Sec. 15-101m. Management of airport. (a) Commissioner to establish rates,
rents, fees and charges. Exception. Subject to the provisions of the general statutes
and resolution authorizing the issuance of bonds pursuant to subsection (a) of section
15-101l, the Commissioner of Transportation is authorized to fix, revise, charge and
collect rates, rents, fees and charges for the use of and for the services furnished or to
be furnished by the facilities of Bradley International Airport and to contract with any
person, partnership, association or corporation, or other body, public or private, in respect thereof except that, the commissioner shall not impose any fee, charge or commission on the gross revenues of off-airport parking operators for the right to access said
airport that exceeds five per cent of such gross revenues for calendar quarters commencing on or after July 1, 1997, and prior to July 1, 1998, and four per cent of such gross
revenues for calendar quarters commencing on or after July 1, 1998. Such rates, rents,
fees and charges shall be fixed and adjusted in respect of the aggregate of rates, rents,
fees and charges from the operation of Bradley International Airport so as to provide
funds sufficient with other revenues or moneys available therefor, if any, (1) to pay the
cost of maintaining, repairing and operating the facilities of Bradley International Airport and each and every portion thereof, to the extent that the payment of such cost has
not otherwise been adequately provided for, (2) to pay the principal of and the interest
on any outstanding revenue obligations of the state issued in respect of the project as
the same shall become due and payable and (3) to create and maintain reserves and
sinking funds required or provided for in any resolution authorizing, or trust agreement
securing, such bonds. A sufficient amount of the revenues as may be necessary to pay
the cost of maintenance, repair and operation and to provide reserves and for renewals,
replacements, extensions, enlargements and improvements as may be provided for in
the resolution authorizing the issuance of any bonds or in the trust agreement securing
the same, shall be set aside at such regular intervals as may be provided in such resolution
or trust agreement in a reserve, sinking or other similar fund which is hereby pledged
to, and charged with, the payment of the principal of and the interest on such bonds as
the same shall become due, and the redemption price or the purchase price of bonds
retired by call or purchase as therein provided. The use and disposition of moneys to
the credit of such reserve, sinking or other similar fund shall be subject to the provisions
of the resolution authorizing the issuance of such bonds or of such trust agreement.
(b) Designation of fiscal year. Annual operating budget. Personnel. The Department of Transportation shall designate the beginning and ending dates of the fiscal year
for the operation of Bradley International Airport. Each year, within ninety days prior
to the beginning of the next ensuing fiscal year, the Department of Transportation shall
prepare and submit to the Secretary of the Office of Policy and Management an annual
operating budget for Bradley International Airport for such fiscal year, providing for
(1) payment of the costs of maintaining, repairing and operating the facilities of Bradley
International Airport and each and every portion thereof during such fiscal year, to the
extent that the payment of such costs has not otherwise been adequately provided for,
(2) the payment of the principal of and interest on any outstanding revenue obligations
of the state issued in respect of the project and becoming due and payable in such fiscal
year and (3) the creation and maintenance of reserves and sinking funds required or
provided for in any resolution authorizing, or trust agreement securing, such bonds.
Such annual operating budget shall include an estimate of revenues from the rates, rents,
fees and charges fixed by the Department of Transportation pursuant to subsection (a),
and from any and all other sources, to meet the estimated expenditures of Bradley International Airport for such fiscal year. Within thirty days prior to the first day of such
fiscal year the Secretary of the Office of Policy and Management shall approve said
annual operating budget, with such changes, amendments, additions and deletions as
shall be agreed upon prior to that date by the Department of Transportation and the
Secretary of the Office of Policy and Management. The annual operating budget of
Bradley International Airport as so approved shall take effect as of the date of its approval. On or before the twentieth day of each month, including the month next preceding
the first month of the fiscal year to which the annual operating budget applies, the
Treasurer or the trustee under any trust indenture securing the bonds issued under subsection (a) of section 15-101l shall pay to the Department of Transportation out of the funds
available for such purpose such amount as may be necessary to make the amount then
held by said department for the payment of operating expenses of Bradley International
Airport equal to such amount as shall be necessary for the payment of such operating
expenses during the next ensuing two months, as shown by the annual operating budget
for such fiscal year. Except as otherwise provided in sections 15-101k to 15-101p, inclusive, either expressly or by implication, all provisions of the general statutes governing
state employees and state property, and all other provisions of the general statutes applicable to Bradley International Airport, shall continue in effect. All pension, retirement
or other similar benefits vested or acquired at any time before or after July 1, 1981, with
respect to any state employees shall continue unaffected and as if the salaries and wages
of such employees continued to be paid out of the general funds of the state.
