History: 1971 acts changed bond limit from one hundred sixty million to two hundred forty-one million seven hundred
fifty-five thousand dollars, deleted reference to Sec. 10-287 and to repealed Sec. 10-287b and further increased limit to
three hundred sixteen million seven hundred fifty-five thousand dollars in June session; 1972 act included references to
Subdiv. (a) of Sec. 10-65 and to Sec. 10-76e and increased bond limit to three hundred ninety-three million eight hundred
eighty thousand dollars; P.A. 73-286 increased limit to four hundred thirteen million eight hundred eighty thousand dollars;
P.A. 76-418 included in provisions authorization for grants to remedy safety and health violations and damage from fire
and catastrophe, required appropriation of amounts necessary to make punctual payments in contracts between state and
bondholders and increased limit to five hundred four million dollars; P.A. 79-591 increased limit to five hundred nine
million dollars; P.A. 80-317 specified authorization for grants for projects whose final plans and specifications were
approved before January 1, 1980, pursuant to sections enumerated; S.A. 80-41 increased limit to five hundred fourteen
million dollars; P.A. 84-443 decreased authorization limit to five hundred eleven million dollars; P.A. 87-405 decreased
the bond authorization from five hundred eleven million dollars to five hundred ten million dollars; P.A. 88-343 removed
the January 1, 1980 ending date and increased the bond authorization from five hundred ten million dollars to five hundred
forty-eight million dollars; P.A. 89-1 authorized the state treasurer to issue bonds for the purposes of grants for projects
approved pursuant to Sec. 10-287; P.A. 89-331 increased the bond authorization from five hundred forty-eight million
dollars to five hundred eighty-six million dollars; P.A. 90-297 increased the bond authorization from five hundred eighty-six million dollars to six hundred fifty-nine million dollars; June Sp. Sess. P.A. 91-4 increased the bond authorization from
six hundred fifty-nine million dollars to eight hundred seven million dollars; May Sp. Sess. P.A. 92-7 increased the bond
authorization from eight hundred seven million dollars to nine hundred nineteen million dollars; June Sp. Sess. P.A. 93-1 increased bond authorization from nine hundred nineteen million dollars to one billion one hundred eighty-six million
one hundred thousand dollars, effective July 1, 1993, provided one hundred thirty-eight million dollars of said authorization
shall be effective July 1, 1994; P.A. 95-272 increased authorization amount from one billion one hundred eighty-six million
one hundred thousand dollars to one billion four hundred forty-six million one hundred thousand dollars, effective July 1,
1995, provided thirty million dollars shall be effective July 1, 1996; P.A. 97-265 increased the cap for bonding and the
amount of authorization that shall be effective July 1, 1998, effective July 1, 1997; P.A. 98-259, effective July 1, 1998,
increased authorization from $1,699,560,000 to $1,749,560,000 provided $184,810,000 of said authorization is effective
July 1, 1998; P.A. 99-4 increased authorization from $1,749,560,000 to $1,801,560,000, effective April 9, 1999; P.A. 99-241 increased authorization from 1,801,560,000 to $2,511,360,000, effective July 1, 1999, provided $339,000,000 is
effective July 1, 2000; P.A. 99-281 designated existing provisions as Subdivs. (1) and (2) and added Subdiv. (3) re regional
vocational-technical school projects, effective July 1, 1999; P.A. 00-167 increased the aggregate bond authorization from
$2,511,360,000 to $2,565,360,000, effective July 1, 2000, of which $393,000,000 is effective July 1, 2000; June Sp. Sess.
P.A. 01-7 increased authorization from $2,565,360,000 to $3,158,360,000 provided $450,000,000 is effective July 1, 2002,
effective July 1, 2001; May 9 Sp. Sess. P.A. 02-5 decreased the aggregate bond authorization from $3,158,360,000 to
$3,108,360,000, effective July 1, 2002, of which $20,000,000 is effective July 1, 2003; Sept. 8 Sp. Sess. P.A. 03-2 increased
the aggregate bond authorization from $3,108,360,000 to $3,546,360,000, effective September 10, 2003, of which
$458,000,000 is effective July 1, 2003; May Sp. Sess. P.A. 04-1 increased the aggregate authorization to $4,171,860,000
and provided that $625,500,000 of said authorization is effective July 1, 2004, effective July 1, 2004; June Sp. Sess. P.A.
05-5 increased the aggregate authorization from $4,171,860,000 to $5,401,860,000, of which $650,000,000 is effective
July 1, 2006, effective July 1, 2005.
Sec. 10-292k. Bond issue for interest subsidy grants. For purposes of funding
interest subsidy grants, except for interest subsidy grants made pursuant to subsection
(b) of section 10-292m, the State Treasurer is authorized and directed, subject to and
in accordance with the provisions of section 3-20, to issue bonds of the state from time
to time in one or more series in an aggregate amount not exceeding two hundred eighty-one million one hundred thousand dollars, provided twenty-five million dollars of said
authorization shall be effective July 1, 2006. Bonds of each series shall bear such date
or dates and mature at such time or times not exceeding thirty years from their respective
dates and be subject to such redemption privileges, with or without premium, as may
be fixed by the State Bond Commission. They shall be sold at not less than par and
accrued interest and the full faith and credit of the state is pledged for the payment of
the interest thereon and the principal thereof as the same shall become due, and accordingly and as part of the contract of the state with the holders of said bonds, appropriation
of all amounts necessary for punctual payment of such principal and interest is hereby
made, and the State Treasurer shall pay such principal and interest as the same become
due. The State Treasurer is authorized to invest temporarily in direct obligations of the
United States, United States agency obligations, certificates of deposit, commercial
paper or bank acceptances, such portion of the proceeds of such bonds or of any notes
issued in anticipation thereof as may be deemed available for such purpose.
