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Substitute House Bill No. 5032

Special Act No. 04-6

AN ACT CONCERNING THE AUTHORIZATION OF BONDS OF THE STATE FOR TRANSPORTATION PURPOSES.

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

Section 1. (Effective from passage) (a) For the purposes described in subsection (b) of this section, 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 twenty-five million dollars.

(b) The proceeds of the sale of said bonds, to the extent of the amount stated in subsection (a) of this section, shall be used by the Department of Transportation for the purpose of payment of the transportation costs, as defined in subdivision (6) of section 13b-75 of the general statutes, with respect to the projects and uses described in this subsection, which projects and uses are found and determined to be in furtherance of one or more of the authorized purposes for the issuance of special tax obligation bonds set forth in section 13b-74 of the general statutes, as amended. Any proceeds from the sale of said bonds may be used by the Department of Transportation for the Bureau of Transportation for the purchase of rail equipment, not exceeding twenty-five million dollars.

(c) All provisions of sections 13b-74 to 13b-77, inclusive, of the general statutes, as amended, or the exercise of any right or power granted thereby, which are not inconsistent with the provisions of this section are hereby adopted and 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 sections 13b-74 to 13b-77, inclusive, and from time to time renewed. Such bonds shall mature at such time or times not exceeding thirty 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. 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 or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require. Said bonds issued pursuant to this section shall be special tax obligations of the state and all pledged revenues, as defined in subdivision (4) of section 13b-75 of the general statutes, 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 from the special transportation fund created under section 13b-68 of the general statutes, as amended, 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. 2. (Effective from passage) None of said bonds shall be issued except upon a finding by the State Bond Commission that there has been filed with it (1) 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, and (2) any capital development impact statement and any human services facility collocation statement required to be filed with the Secretary of the Office of Policy and Management pursuant to section 4-26b of the general statutes, any advisory report regarding the state conservation and development policies plan required pursuant to section 16a-31 of the general statutes, and any statement regarding farm land required pursuant to subsection (g) of section 3-20, of the general statutes, as amended, and section 22-6 of the general statutes, as amended, provided the State Bond Commission may authorize said bonds without a finding that the reports and statements required by subdivision (2) of this section have been filed with it if said commission authorizes the secretary of said commission to accept such reports and statements on its behalf. No funds derived from the sale of bonds authorized by said commission without a finding that the reports and statements required by subdivision (2) of this section have been filed with it shall be allotted by the Governor for any project until the reports and statements required by subdivision (2) of this section with respect to such project have been filed with the secretary of said commission.

Sec. 3. (Effective from passage) For the purposes of sections 1 to 4, inclusive, of this act, each request filed as provided in section 2 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 section 2 of this act, shall include the recommendation of the person signing such request as to the extent to which federal, private or other moneys then available for costs in connection with any such project should be added to the state moneys available or becoming available from the proceeds of bonds and temporary notes issued in anticipation of the receipt of the proceeds of bonds. If such 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 shall be added to such state moneys.

Sec. 4. (Effective from passage) Said bonds issued pursuant to sections 1 to 4, inclusive, of this act, shall be special obligations of the state and shall not be payable from nor charged upon any funds other than revenues of the state pledged therefor in subsection (b) of section 13b-61 of the general statutes, as amended, and section 13b-69 of the general statutes, or such other receipts, funds or moneys as may be pledged therefore. Said bonds shall not be payable from nor charged upon any funds other than such pledged revenues or such other receipts, funds or moneys as may be pledged therefor nor shall the state of any political subdivision thereof be subject to any liability thereon, except to the extent of such pledged revenues or such other receipts, funds or moneys as may be pledged therefor. Said bonds shall be issued under and in accordance with the provisions of section 13b-74 to 13b-77, inclusive, of the general statutes, as amended.

Sec. 5. (Effective from passage) The Department of Transportation may solicit bids or qualifications in for equipment, materials or services for a project funded, in whole or in part, by the Transportation Strategy Board Project Account, established by section 113 of public act 03-1 of the June 30 special session, at any time in the fiscal year, notwithstanding the fact that all required funds may not be available for expenditure until later in the same or next succeeding fiscal year.