CT SB01034

State Bond Commission authorized to issue up to $100 million in bonds for brownfield remediation and development, with $25 million becoming available on each of July 1, 2019, 2020, 2021, and 2022.

Bond proceeds shall be used by the Department of Economic and Community Development for the brownfield remediation and development account established under section 32-762 of the general statutes.

Bonds are general obligations of the state with full faith and credit pledged for payment of principal and interest, with maturity not exceeding 20 years from issuance.

State Bond Commission must receive authorization request signed by the Secretary of the Office of Policy and Management stating required terms and conditions before authorizing any bonds.

Temporary notes may be issued in anticipation of bond sale proceeds and renewed as needed, with all provisions of section 3-20 of the general statutes applying to the authorized bonds.