CHAPTER 422a
AGRICULTURAL LANDS

Table of Contents

Sec. 22-26hh. State bonds authorized for purposes of this chapter.

      Sec. 22-26hh. State bonds authorized for purposes of this chapter. The State Bond Commission shall have 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 one hundred fifty million two hundred fifty thousand dollars, the proceeds of which shall be used for the purposes of section 22-26cc, provided not more than ten million dollars of said authorization shall be effective July 1, 2012, and further provided not more than two million dollars shall be used for the purposes of section 22-26jj. All provisions of section 3-20, 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 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. 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 general obligations 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 Treasurer shall pay such principal and interest as the same become due.

      (P.A. 78-232, S. 10, 11; P.A. 79-499; P.A. 80-441, S. 1, 4; P.A. 81-370, S. 6, 13; P.A. 82-369, S. 9, 28; June Sp. Sess. P.A. 83-33, S. 10, 17; P.A. 84-443, S. 11, 20; 84-546, S. 65, 173; P.A. 85-558, S. 13, 17; P.A. 86-396, S. 18, 25; P.A. 87-405, S. 18, 26; P.A. 88-343, S. 12, 32; P.A. 89-331, S. 19, 30; P.A. 90-297, S. 11, 24; May Sp. Sess. P.A. 92-7, S. 13, 36; June Sp. Sess. P.A. 93-1, S. 11, 45; P.A. 95-272, S. 10, 29; P.A. 96-181, S. 107, 121; P.A. 97-234, S. 7; June 5 Sp. Sess. P.A. 97-1, S. 14, 20; P.A. 98-259, S. 10, 17; P.A. 99-241, S. 12, 66; P.A. 00-203, S. 10, 11; June Sp. Sess. P.A. 00-1, S. 24, 46; June Sp. Sess. P.A. 01-7, S. 5, 28; June Sp. Sess. P.A. 01-9, S. 94, 131; May Sp. Sess. P.A. 04-1, S. 19; June Sp. Sess. P.A. 05-5, S. 9; June Sp. Sess. P.A. 07-7, S. 49; Sept. Sp. Sess. P.A. 09-2, S. 69; P.A. 11-57, S. 71.)

      History: P.A. 79-499 increased bond authorization from $5,050,000 to $7,050,000; P.A. 80-441 increased bond authorization to $9,050,000; P.A. 81-370 increased the aggregate of bonds the bond commission may authorize for purposes of chapter 422a to $9,250,000; P.A. 82-369 increased bond authorization to $9,750,000; June Sp. Sess. P.A. 83-33 increased bond authorization to $14,750,000; P.A. 84-443 increased authorization limit to $19,750,000; P.A. 84-546 made technical change, substituting reference to Sec. 22-26dd for reference to Sec. 22-210dd; P.A. 85-558 increased the bond authorization limit to $22,750,000; P.A. 86-396 increased bond authorization to $28,750,000; P.A. 87-405 increased the bond authorization to $36,750,000; P.A. 88-343 increased the bond authorization to $44,750,000; P.A. 89-331 increased the bond authorization to $52,750,000; P.A. 90-297 increased the bond authorization to $62,750,000 and required that the secretary of office of policy and management rather than agriculture commissioner sign authorization request; May Sp. Sess. P.A. 92-7 increased the bond authorization to $66,250,000 and set forth a limit of $2,000,000 of that amount for Sec. 22-26jj; June Sp. Sess. P.A. 93-1 amended section to increase bond authorization to $76,250,000, effective July 1, 1993, provided $5,000,000 of said authorization shall be effective July 1, 1994; P.A. 95-272 increased authorization amount to $82,250,000, effective July 1, 1995, provided $3,000,000 shall be effective July 1, 1996; P.A. 96-181 decreased aggregate amount from $82,250,000 to $78,250,000 and removed proviso re amount effective July 1, 1996, effective July 1, 1996; P.A. 97-234 deleted reference to repealed Sec. 22-26ee; June 5 Sp. Sess. P.A. 97-1 increased bond authorization from $78,250,000 to $80,250,000 provided $1,000,000 is effective July 1, 1998, effective July 31, 1997; P.A. 98-259 increased authorization to $82,750,000 provided $3,500,000 of said authorization was effective July 1, 1998, deleted proviso re use for purposes of Sec. 22-26dd and made technical change, effective July 1, 1998; P.A. 99-241 increased authorization to $83,750,000, effective July 1, 1999; P.A. 00-203 designated existing language as Subsec. (a) and added new Subsec. (b) requiring the State Bond Commission to authorize issuance of balance of bonds previously authorized but not allocated, effective June 7, 2000, and applicable to all open space land donations made on or after the income year commencing January 1, 1999; June Sp. Sess. P.A. 00-1 repealed said Subsec. (b), effective June 21, 2000; June Sp. Sess. P.A. 01-7 increased authorization from $83,750,000 to $87,750,000 provided $2,000,000 is effective July 1, 2002, effective July 1, 2001; June Sp. Sess. P.A. 01-9 changed "section 22-26dd" to "section 22-26cc", effective July 1, 2001; May Sp. Sess. P.A. 04-1 increased bond authorization to $89,750,000 and made $2,000,000 of said authorization effective July 1, 2004, effective July 1, 2004; June Sp. Sess. P.A. 05-5 increased the aggregate authorization to $107,750,000, of which $10,000,000 is effective July 1, 2006, effective July 1, 2005; June Sp. Sess. P.A. 07-7 increased aggregate authorization from $107,750,000 to $117,750,000, of which $5,000,000 is effective July 1, 2008, effective November 2, 2007; Sept. Sp. Sess. P.A. 09-2 increased aggregate authorization from $117,750,000 to $130,250,000, of which $10,000,000 is effective July 1, 2010, effective September 25, 2009; P.A. 11-57 increased aggregate authorization from $130,250,000 to $150,250,000, of which $10,000,000 is effective July 1, 2012, effective July 1, 2011.

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