2005 Connecticut Code - Sec. 32-41. Bond issue.
Sec. 32-41. Bond issue. The State Bond Commission shall have power in accordance with the provisions of section 3-20 to authorize the issuance of bonds of the state
in one or more series and in principal amounts not exceeding in the aggregate forty-seven million eight hundred fifty-four thousand nine hundred dollars to carry out the
purposes of sections 32-32 to 32-41, inclusive. The principal and interest of said bonds
shall be payable at such place or places as may be determined by the State Treasurer
and shall bear such date or dates, mature at such time or times, bear interest at such rate
or different or varying rates, be payable at such time or times, be in such denominations,
be in such form with or without interest coupons attached, carry such registration and
transfer privileges, be payable in such medium of payment and be subject to such terms
of redemption with or without premium as, irrespective of the provisions of said section
3-20, may be provided by the authorization of the State Bond Commission or fixed in
accordance therewith. The proceeds of the sale of such bonds, after deducting therefrom
all expenses of issuance and sale, shall be paid to the Connecticut Innovations, Incorporated Fund created under section 32-41a. When the State Bond Commission has acted
to issue such bonds or a portion thereof, the Treasurer may, pending the issue of such
bonds, issue, in the name of the state, temporary notes in anticipation of the money to
be received from the sale of such bonds. In issuing the bonds authorized hereunder, the
State Bond Commission may require repayment of such bonds by the corporation as
shall seem desirable consistent with the purposes of sections 32-32 to 32-41, inclusive.
Such terms for repayment may include a forgiveness of interest, a holiday in the repayment of interest or principal or both.
History: P.A. 79-476 required payment of bond proceeds to Connecticut product development corporation fund rather than to the corporation; S.A. 80-41 reduced bond limit from ten million to six million dollars; P.A. 82-369 increased bond authorization from six million dollars to seven million dollars; P.A. 83-492 increased bond authorization from seven to eleven million; P.A. 84-443 increased authorization limit to thirteen million dollars; P.A. 85-558 increased bond authorization limit to fifteen million dollars; P.A. 86-396 increased bond authorization from fifteen million dollars to seventeen million five hundred thousand dollars; P.A. 87-405 increased the bond authorization from seventeen million five hundred thousand dollars to nineteen million two hundred fifty thousand dollars; P.A. 88-343 increased the bond authorization from nineteen million two hundred fifty thousand dollars to twenty-two million two hundred fifty thousand dollars; P.A. 89-245 changed Connecticut Product Development Corporation Fund to Connecticut Innovations, Incorporated Fund; P.A. 89-331 increased the bond authorization from twenty-two million two hundred fifty thousand dollars to twenty-six million two hundred fifty thousand dollars; P.A. 90-297 increased the bond authorization from twenty-six million two hundred fifty thousand dollars to twenty-eight million two hundred fifty thousand dollars; June Sp. Sess. P.A. 91-4 increased the bond authorization from twenty-eight million two hundred fifty thousand dollars to thirty-three million two hundred fifty thousand dollars; May Sp. Sess. P.A. 92-7 increased the bond authorization from thirty-three million two hundred fifty thousand dollars to thirty-eight million two hundred fifty thousand dollars; June Sp. Sess. P.A. 93-1 increased bond authorization from thirty-eight million two hundred fifty thousand dollars to forty-eight million two hundred fifty thousand dollars, effective July 1, 1993, provided five million dollars of said authorization shall be effective July 1, 1994; P.A. 95-272 increased authorization from forty-eight million two hundred fifty thousand dollars to fifty-eight million two hundred fifty thousand dollars, effective July 1, 1995, provided five million dollars shall be effective July 1, 1996; P.A. 98-203 decreased the bond authorization under this section to forty-eight million two hundred fifty thousand dollars and deleted an obsolete reference to previously authorized funds, effective June 8, 1998; P.A. 00-167 decreased the aggregate bond authorization from forty-eight million two hundred fifty thousand dollars to forty-seven million eight hundred fifty-four thousand nine hundred dollars, effective July 1, 2000.
See Sec. 32-41a re Connecticut Innovations, Incorporated Fund.
Cited. 167 C. 111, 113, 119.
Disclaimer: These codes may not be the most recent version. Connecticut may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
