House Bill No. 7503
House Bill No. 7503
June 5 Special Session, PUBLIC ACT NO. 97-2
AN ACT CONCERNING THE AUTHORIZATION OF SPECIAL TAX
OBLIGATION BONDS OF THE STATE FOR CERTAIN
TRANSPORTATION PURPOSES.
Be it enacted by the Senate and House of
Representatives in General Assembly convened:
Section 1. The State Bond Commission shall
have power, in accordance with the provisions of
sections 1 to 6, inclusive, of this act, from time
to time to authorize the issuance of special tax
obligation bonds of the state in one or more
series and in principal amounts in the aggregate,
not exceeding $135,825,000.
Sec. 2. The proceeds of the sale of said
bonds to the extent hereinafter stated, shall be
used 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 hereinafter
described, which projects and uses are hereby
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.
For the Department of Transportation:
(a) For the Bureau of Highways:
(1) Interstate Highway Program, not exceeding
$11,500,000;
(2) Urban Systems Projects, not exceeding
$12,000,000;
(3) Intrastate Highway Program, not exceeding
$31,500,000;
(4) Soil, water supply and groundwater
remediation at or in the vicinity of various
maintenance facilities and former disposal areas,
not exceeding $6,000,000;
(5) State bridge improvement, rehabilitation
and replacement projects, not exceeding
$20,000,000.
(b) For the Bureau of Aviation and Ports:
(1) Reconstruction and improvements to the
warehouse and State Pier, New London including
site improvements and improvements to ferry slips,
not exceeding $200,000;
(2) Development and improvements of general
aviation airport facilities including
grants-in-aid to municipal airports (excluding
Bradley International Airport), not exceeding
$5,000,000.
(c) For the Bureau of Public Transportation:
Bus and rail facilities and equipment, including
rights-of-way, other property acquisition and
related projects, not exceeding $34,000,000.
(d) Cost of issuance of special tax
obligation bonds and debt service reserve, not
exceeding $15,625,000.
Sec. 3. None of said bonds shall be
authorized 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 one 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 colocation 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 farmland required pursuant to subsection
(g) of section 3-20 of the general statutes and
section 22-6 of the general statutes, 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. 4. For the purposes of sections 1 to 6,
inclusive, of this act, each request filed as
provided in section 3 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 3, 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 from the proceeds of bonds and temporary
notes issued in anticipation of the receipt of the
proceeds of bonds. 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 shall be added to
such state moneys.
Sec. 5. Any balance of proceeds of the sale
of said bonds authorized for the projects or
purposes of section 2 of this act, in excess of
the aggregate costs of all the projects so
authorized shall be used in the manner set forth
in sections 13b-74 to 13b-77, inclusive, of the
general statutes, and in the proceedings of the
State Bond Commission respecting the issuance and
sale of said bonds.
Sec. 6. Said bonds issued pursuant to
sections 1 to 6, 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 and section 13b-69 of the general
statutes, or such other receipts, funds or moneys
as may be pledged therefor. 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 or 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 sections
13b-74 to 13b-77, inclusive, of the general
statutes.
Sec. 7. The State Bond Commission shall have
power, in accordance with the provisions of this
act, from time to time to authorize the issuance
of special tax obligation bonds of the state in
one or more series and in principal amounts in the
aggregate, not exceeding $137,500,000.
Sec. 8. The proceeds of the sale of said
bonds to the extent hereinafter stated, shall be
used 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 hereinafter
described, which projects and uses are hereby
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.
For the Department of Transportation:
(a) For the Bureau of Highways:
(1) Interstate Highway Program, not exceeding
$11,500,000;
(2) Urban Systems Projects, not exceeding
$12,000,000;
(3) Intrastate Highway Program, not exceeding
$31,500,000;
(4) Soil, water supply and groundwater
remediation at or in the vicinity of various
maintenance facilities and former disposal areas,
not exceeding $6,000,000;
(5) State bridge improvement, rehabilitation
and replacement projects, not exceeding
$20,000,000.
