Sec. 10-287f. Renewal of temporary notes outstanding. - Connecticut Statutes

      Sec. 10-287f. Renewal of temporary notes outstanding. Any town or regional school district which has temporary notes outstanding in anticipation of the receipt of the proceeds from the sale of bonds authorized for construction of school building projects eligible for a grant under section 10-287a may renew such notes from time to time without regard to the provisions of sections 7-378 and 10-56 and any other sections of the general statutes, public act or special act or charter which limit the time for renewing temporary notes issued in anticipation of the receipt of the proceeds of bond issues, provided that (i) no such notes may be renewed to mature more than six months after the final grant payment under section 10-287a or July 1, 1971, whichever is later and (ii) all grant payments received by the town or district shall be applied promptly toward project costs or toward repayment of such temporary notes as the same shall become due and payable.

      (June, 1969, P.A. 1, S. 65; 1971, P.A. 695, S. 6.)

      History: 1971 act substituted "a grant under section 10-287a" for "state financial assistance under sections 10-287a and 10-287b", deleted reference to provisions of Sec. 7-264 but included reference to Sec. 10-56 as not limiting note renewal and added proviso in Subdivs. (i) and (ii).