For purposes of this section, “municipality” means any town, city, borough, consolidated town and city, consolidated town and borough, fire district, school district, regional school district, sewer district or any other political subdivision of the state authorized to issue bonds or notes by general or special act; and “official” means any person elected or appointed to office or employed by a municipality. Each municipality shall protect and save harmless any official or former official of such municipality from financial loss and expense, including legal fees and costs, if any, arising out of any claim, demand, suit or judgment by reason of alleged negligence on the part of such official, while acting in the discharge of his official duties, in providing information to any potential investor or underwriter of the municipality's bonds or notes. Nothing in this section shall be construed to preclude the defense of governmental immunity to any such claim, demand or suit. Each such municipality may insure against the liability imposed by this section in any insurance company organized in this state or in any insurance company of another state authorized to write such insurance in this state or may elect to act as self-insurer of such liability. This section shall not apply to cases of wilful and wanton fraud.
(P.A. 76-318; P.A. 14-122, S. 71.)
History: P.A. 14-122 made technical changes.
Structure Connecticut General Statutes
Chapter 109 - Municipal Bond Issues
Section 7-369. - Authority to issue bonds.
Section 7-369a. - Issuance of bonds subject to federal income taxes.
Section 7-370. - Manner of issuance.
Section 7-370a. - Interest rate not limited.
Section 7-370b. - Authority to establish credit facilities.
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 7-374c. - Municipal pension deficit funding bonds.
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 7-378c. - 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 7-379. - Issuance of bonds and notes for dire emergencies.
Section 7-380. - Facsimile signatures. Manual signature requirements.
Section 7-380b. - Issuance of bonds, notes or other obligations authorized before June 23, 1993.