(c) Operating budget submitted to General Assembly committee. On the day
the Department of Transportation submits an annual operating budget for Bradley International Airport to the Secretary of the Office of Policy and Management pursuant to
subsection (b) of this section, the department shall submit a copy of such budget to the
joint standing committee of the General Assembly having cognizance of matters relating
to appropriations and the budgets of state agencies, through the legislative Office of
Fiscal Analysis. Upon the approval of the annual operating budget, the department shall
submit a copy of the budget as so approved to said joint standing committee, through
the Office of Fiscal Analysis.
(P.A. 81-406, S. 5, 10; P.A. 91-334, S. 1, 3; P.A. 97-269, S. 1, 2.)
History: Section effective from date of first issuance of bonds or notes pursuant to Sec. 15-101l or 15-101n; P.A. 91-334 added Subsec. (c) re submittal of airport's annual operating budget to general assembly committee, through office of
fiscal analysis; P.A. 97-269 amended Subsec. (a) to add exception re access fees for off-airport parking operators at Bradley
International Airport, effective July 1, 1997.
Sec. 15-101n. Refunding bonds. Bond anticipation notes. (a) Any bonds issued
under the provisions of section 15-101l or to refund any such bonds issued under such
section, and at any time outstanding may at any time from time to time be refunded by
the state by the issuance of its refunding bonds in such amounts as the State Bond
Commission may deem necessary, but not exceeding an amount sufficient to refund the
principal of the bonds to be so refunded, any unpaid interest thereon and any premiums
and commissions necessary to be paid in connection therewith and to pay costs and
expenses which the Treasurer may deem necessary or advantageous in connection with
the authorization, sale and issuance of refunding bonds. Any such refunding may be
effected whether the bonds to be refunded shall have matured or shall thereafter mature.
All refunding bonds issued hereunder shall be payable and shall be subject to and may
be secured in accordance with the provisions of section 15-101l.
(b) Whenever the State Bond Commission has adopted a resolution authorizing
bonds pursuant to section 15-101l, the Treasurer may, pending the issue of such bonds,
issue, in the name of the state, temporary notes and any renewals thereof in anticipation
of the proceeds from the sale of such bonds, which notes and any renewals thereof shall
be designated "Bond Anticipation Notes". Such portion of the proceeds from the sale
of such bonds as may be so required shall be applied to the payment of the principal of
and interest on any such bond anticipation notes which have been issued. The principal
of and interest on any bond anticipation notes issued pursuant to this subsection may
be repaid from pledged revenues or other receipts, funds or moneys pledged to the
repayment of the bonds in anticipation of which the bond anticipation notes are issued,
to the extent not paid from the proceeds of renewals thereof or of the bonds.
(P.A. 81-406, S. 6, 10; P.A. 87-396, S. 3; June Sp. Sess. P.A. 01-5, S. 13, 18.)
History: P.A. 87-396 amended Subsec. (a) by authorizing the payment of costs and expenses which the treasurer may
deem necessary or advantageous and amended Subsec. (b) by authorizing the payment of the principal and interest on any
bond anticipation notes from pledged revenue or other receipts, funds or moneys pledged to the repayment of the bonds
in anticipation of which the bond anticipation notes are issued, to the extent not paid from the proceeds of renewals thereof
or of the bonds; June Sp. Sess. P.A. 01-5 changed references to Sec. 15-101l(a) to Sec. 15-101l in Subsecs. (a) and (b) and
amended Subsec. (a) by adding provision re refunds of any bonds issued under Sec. 15-101l and deleting provision requiring
that refunding bonds be payable "solely from the revenues out of which the bonds to be refunded thereby are payable",
effective June 2, 2001.
