Connecticut General Statutes 3-21aa – General obligation bonds for transportation projects. Authorization of special tax obligation bonds or general obligation bonds deemed to authorize issuance as either special tax obligation bonds or general oblig…
(a) The State Bond Commission shall authorize bond issuances each calendar year for transportation projects up to the amounts specified under subsection (b) of this section.
Terms Used In Connecticut General Statutes 3-21aa
- 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.
- Statute: A law passed by a legislature.
(b) For the calendar years commencing January 1, 2018, to January 1, 2019, inclusive, the State Bond Commission shall authorize general obligation bonds for transportation projects, capped at the following amounts:
|
Calendar Year Commencing |
Up to |
|
2018 |
$250,000,000 |
|
2019 |
  250,000,000 |
(c) Whenever any general statute or public or special act, whether enacted before, on or after July 1, 2018, authorizes special tax obligation bonds or general obligation bonds of the state to be issued for any purpose, such general statute or public or special act shall be deemed to have authorized such bonds to be issued as either special tax obligation bonds or general obligation bonds under this section. In no event shall the total of the principal amount of special tax obligation bonds and general obligation bonds issued pursuant to the authority of any general statute or public or special act exceed the amount authorized thereunder.