Connecticut Seal

Substitute Senate Bill No. 30

Public Act No. 04-3

AN ACT CONCERNING AN AUTHORIZATION OF BONDS OF THE STATE FOR HIGHER EDUCATION CAPITAL IMPROVEMENTS AND OTHER PURPOSES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (Effective from passage) The State Bond Commission shall have power, in accordance with the provisions of sections 1 to 7, inclusive, of this act, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts in the aggregate, not exceeding $ 138,962,390.

Sec. 2. (Effective from passage) The proceeds of the sale of said bonds, to the extent hereinafter stated, shall be used for the purpose of acquiring, by purchase or condemnation, undertaking, constructing, reconstructing, improving or equipping, or purchasing land or buildings or improving sites for the projects hereinafter described, including payment of architectural, engineering, demolition or related costs in connection therewith, or of payment of the cost of long-range capital programming and space utilization studies as hereinafter stated:

(a) For the Department of Public Works: Removal or encapsulation of asbestos in state-owned buildings, not exceeding $ 2,500,000.

(b) For the Community-Technical College System:

(1) All Community-Technical Colleges:

(A) New and replacement instruction, research and/or laboratory equipment, not exceeding $ 9,000,000;

(B) Alterations, renovations and improvements to facilities including fire, safety, energy conservation and code compliance, not exceeding $ 7,050,000;

(C) System Technology Initiative, not exceeding $ 5,000,000;

(2) At Asnuntuck Community-Technical College: Acquisition of and improvements to existing buildings, not exceeding $ 2,400,000;

(3) At Housatonic Community-Technical College: Campus expansion, not exceeding $ 5,665,740;

(4) At Manchester Community-Technical College: Campus improvements, not exceeding $ 3,170,000;

(5) At Naugatuck Valley Community-Technical College: Additional parking, not exceeding $ 2,000,000;

(6) At Norwalk Community-Technical College: Master plan development, not exceeding $ 6,573,792;

(7) At Quinebaug Valley Community-Technical College: Facility development, including parking, not exceeding $ 8,873,858.

(c) For the Connecticut State University System:

(1) At All Universities:

(A) New and replacement instruction, research, laboratory, and physical plant and administrative equipment, not exceeding $ 10,000,000;

(B) Alterations, repairs and improvements-Auxiliary Services buildings, not exceeding $ 5,000,000;

(C) System telecom infrastructure upgrades, improvements, and expansions, not exceeding $ 2,410,000;

(D) Land and property acquisitions, not exceeding $ 2,000,000;

(2) At Central Connecticut State University:

(A) New maintenance facility/salt storage shed, not exceeding $ 1,297,000;

(B) Alterations, renovations and improvements to facilities, including fire, safety, energy conservation and code compliance improvements, not exceeding $ 3,277,000;

(C) New swing space classroom/office facility, not exceeding $ 20,203,000;

(D) Various ventilation and air conditioning system improvements, not exceeding $ 743,000;

(3) At Western Connecticut State University:

(A) Purchase of equipment for the new science facility, not exceeding $ 3,500,000;

(B) Alterations, renovations and improvements to facilities, including fire, safety, energy conservation and code compliance improvements, not exceeding $ 1,595,000;

(C) New Fine and Performing Arts Building, not exceeding $ 5,792,000;

(4) At Southern Connecticut State University:

(A) Addition and renovations to Buley Library, not exceeding $ 23,350,000;

(B) Alterations, renovations and improvements to facilities, including fire, safety, energy conservation and code compliance improvements, not exceeding $ 1,584,000;

(C) Earl Hall various upgrades, including mechanical and electrical improvements, not exceeding $ 4,273,000;

(D) Jennings Hall various mechanical and electrical improvements, not exceeding $ 798,000;

(5) At Eastern Connecticut State University:

(A) Alterations, renovations and improvements to facilities, including fire, safety, energy conservation and code compliance improvements, not exceeding $ 650,000;

(B) Planning for a parking garage and roadway improvements, not exceeding $ 257,000.

