US Laws, Codes, Statutes & Cases

    I. The state treasurer shall report annually to the legislature, prior to the beginning of each session, on the state's outstanding bond obligations. The report shall describe in detail the bond issues which, in the state treasurer's judgment, could be redeemed prior to their stated date of maturity; the value of such issues; and the reasons why the state treasurer believes such issues should be redeemed prior to maturity.
    II. The state treasurer shall make recommendations for appropriate legislation relative to early redemption of the state's outstanding bond obligations.
    III. The legislature, upon receipt of the state treasurer's report, may appropriate funds for the purpose of debt redemption.

Source. 1986, 18:3, eff. July 1, 1987.