There is a newer version of the Connecticut General Statutes
2009 Connecticut Code
Title 7 Municipalities
Chapter 117 Municipal Deficit Financing
Sec. 7-576. Referral of tier II municipality to Municipal Finance Advisory Commission. Three-year financial plan. Monthly reports.
Sec. 7-576. Referral of tier II municipality to Municipal Finance Advisory
Commission. Three-year financial plan. Monthly reports. Each tier II municipality
shall work with and report to the Municipal Finance Advisory Commission as provided
for in this section. The secretary shall refer to the Municipal Finance Advisory Commission any tier II municipality for the purpose of improving the fiscal condition of such
municipality. Such municipality shall prepare and present to the Municipal Finance
Advisory Commission for its review and approval a three-year financial plan and
monthly financial report in the manner prescribed by the Municipal Finance Advisory
Commission. In addition, in preparing and adopting its annual budgets, such municipality shall include assumptions respecting state revenues and property tax revenues as
approved by the Municipal Finance Advisory Commission. The Municipal Finance
Advisory Commission shall approve or disapprove all obligations issued by a tier II
municipality pursuant to section 7-575 and this section, inclusive, provided it shall only
approve such obligations which in its judgment improve the financial condition of such
municipality.(P.A. 93-421, S. 18, 22.)
History: P.A. 93-421 effective July 1, 1993.
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