Sec. 8-119ee. Bond issue.
Sec. 8-119ee. Bond issue. The proceeds from the sale of any bonds issued pursuant
to any authorization, allocation or approval of the State Bond Commission made prior
to July 1, 1990, for the purposes of sections 8-119bb to 8-119jj, inclusive, and of any
notes issued in anticipation thereof as may be required for such purposes shall be applied
to the payment of the principal of any such notes then outstanding and unpaid, and the
remaining proceeds of any such sale shall be deposited in a fund designated as the "Low
Income Rental Housing Fund", which fund shall be used to make or provide for the
grants or deferred loans authorized by section 8-119dd. Payments from the Low Income
Rental Housing Fund to authorities, municipal developers or nonprofit corporations, or
to partnerships which include a housing authority, municipal developer or nonprofit
corporation, shall be made by the State Treasurer on certification of the Commissioner
of Economic and Community Development in accordance with the contract for financial
assistance between the state and such authority, municipal developer, nonprofit corporation or partnership. All payments of state service charges for low income housing projects as authorized by the commissioner financed with the proceeds of bonds issued
pursuant to any authorization, allocation or approval of the State Bond Commission
made prior to July 1, 1990, shall be paid to the State Treasurer for deposit in the Low
Income Rental Housing Fund. All payments of state service charges for low income
housing projects as authorized by the commissioner not financed from the proceeds of
the state's general obligation bonds shall be paid to the State Treasurer for deposit in
the Housing Repayment and Revolving Loan Fund.
(P.A. 86-362, S. 4, 10; P.A. 87-436, S. 11, 23; P.A. 88-180, S. 2, 6; P.A. 90-238, S. 13, 32; P.A. 94-95, S. 3; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6.)
History: P.A. 87-436 added references to municipal developers in Subsec. (a); P.A. 88-180 added provisions re deferred
loans and payments to certain housing partnerships in Subsec. (a); P.A. 90-238 revised provisions re state service fees and
allocation of moneys to various housing funds; P.A. 94-95 deleted former Subsec. (b) re investment of fund moneys in
direct obligations of the U.S.; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Housing with
Commissioner and Department of Economic and Community Development.