(b) For the Bureau of Aviation and Ports:
(1) Reconstruction and improvements to the
warehouse and State Pier, New London including
site improvements and improvements to ferry slips,
not exceeding $300,000;
(2) Development and improvements of general
aviation airport facilities including
grants-in-aid to municipal airports (excluding
Bradley International Airport), not exceeding
$2,000,000.
(c) For the Bureau of Public Transportation:
Bus and rail facilities and equipment, including
rights-of-way, other property acquisition and
related projects, not exceeding $34,000,000.
(d) Cost of issuance of special tax
obligation bonds and debt service reserve, not
exceeding $20,200,000.
Sec. 9. None of said bonds shall be
authorized 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 colocation 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 farmland required pursuant to subsection
(g) of section 3-20 of the general statutes and
section 22-6 of the general statutes, 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. 10. For the purposes of sections 7 to
12, inclusive, of this act, each request filed as
provided in section 9 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 9, 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 from the proceeds of bonds and temporary
notes issued in anticipation of the receipt of the
proceeds of bonds. 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 shall be added to
such state moneys.
Sec. 11. Any balance of proceeds of the sale
of said bonds authorized for the projects or
purposes of section 8 of this act, in excess of
the aggregate costs of all the projects so
authorized shall be used in the manner set forth
in sections 13b-74 to 13b-77, inclusive, of the
general statutes, and in the proceedings of the
State Bond Commission respecting the issuance and
sale of said bonds.
Sec. 12. Said bonds issued pursuant to
sections 7 to 12, 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 and section
13b-69 of the general statutes, or such other
receipts, funds or moneys as may be pledged
therefor. 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 or
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 sections 13b-74 to 13b-77,
inclusive, of the general statutes.
Sec. 13. The State Bond Commission shall have
power, in accordance with the provisions of this
act, from time to time to authorize the issuance
of special tax obligation bonds of the state in
one or more series and in principal amounts in the
aggregate, not exceeding $9,000,000 for capital
resurfacing and related reconstruction projects.
Sec. 14. The proceeds of the sale of said
bonds to the extent hereinafter stated, shall be
used 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 hereinafter
described, which projects and uses are hereby
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. Any
proceeds of the bonds shall be used by the
Department of Transportation for the Bureau of
Highways for capital resurfacing and related
reconstruction projects.
Sec. 15. None of said bonds shall be
authorized 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 colocation 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 farmland required pursuant to subsection
(g) of section 3-20 of the general statutes, and
section 22-6 of the general statutes, 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. 16. For the purposes of sections 13 to
16, inclusive, of this act, each request filed as
provided in section 15 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 15, 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 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 shall be added to such state moneys.
Sec. 17. Said bonds issued pursuant to
sections 13 to 17, 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 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 or 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.
Sec. 18. The State Bond Commission shall have
power, in accordance with the provisions of this
act, from time to time to authorize the issuance
of special tax obligation bonds of the state in
one or more series and in principal amounts in the
aggregate, not exceeding $49,000,000 for capital
resurfacing and related reconstruction projects.
Sec. 19. The proceeds of the sale of said
bonds to the extent hereinafter stated, shall be
used 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 hereinafter
described, which projects and uses are hereby
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. Any
proceeds of the bonds shall be used by the
Department of Transportation for the Bureau of
Highways for capital resurfacing and related
reconstruction projects.
Sec. 20. None of said bonds shall be
authorized 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 colocation 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 farmland required pursuant to subsection
(g) of section 3-20 of the general statutes and
section 22-6 of the general statutes, 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 authorized
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. 21. For the purposes of sections 18 to
22, inclusive, of this act, each request filed as
provided in section 20 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 20, 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 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 shall be added to such state moneys.
Sec. 22. Said bonds issued pursuant to
sections 18 to 22, 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 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 or any political subdivision
thereof be subject to any liability thereon,
except to the extent of such pledged revenues or
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 sections 13b-74 to 13b-77,
inclusive, of the general statutes.
