CT HB06684

Extends the maximum maturity period for municipal bonds from 20 years to 30 years from the date of issuance, effective July 1, 2017.

Allows municipalities to issue refunding bonds with maturity dates up to 30 years if approved by a two-thirds vote of the municipality's fiscal authority, but only for bonds issued before July 1, 2019.

Exempts refunding bonds issued prior to July 1, 2021 from standard limitations on principal installments and maturity dates if they achieve net present value savings compared to the original bonds.

Maintains requirement that the first installment of bonds must mature within 3 years of issuance and establishes principal payment structures that substantially equalize annual principal and interest obligations.

Applies to all municipalities as defined in state general statutes and aims to assist urban municipalities in managing debt obligations.