(P.A. 97-265, S. 93, 98; P.A. 99-4, S. 2, 3; 99-241, S. 8, 66; P.A. 00-167, S. 61, 69; June Sp. Sess. P.A. 01-7, S. 17, 28;
May 9 Sp. Sess. P.A. 02-5, S. 10; Sept. 8 Sp. Sess. P.A. 03-2, S. 21; May Sp. Sess. P.A. 04-1, S. 7; June Sp. Sess. P.A. 05-5, S. 6.)
History: P.A. 97-265 effective July 1, 1997; P.A. 99-4 increased authorization from $113,100,000 to $121,100,000,
effective April 9, 1999; P.A. 99-241 increased authorization from $121,100,000 to $188,100,000, effective July 1, 1999,
provided $61,000,000 is effective July 1, 2000; P.A. 00-167 decreased the aggregate bond authorization from $188,100,000
to $144,100,000, effective July 1, 2000, of which $17,000,000 is effective July 1, 2000; June Sp. Sess. P.A. 01-7 decreased
the authorization from $144,100,000 to $121,100,000, effective July 1, 2001; May 9 Sp. Sess. P.A. 02-5 increased the
aggregate bond authorization from $121,100,000 to $171,100,000, effective July 1, 2002, of which $50,000,000 is effective
July 1, 2002; Sept. 8 Sp. Sess. P.A. 03-2 increased the aggregate bond authorization from $171,100,000 to $198,100,000,
effective September 10, 2003, of which $27,000,000 is effective July 1, 2003; May Sp. Sess. P.A. 04-1 increased the
aggregate authorization to $231,100,000 and provided that $33,000,000 of said authorization is effective July 1, 2004,
effective July 1, 2004; June Sp. Sess. P.A. 05-5 increased the aggregate authorization from $231,100,000 to $281,100,000,
of which $25,000,000 is effective July 1, 2006, effective July 1, 2005.
Sec. 10-292o. Leasing of facilities by regional educational service centers;
grants. (a) For purposes of this section, "regional educational service center leases"
means the lease of a facility by a regional educational service center for use in furnishing
educational programs and services.
(b) Each regional educational service center may apply for and accept grants for
regional educational service center leases as provided in this section. Any regional educational service center desiring a grant for a regional educational service center lease may
vote to authorize the regional educational service center to apply to the Commissioner of
Education for and to accept or reject such grant. Applications for a regional educational
service center lease grant shall be made on the form provided and in the manner prescribed by the Commissioner of Education.
(c) The Commissioner of Education shall receive, review, approve and disapprove
applications for regional educational service center lease grants under this section.
(d) The amount of the regional educational service center lease grant approved by
the Commissioner of Education under the provisions of this section shall be the eligible
percentage, as determined in subsection (c) of section 10-285a, times the eligible lease
costs as determined by the Commissioner of Education. Grants pursuant to this section
shall be paid on a current year basis if the regional educational service center files an
application to lease a facility with the Department of Education on or before August
first of each year. No such facility or portion thereof shall be eligible for a grant under
this section unless the local fire marshal has declared the facility suitable for occupancy
as a facility for use in furnishing educational programs and services. Eligible costs
pursuant to this section shall be limited to the lease cost of the building, net of any other
costs. Grant payments shall be made as follows: Twenty-five per cent of the estimated
cost in October, twenty-five per cent of the estimated cost in January, and the balance
of the estimated cost in April. The actual cost will be reported on or before September
first following the year of application on the end of school year report filed by each
regional educational service center. If the Commissioner of Education determines that
there has been an underpayment or overpayment in a grant made pursuant to this section,
the commissioner shall calculate the amount of the underpayment or overpayment and
shall adjust the amount of the grant payment for the fiscal year next following the fiscal
year in which such underpayment or overpayment was made. The amount of the adjustment shall be equal to the amount of the underpayment or overpayment. If the amount
of the overpayment exceeds the grant payment for the fiscal year next following the
fiscal year in which such overpayment was made, the regional educational service center
shall, upon the request of the commissioner, pay the department the difference. Any
lease pursuant to this section shall be for a period not to exceed twenty years. In no
event shall the reimbursement pursuant to this section be based upon a cost per square
foot which exceeds the cost determined to be reasonable by the Commissioner of Education. In the case of any grants computed under this section, any federal funds or other
state funds received for such costs covered by the grant shall be deducted from cost
estimates prior to computation of the grant. Notwithstanding the provisions of this section, for the fiscal years ending June 30, 2004, to June 30, 2007, the amount of the grants
payable to regional educational service centers in accordance with this section shall be
reduced proportionately if the total of such grants in such year exceeds the amount
appropriated for the purposes of this section for such year.
(P.A. 97-265, S. 97, 98; June 30 Sp. Sess. P.A. 03-6, S. 11; P.A. 04-26, S. 9; P.A. 05-245, S. 43.)
History: P.A. 97-265 effective July 1, 1997; June 30 Sp. Sess. P.A. 03-6 amended Subsec. (d) by adding provision re
proportional reduction of grants for the fiscal years ending June 30, 2004, and June 30, 2005, effective August 20, 2003;
P.A. 04-26 made technical changes in Subsec. (d), effective April 28, 2004; P.A. 05-245 amended Subsec. (d) by extending
the proportional reduction of grants through the fiscal year ending June 30, 2007, effective July 1, 2005.