Connecticut General Statutes 7-205 – Financing
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Such parking authority or parking division, subject to the specific authorization and approval of the legislative body, may finance the creation and establishment of parking facilities by any one, or any combination, of the following methods: (a) General obligation bonds, including such general obligation bonds as shall mature at such time on a maturity schedule that will substantially equalize the payment of principal and interest annually; (b) revenue bonds as provided in section 7-206; (c) parking fees and special charges derived from the use of parking facilities; (d) general fund appropriations; (e) parking meter revenues; or (f) gifts, bequests, devises, grants-in-aid or otherwise.
Terms Used In Connecticut General Statutes 7-205
- legislative body: means : (1) As applied to unconsolidated towns, the town meeting. See Connecticut General Statutes 1-1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- parking authority: means a body corporate and politic created by the legislative body of any municipality as hereinafter provided. See Connecticut General Statutes 7-202
- parking division: means any existing municipal department, bureau, agency, commission or executive officer designated by any municipality as hereinafter provided. See Connecticut General Statutes 7-202
- parking facilities: means lots, garages, parking terminals or other structures and accommodations for the parking of motor vehicles off the street or highway and open to public use with or without charge. See Connecticut General Statutes 7-202