Sec. 7-620d. Interest income from bonds.
Sec. 7-620d. Interest income from bonds. A municipality may issue bonds the
interest on which may be includable under the Internal Revenue Code, as from time to
time amended, in the gross income of the holders of such bonds to the same extent and
in the same manner that interest on bills, bonds, notes or other obligations of the United
States is includable in the gross income of the holders thereof under said Code, for the
purpose of financing certain costs of issuance or other costs related to providing tax-exempt bond financing for funding an enterprise zone business with qualified zone
property as set forth in section 7-620, based upon a finding by the board, officers or
agency delegated the authority to issue and sell the bonds that the issuance of such bonds
on a taxable basis is in the best interest of the municipality and in furtherance of the
purposes of sections 7-620 to 7-620e, inclusive.
(P.A. 00-122, S. 5, 7.)
History: P.A. 00-122 effective May 26, 2000.