Substitute Senate Bill No. 1050
         Substitute Senate Bill No. 1050

               SPECIAL ACT NO. 97-5


AN  ACT  CONCERNING  THE AUTHORIZATION OF BONDS OF
THE STATE FOR THE UNIVERSITY OF CONNECTICUT.


    Be  it  enacted  by  the  Senate  and House of
Representatives in General Assembly convened:
    Section  1.  (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  in  the  aggregate,  not  exceeding  nine
million four hundred thousand 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
University of Connecticut for the purpose  of  any
and  all costs associated with the renovations and
improvements to the  Babbidge  Library  and  plaza
deck.
    (c)  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  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 the Secretary of the Office of
Policy and Management or by or on behalf  of  such
state  officer,  department  or  agency 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
State  Treasurer  shall  pay  such  principal  and
interest as the same become due.
    Sec.  2.  This  act shall take effect from its
passage.

APPROVED April 18, 1997