§12-6A-1. Short Title

This article shall be known and may be cited as "The Debt Management Act".

§12-6A-2. Legislative Findings and Declaration of Public Necessity

The Legislature hereby finds and declares that in order to maintain the strong financial management of the state, to meet the fiscal needs of state government and to facilitate financing essential capital projects at the lowest possible cost to the citizens of the state, the state must regularly monitor the amount of debt issued by […]

§12-6A-3. Division of Debt Management Continued; Director

(a)The Division of Debt Management is continued in the office of the State Treasurer. (b) The Division shall serve as a central information source concerning the incurrence, recording and reporting of debt issued by the state and its spending units, and shall prepare reports pertaining to the capacity of the state and its spending units […]

§12-6A-4. Definitions

For the purpose of this article: "Debt" means bonds, notes, certificates of participation, certificate transactions, capital leases, debentures, lease purchases, mortgages, securitizations and all other forms of securities and indebtedness obligations evidencing specific amounts owed and payable on demand or on determinable dates. "Debt impact report" means a report prepared by the division which includes […]

§12-6A-5. Powers and Duties

The Division of Debt Management shall perform the following functions and duties: (1) Continuously evaluate the current and projected debt and debt service requirements of the State and its spending units.

§12-6A-6. Reporting

(a) Within fifteen days following the end of each calendar quarter, each state spending unit shall provide the division and the Legislative Auditor, in the manner provided by this article and in such form and detail as the State Treasurer may require, a report including, but not limited to, the name of the state spending […]

§12-6A-7. Promulgation of Rules

The Treasurer shall propose rules for legislative approval relating to the reporting requirements and duties under this article in accordance with the provisions of article three, chapter twenty-nine-a of this code.