Sec. 8-419. Bond authorization.
Sec. 8-419. Bond authorization. The State Bond Commission shall have the
power, from time to time, to authorize the issuance of bonds of the state in one or more
series and in principal amounts not exceeding in the aggregate two hundred thousand
dollars. The proceeds of the sale of said bonds shall be used for loans and administrative
costs incurred in the implementation of section 8-415, revision of 1958, revised to 1991
and in effect on July 1, 1991. All provisions of section 3-20 shall apply to all bonds
authorized by the State Bond Commission pursuant to this section, and temporary notes
in anticipation of the money to be derived from the sale of any such bonds so authorized
may be issued in accordance with said section and from time to time renewed. Such
bonds shall mature at such time or times not exceeding twenty years from their respective
dates as may be provided in or pursuant to the resolution or resolutions of the State Bond
Commission authorizing such bonds. Bonds issued pursuant to this section shall be
general obligations of the state and the full faith and credit of the state of Connecticut
are pledged for the payment of the principal of and interest on said bonds as the same
become due, and accordingly and as part of the contract of the state with the holders of
said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the Treasurer shall pay such principal and interest
as the same become due.
(P.A. 88-343, S. 31, 32; P.A. 91-346, S. 7, 9.)
History: P.A. 91-346 specified applicability to Sec. 8-415 as it existed as of July 1, 1991.