Sec. 15-101o. Notes and bonds to be tax-exempt. Legal securities. (a) It is hereby
determined that the purposes of sections 15-101k to 15-101p, inclusive, are public purposes and that the state will be performing an essential governmental function in the
exercise of the powers conferred upon it hereunder. The state covenants with the purchasers and all subsequent holders and transferees of notes and bonds issued by the state
pursuant to sections 15-101l and 15-101n, in consideration of the acceptance of and
payment for the notes and bonds, that the principal and interest of such notes and bonds
shall at all times be free from taxation, except for estate and gift taxes, imposed by the
state or by any political subdivision thereof but the interest on such notes and bonds
shall be included in the computation of any excise or franchise tax. The Treasurer is
authorized to include this covenant of the state in any agreement with the holder of such
notes or bonds. Any notes or bonds issued by the state pursuant to sections 15-101l and
15-101n may be issued on a basis that provides that the interest thereon is intended to
be exempt or not to be exempt from federal income taxation, as may be determined by
the Treasurer.
(b) Bonds issued under the authority of section 15-101l are hereby made securities
in which all public officers and public bodies of the state and its political subdivisions,
all insurance companies, credit unions, building and loan associations, investment companies, banking associations, trust companies, executors, administrators, trustees and
other fiduciaries and pension, profit-sharing and retirement funds may properly and
legally invest funds, including capital in their control or belonging to them. Such bonds
are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the
state for any purpose for which the deposit of bonds or obligations of the state is now
or may hereafter, be authorized by law.
(P.A. 81-406, S. 7, 10; P.A. 89-331, S. 14, 30; June Sp. Sess. P.A. 01-5, S. 14, 18.)
History: P.A. 89-331 clarified the exemption from taxation of the principal and interest of the bonds; June Sp. Sess.
P.A. 01-5 amended Subsec. (a) by adding provision re interest on notes and bonds to be included in the computation of
excise or franchise tax and adding provision re notes and bonds issued by the state pursuant to Secs. 15-101l and 15-101n,
and amended Subsec. (b) by changing reference to Sec. 15-101l(a) to Sec. 15-101l, effective July 2, 2001.
Sec. 15-101p. (Formerly Sec. 15-101). Airport revenues held in trust. Separate
account. Contract with holders of notes or bonds. All revenue from the operation of
Bradley International Airport shall be paid to the State Treasurer to be held in trust, and
the Treasurer shall not commingle such moneys with any other moneys. Such moneys
shall be deposited in a separate account or accounts in banks or trust companies organized
under the law of the state or in national banking associations doing business in the state,
provided that the Treasurer shall have power to contract with the holders of any notes
or bonds issued pursuant to section 15-101l or 15-101n, or with a trustee acting pursuant
to a trust indenture for the benefit of such holders, as to the custody, collection, securing,
investment and application of the proceeds of such notes and bonds and of the revenue
from the operation of Bradley International Airport, and to carry out such contracts.
Such account or accounts shall constitute a separate nonlapsing enterprise fund to be
known as the "Bradley Enterprise Fund".
(1949 Rev., S. 4844; 1949, S. 2430d; P.A. 81-406, S. 8, 10; June Sp. Sess. P.A. 01-5, S. 15, 18.)
History: P.A. 81-406 provided that all funds derived from the operation of the airport are to be held in trust and deposited
in a separate account and authorized the treasurer to contract with the holders of any notes or bonds issued pursuant to this
chapter where previous provisions required payment of all revenues into general fund and required payment of principal
and interest on bonds from general fund effective from date of first issuance of bonds or note pursuant to Sec. 15-101l or
15-101n; Sec. 15-101 transferred to Sec. 15-101p in 1983; June Sp. Sess. P.A. 01-5 added provision re account or accounts
to constitute a separate nonlapsing enterprise fund to be known as the Bradley Enterprise Fund, effective July 2, 2001.
Annotation to former section 15-101:
Bradley Field is state property and suits against it are subject to governmental immunity. 18 CS 373.