Bill Summary: SB 467 - Metropolitan District of Hartford County

• Amends debt computation rules so that consecutive bond issues where proceeds are held in escrow to pay off prior debt count as a single indebtedness for purposes of the district's 5% debt limitation.

• Requires the Auditors of Public Accounts to conduct annual audits of the Metropolitan District's books and accounts, rather than biennial audits.

• Grants commissioners appointed from nonmember towns (Glastonbury, South Windsor, East Granby, Farmington) voting rights on water rate approvals effective July 1, 2020.

• Establishes a task force to examine the district's organization and operations, including water rate increase procedures, potential Public Utilities Regulatory Authority oversight, and governance structure; task force must report findings by January 1, 2021.

• Requires the district to pay Riverfront Recapture, Inc. $1,250,000 in 2020 and incrementally reduce payments by equal amounts to $600,000 annually starting in 2025.