AR HB1085

Appropriates $52,000,000 to the Office of the Treasurer of State from the College Savings Bond Fund for fiscal year 2014-2015, consisting of $20,000,000 for refunds/reimbursements and $32,000,000 for debt service on College Savings and Higher Education General Obligation Bonds.

Appropriates $68,000,000 to the Office of the Treasurer of State from the Water, Waste Disposal and Pollution Abatement Facilities Bond Fund for fiscal year 2014-2015, consisting of $40,000,000 for refunds/reimbursements and $28,000,000 for debt service.

Authorizes the State Treasurer to transfer funds from the Refunds/Reimbursement line item to the Debt Service line item if appropriations are insufficient to pay maturing bonds and interest.

Requires all fund disbursements to comply with state procurement law, accounting procedures, revenue stabilization law, salary restrictions, and other applicable fiscal control laws.

Declares an emergency clause making the act effective July 1, 2014, stating this effectiveness is essential to agency operations.