Sec. 23. Section 3-21c of the general
statutes is repealed and the following is
substituted in lieu thereof:
Notwithstanding any general statute, public
act or special act, upon a determination by the
Treasurer and approval by the State Bond
Commission that unexpended proceeds of
transportation related general obligation bonds of
the state issued pursuant to section 3-20 and
accounted for in a general obligation bond fund of
the state established by the Treasurer are no
longer required for any of the purposes or
projects funded or remaining to be funded from
amounts in such bond fund, the Treasurer is
authorized to transfer all or any portion of said
unexpended bond proceeds from such bond fund for
further credit to the [Infrastructure Improvement]
SPECIAL TRANSPORTATION Fund of the state
established [under the master indenture for the
issuance of state of Connecticut special tax
obligation bonds] PURSUANT TO SECTION 13b-68, AS
AMENDED BY SECTION 24 OF THIS ACT, provided the
debt service on the bonds from which such
[unexpected] UNEXPENDED proceeds were derived is
otherwise [paid] PAYABLE from the Special
Transportation Fund AS PERMITTED BY SECTION 13b-69
and provided further the Treasurer shall determine
that such transfer shall not adversely affect the
exclusion from gross income of the interest on the
bonds from which such [unexpected] UNEXPENDED
proceeds are derived, pursuant to Section 103 of
the Internal Revenue Code of 1986 or any
corresponding internal revenue code of the United
States, as from time to time amended.
Sec. 24. Section 13b-68 of the general
statutes, as amended by section 3 of public act
97-309, is repealed and the following is
substituted in lieu thereof:
(a) There is established and created a fund
to be known as the "Special Transportation Fund".
The fund may contain any moneys required OR
PERMITTED by law to be deposited in the fund AND
ANY MONEYS RECOVERED BY THE STATE FOR
OVERPAYMENTS, IMPROPER PAYMENTS OR DUPLICATE
PAYMENTS MADE BY THE STATE RELATING TO ANY
TRANSPORTATION INFRASTRUCTURE IMPROVEMENTS WHICH
HAVE BEEN FINANCED BY SPECIAL TAX OBLIGATION BONDS
ISSUED PURSUANT TO SECTIONS 13b-74 TO 13b-77,
INCLUSIVE, and shall be held by the State
Treasurer separate and apart from all other
moneys, funds and accounts. Investment earnings
credited to the assets of said fund shall become
part of the assets of said fund. Any balance not
exceeding twenty million dollars remaining in said
fund at the end of any fiscal year shall be
carried forward in said fund for the fiscal year
next succeeding.
(b) After the accounts for the Special
Transportation Fund have been closed for each
fiscal year and the State Comptroller has
determined the balance remaining in said fund, and
after any amounts required by provision of law to
be transferred for other purposes have been
deducted, the amount of such balance which exceeds
twenty million dollars shall be used by the State
Treasurer and shall be deemed to be appropriated
for: (1) Redeeming prior to maturity any
outstanding special tax obligation indebtedness of
the state selected by the State Treasurer in the
best interests of the state; (2) purchasing
outstanding special tax obligation indebtedness of
the state in the open market at such prices and on
such terms and conditions as the State Treasurer
shall determine to be in the best interests of the
state for the purpose of extinguishing or
defeasing such debt; (3) providing for the
defeasance of any outstanding special tax
obligation indebtedness of the state selected by
the State Treasurer in the best interests of the
state by irrevocably placing with an escrow agent
in trust an amount to be used solely for, and
sufficient to satisfy, scheduled payments of both
interest and principal on such indebtedness; (4)
paying or providing for the payment in the fiscal
year ending June 30, 1999, or any fiscal year
thereafter of debt service requirements, as
defined in section 13b-75, at such time or times,
in such amount or amounts and in such manner, as
provided by the proceedings authorizing the
issuance of special tax obligation bonds pursuant
to sections 13b-74 to 13b-77, inclusive; or (5)
any combination of these methods.
Sec. 25. This act shall take effect from its
passage, except that sections 18 to 22, inclusive,
shall take effect May 1, 1998 and sections 7 to
12, inclusive, shall take effect July 1, 1998.
Approved July 23, 1997