Connecticut General Statutes
Chapter 109 - Municipal Bond Issues
Section 7-374d. - Municipal issue of pension deficit funding bonds or temporary notes in anticipation of receipt of proceeds.

Notwithstanding the provisions of subsection (e) of section 7-374c or of any special act, charter, special act charter, home-rule ordinance, local ordinance or local law, a municipality, as defined in section 7-369, may, by vote of its legislative body, issue pension deficit funding bonds or temporary notes in anticipation of the receipt of the proceeds from the sale of such bonds, provided: (1) The amount of such temporary notes does not exceed the amount of such bonds, and (2) the purpose for which the pension deficit funding bonds or temporary notes are issued is to fulfil obligations of the municipality regarding lump sum payments to beneficiaries of a closed pension fund.

(P.A. 16-180, S. 2.)
History: P.A. 16-180 effective June 7, 2016.

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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.