Sec. 3. (NEW) (Effective from passage) All provisions of section 3-20 of the general statutes or the exercise of any right or power granted thereby which are not inconsistent with the provisions of this act are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to sections 1 to 7, inclusive, of this act, and temporary notes issued 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 3-20 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.

Sec. 4. (Effective from passage) None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization, which is signed by the Secretary of the Office of Policy and Management or by or on behalf of such state officer, department or agency and stating such terms and conditions as said commission, in its discretion, may require.

Sec. 5. (Effective from passage) For the purposes of sections 1 to 7, inclusive, of this act, "state moneys" means the proceeds of the sale of bonds authorized pursuant to said sections 1 to 7, inclusive, or of temporary notes issued in anticipation of the moneys to be derived from the sale of such bonds. Each request filed as provided in section 4 of this act for an authorization of bonds shall identify the project for which the proceeds of the sale of such bonds are to be used and expended and, in addition to any terms and conditions required pursuant to said section 4, shall include the recommendation of the person signing such request as to the extent to which federal, private or other moneys then available or thereafter to be made available for costs in connection with any such project should be added to the state moneys available or becoming available hereunder for such project. If the request includes a recommendation that some amount of such federal, private or other moneys should be added to such state moneys, then, if and to the extent directed by the State Bond Commission at the time of authorization of such bonds, said amount of such federal, private or other moneys then available, or thereafter to be made available for costs in connection with such project, may be added to any state moneys available or becoming available hereunder for such project and shall be used for such project. Any other federal, private or other moneys then available or thereafter to be made available for costs in connection with such project shall, upon receipt, be used by the State Treasurer, in conformity with applicable federal and state law, to meet the principal of outstanding bonds issued pursuant to sections 1 to 7, inclusive, of this act, or to meet the principal of temporary notes issued in anticipation of the money to be derived from the sale of bonds theretofore authorized pursuant to said sections 1 to 7, inclusive, for the purpose of financing such costs, either by purchase or redemption and cancellation of such bonds or notes or by payment thereof at maturity. Whenever any of the federal, private or other moneys so received with respect to such project are used to meet the principal of such temporary notes or whenever principal of any such temporary notes is retired by application of revenue receipts of the state, the amount of bonds theretofore authorized in anticipation of which such temporary notes were issued, and the aggregate amount of bonds which may be authorized pursuant to section 1 of this act, shall each be reduced by the amount of the principal so met or retired. Pending use of the federal, private or other moneys so received to meet principal as hereinabove directed, the amount thereof may be invested by the State Treasurer in bonds or obligations of, or guaranteed by, the state or the United States or agencies or instrumentalities of the United States, shall be deemed to be part of the debt retirement funds of the state, and net earnings on such investments shall be used in the same manner as the moneys so invested.

Sec. 6. (Effective from passage) Any balance of proceeds of the sale of said bonds authorized for any project described in section 2 of this act in excess of the cost of such project may be used to complete any other project described in said section 2 if the State Bond Commission shall so determine and direct. Any balance of proceeds of the sale of said bonds in excess of the costs of all the projects described in said section 2 shall be deposited to the credit of the General Fund.

Sec. 7. (Effective from passage) Said bonds issued pursuant to sections 1 to 7, inclusive, of this act, shall be general obligation bonds 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 State Treasurer shall pay such principal and interest as the same become due.

