Connecticut General Statutes
Chapter 109 - Municipal Bond Issues
Section 7-373. - Banks to certify municipal bonds. Disbursing agent.

Each town, city, borough, school district, fire district and sewer district and each other municipal corporation and association having a population of less than ninety thousand inhabitants as determined by the federal census last taken, which issues bonds pursuant to its general or special powers, shall, for each such issue, designate a bank or trust company incorporated under the laws of this or any other state, or of the United States, to certify such issue and shall also designate a bank or trust company incorporated under the laws of this or any other state, or of the United States, to act as disbursing agent in the payment of principal and interest on such bonds. Such certification shall be endorsed upon each bond and shall identify such bond as being one of the particular issue described in such bond, shall certify the genuineness of the signatures and seal thereto affixed, shall state the name of the attorney at law who has rendered an opinion approving the legality of such particular issue and shall be signed by an authorized officer or official of such bank or trust company.

(1949 Rev., S. 806; P.A. 83-519, S. 18, 23.)
History: P.A. 83-519 added “authorized official” to “authorized officer” as person acting for the bank or trust company designated to certify such bond issue, thus authorizing such officer or official to so certify.
See Sec. 42b-1 for definitions re registered public obligations.
See Sec. 42b-11 re effect of chapter 748 with respect to registered public obligations issued on or after July 7, 1983.
See Sec. 42b-12 for requirement that this section and chapter 748 be construed in conjunction with the Uniform Commercial Code.
See Sec. 42b-14 re severability of provisions relating to registered public obligations.
Cited. 18 CA 291.

Structure Connecticut General Statutes

Connecticut General Statutes

Title 7 - Municipalities

Chapter 109 - Municipal Bond Issues

Section 7-369. - Authority to issue bonds.

Section 7-369a. - Issuance of bonds subject to federal income taxes.

Section 7-369b. - Representations and agreements to ensure desired federal income tax treatment of municipal debt obligations.

Section 7-370. - Manner of issuance.

Section 7-370a. - Interest rate not limited.

Section 7-370b. - Authority to establish credit facilities.

Section 7-370c. - Authority to issue refunding bonds for payment, funding or refunding of bonds, notes or other obligations previously issued.

Section 7-371. - Form of bonds.

Section 7-371a. - Sale of municipal bonds by negotiation. Consolidated maturity schedule.

Section 7-372. - Issuing of bonds by beach associations and similar subdivisions.

Section 7-373. - Banks to certify municipal bonds. Disbursing agent.

Section 7-374. - Bonded indebtedness of municipalities.

Section 7-374a. - Prior debt limitation not reduced.

Section 7-374b. - Issuance of debt obligations for funding of judgments, property or casualty losses and costs of municipal projects to abate deleterious conditions re residential building concrete foundations.

Section 7-374c. - Municipal pension deficit funding bonds.

Section 7-374d. - Municipal issue of pension deficit funding bonds or temporary notes in anticipation of receipt of proceeds.

Section 7-375. - Inconsistent special act provisions.

Section 7-376. - Redemption of outstanding bonds.

Section 7-377. - Redemption of bonds before maturity.

Section 7-377a. - Destruction of bonds and notes after payment or transfer of ownership.

Section 7-378. - Anticipation notes.

Section 7-378a. - Renewal of temporary notes.

Section 7-378b. - Temporary notes re bonds for sewer project with commitment for state or federal grant.

Section 7-378c. - Effective date of Secs. 7-378a and 7-378b.

Section 7-378d. - Appropriations for retirement of notes on school projects. Net cost of project.

Section 7-378e. - Extended time for renewal of temporary notes.

Section 7-378f. - Renewal of temporary notes to finance sewers in town without an operating system connected to treatment plant.

Section 7-378g. - Renewal of temporary notes issued by town to finance water filtration, supply or distribution facilities, a resources recovery facility or an incinerator.

Section 7-379. - Issuance of bonds and notes for dire emergencies.

Section 7-380. - Facsimile signatures. Manual signature requirements.

Section 7-380a. - Assumption of liability by municipality for employees providing information pertaining to issuance of bonds or notes.

Section 7-380b. - Issuance of bonds, notes or other obligations authorized before June 23, 1993.

Section 7-380c. - Maturity date for bonds issued for water, waste or community facilities. Maturity date for bonds issued for school building projects.