§ 142-81 – Findings and purpose.
142-81. Findings and purpose. The General Assembly finds as follows: (1) There is a continuing need for capital facilities for the State, many of which will continue to be provided on a "pay-as-you-go" basis by direct appropriations. (2) The State will also continue to provide capital facilities through the issuance of general obligation bonds. (3) […]
§ 142-82 – Definitions.
142-82. Definitions. The following definitions apply in this Article: (1) Bonded indebtedness. – Limited obligation bonds and bond anticipation notes, including refunding bonds and notes, authorized to be issued under this Article. (2) Bonds or notes. – Limited obligation bonds and notes authorized to be issued under this Article. (2a) (Expires December 31, 2028 – […]
§ 142-83 – Authorization of special indebtedness; General Assembly approval.
142-83. Authorization of special indebtedness; General Assembly approval. (a) General Assembly Approval. – The State may incur or issue special indebtedness subject to the terms and conditions provided in this Article for the purpose of financing the cost of capital facilities that meet one of the following conditions: (1) The General Assembly has enacted legislation […]
§ 142-84 – Procedure for incurrence or issuance of special indebtedness.
142-84. Procedure for incurrence or issuance of special indebtedness. (a) Notice and Certificate. – Whenever the State or a State agency determines that special indebtedness is appropriate to finance capital facilities, it shall notify the Department of Administration. If the Department of Administration concurs, it shall provide written notice to the State Treasurer advising the […]
§ 142-85 – Security; other requirements.
142-85. Security; other requirements. (a) Security. – In order to secure (i) lease or installment payments to be made to the lessor, seller, or other person advancing moneys or providing financing under a financing contract, (ii) payment of the principal of and interest on bonded indebtedness, or (iii) payment obligations of the State to the […]
§ 142-86 – Financing contract indebtedness.
142-86. Financing contract indebtedness. (a) Documentation. – Financing contract indebtedness shall not be incurred until all documentation providing for its incurrence has been approved by the State Treasurer after the State Treasurer has consulted with the Department of Administration. (b) Interest Component. – A financing contract may provide for payments under the contract to represent […]
§ 142-87 – Additional requirements for certificates of participation indebtedness.
142-87. Additional requirements for certificates of participation indebtedness. (a) Documentation. – A financing contract shall not be used in connection with the delivery of certificates of participation by a special corporation until all documentation providing for its use has been approved by the State Treasurer after the State Treasurer has consulted with the Department of […]