Sec. 8. Subsection (a) of section 3-21 of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(a) No bonds, notes or other evidences of indebtedness for borrowed money payable from General Fund tax receipts of the state shall be authorized by the General Assembly or issued except such as shall not cause the aggregate amount of the total amount of bonds, notes or other evidences of indebtedness payable from General Fund tax receipts authorized by the General Assembly but which have not been issued and the total amount of such indebtedness which has been issued and remains outstanding to exceed one and six-tenths times the total General Fund tax receipts of the state for the fiscal year in which any such authorization will become effective or in which such indebtedness is issued, as estimated for such fiscal year by the joint standing committee of the General Assembly having cognizance of finance, revenue and bonding in accordance with section 2-35. In computing such aggregate amount of indebtedness at any time, there shall be excluded or deducted, as the case may be, (1) the principal amount of all such obligations as may be certified by the Treasurer (A) as issued in anticipation of revenues to be received by the state during the period of twelve calendar months next following their issuance and to be paid by application of such revenue, or (B) as having been refunded or replaced by other indebtedness the proceeds and projected earnings on which or other funds are held in escrow to pay and are sufficient to pay the principal, interest and any redemption premium until maturity or earlier planned redemption of such indebtedness, or (C) as issued and outstanding in anticipation of particular bonds then unissued but fully authorized to be issued in the manner provided by law for such authorization, provided, so long as any of said obligations are outstanding, the entire principal amount of such particular bonds thus authorized shall be deemed to be outstanding and be included in such aggregate amount of indebtedness, or (D) as payable solely from revenues of particular public improvements, (2) the amount which may be certified by the Treasurer as the aggregate value of cash and securities in debt retirement funds of the state to be used to meet principal of outstanding obligations included in such aggregate amount of indebtedness, (3) every such amount as may be certified by the Secretary of the Office of Policy and Management as the estimated payments on account of the costs of any public work or improvement thereafter to be received by the state from the United States or agencies thereof and to be used, in conformity with applicable federal law, to meet principal of obligations included in such aggregate amount of indebtedness, (4) all authorized and issued indebtedness to fund any budget deficits of the state for any fiscal year ending on or before June 30, 1991, (5) all authorized indebtedness to fund the program created pursuant to section 32-285, (6) all authorized and issued indebtedness to fund any budget deficits of the state for any fiscal year ending on or before June 30, 2002, [and] (7) all indebtedness authorized and issued pursuant to section 1 of public act 03-1 of the September 8 special session, and (8) any indebtedness represented by any agreement entered into pursuant to subsection (b) or (c) of section 3-20a as certified by the Treasurer, provided the indebtedness in connection with which such agreements were entered into shall be included in such aggregate amount of indebtedness. In computing the amount of outstanding indebtedness, only the accreted value of any capital appreciation obligation or any zero coupon obligation which has accreted and been added to the stated initial value of such obligation as of the date of any computation shall be included.

Sec. 9. (Effective July 1, 2004) The State Bond Commission shall have power, in accordance with the provisions of sections 9 to 15, inclusive, of this act, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts in the aggregate, not exceeding $ 56,789,000.

Sec. 10. (Effective July 1, 2004) The proceeds of the sale of said bonds, to the extent hereinafter stated, shall be used for the purpose of acquiring, by purchase or condemnation, undertaking, constructing, reconstructing, improving or equipping, or purchasing land or buildings or improving sites for the projects hereinafter described, including payment of architectural, engineering, demolition or related costs in connection therewith, or of payment of the cost of long-range capital programming and space utilization studies as hereinafter stated:

(a) For the Connecticut State University System:

(1) At Eastern Connecticut State University:

(A) New science building, including a greenhouse, not exceeding $ 55,874,000;

(B) Alterations, renovations and improvements to facilities, including fire, safety, energy conservation and code compliance improvements, including improvements to the south electrical loop, not exceeding $ 915,000.

Sec. 11. (NEW) (Effective July 1, 2004) All provisions of section 3-20 of the general statutes or the exercise of any right or power granted thereby which are not inconsistent with the provisions of this act are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to sections 9 to 15, inclusive, of this act, and temporary notes issued 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 3-20 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.

Sec. 12. (Effective July 1, 2004) None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization, which is signed by the Secretary of the Office of Policy and Management or by or on behalf of such state officer, department or agency and stating such terms and conditions as said commission, in its discretion, may require.

