
Secretary of Housing and Urban Development pursuant to the Code, may issue such
bonds, provided such bonds comply with the requirements imposed by the Code, U.S.
Treasury Regulations and other federal law related to the issuance of tax-exempt bond
financing to provide funding for an enterprise zone business with qualified zone property
as defined in such law.
(P.A. 00-122, S. 1, 7.)
History: P.A. 00-122 effective May 26, 2000.