§ 142-100 – Purpose.
142-100. Purpose. The purpose of this Article is to provide tools for sound debt management by providing an annual debt affordability study to establish guidelines for maintaining prudent debt levels and by establishing a system for prioritizing State capital needs when the needs exceed the State’s capacity for new debt. (2004-179, s. 5.1.)
§ 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 […]
§ 142-69 – Other agreements.
142-69. Other agreements. The State Treasurer may authorize, execute, obtain, or otherwise provide for bond insurance, investment contracts, credit and liquidity facilities, credit enhancement facilities, interest rate swap agreements and other derivative products, and any other related instruments and matters the State Treasurer determines are desirable in connection with entering into financing contracts and issuing […]
§ 142-70 – Investment eligibility.
142-70. Investment eligibility. Financing contracts entered into pursuant to this Article, and any certificates of participation relating to them, are securities or obligations in which all of the following may invest, including capital in their control or belonging to them: public officers, agencies, and public bodies of the State and its political subdivisions; insurance companies, […]
§ 142-80 – Short title.
142-80. Short title. This Article may be cited as the State Capital Facilities Finance Act. (2003-284, s. 46.2; 2003-314, s. 1; 2004-203, s. 79.)
§ 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 – […]