Sec. 13. (Effective July 1, 2004) For the purposes of sections 9 to 15, inclusive, of this act, "state moneys" means the proceeds of the sale of bonds authorized pursuant to said sections 9 to 15, inclusive, or of temporary notes issued in anticipation of the moneys to be derived from the sale of such bonds. Each request filed as provided in section 12 of this act for an authorization of bonds shall identify the project for which the proceeds of the sale of such bonds are to be used and expended and, in addition to any terms and conditions required pursuant to said section 12, shall include the recommendation of the person signing such request as to the extent to which federal, private or other moneys then available or thereafter to be made available for costs in connection with any such project should be added to the state moneys available or becoming available hereunder for such project. If the request includes a recommendation that some amount of such federal, private or other moneys should be added to such state moneys, then, if and to the extent directed by the State Bond Commission at the time of authorization of such bonds, said amount of such federal, private or other moneys then available, or thereafter to be made available for costs in connection with such project, may be added to any state moneys available or becoming available hereunder for such project and shall be used for such project. Any other federal, private or other moneys then available or thereafter to be made available for costs in connection with such project shall, upon receipt, be used by the State Treasurer, in conformity with applicable federal and state law, to meet the principal of outstanding bonds issued pursuant to sections 9 to 15, inclusive, of this act, or to meet the principal of temporary notes issued in anticipation of the money to be derived from the sale of bonds theretofore authorized pursuant to said sections 9 to 15, inclusive, for the purpose of financing such costs, either by purchase or redemption and cancellation of such bonds or notes or by payment thereof at maturity. Whenever any of the federal, private or other moneys so received with respect to such project are used to meet the principal of such temporary notes or whenever principal of any such temporary notes is retired by application of revenue receipts of the state, the amount of bonds theretofore authorized in anticipation of which such temporary notes were issued, and the aggregate amount of bonds which may be authorized pursuant to section 9 of this act, shall each be reduced by the amount of the principal so met or retired. Pending use of the federal, private or other moneys so received to meet principal as hereinabove directed, the amount thereof may be invested by the State Treasurer in bonds or obligations of, or guaranteed by, the state or the United States or agencies or instrumentalities of the United States, shall be deemed to be part of the debt retirement funds of the state, and net earnings on such investments shall be used in the same manner as the moneys so invested.

Sec. 14. (Effective July 1, 2004) Any balance of proceeds of the sale of said bonds authorized for any project described in section 10 of this act in excess of the cost of such project may be used to complete any other project described in said section 10 if the State Bond Commission shall so determine and direct. Any balance of proceeds of the sale of said bonds in excess of the costs of all the projects described in said section 10 shall be deposited to the credit of the General Fund.

Sec. 15. (Effective July 1, 2004) Said bonds issued pursuant to sections 9 to 15, inclusive, of this act, shall be general obligation bonds 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 State Treasurer shall pay such principal and interest as the same become due.

Sec. 16. Subdivision (5) of subsection (n) of section 2 of special act 95-20 is amended to read as follows (Effective from passage):

(5) Gateway Community-Technical College, New Haven: [Planning for the development of additional parking] Implementation of the master plan consolidating both campuses into a single location, including legal and administrative fees associated with site acquisition, demolition, design and site improvements, not exceeding $ 350,000.

Sec. 17. Subdivision (5) of subsection (j) of section 21 of public act 99-242 is amended to read as follows (Effective from passage):

(5) At Gateway Community-Technical College: [Alterations and improvements to buildings and grounds in accordance with the campus master plan] Implementation of the master plan consolidating both campuses into a single location, including legal and administrative fees associated with site acquisition, demolition, design and site improvements, not exceeding $ 2,880,000.

Sec. 18. Subdivision (5) of subsection (i) of section 2 of special act 01-2 of the June special session is amended to read as follows (Effective from passage):

(5) At Gateway Community-Technical College: [Development of facilities, including parking for the consolidation of college programs in one location] Implementation of the master plan consolidating both campuses into a single location, including legal and administrative fees associated with site acquisition, demolition, design and site improvements, not exceeding $ 3,885,000.

Approved March 11, 2004