Sec. 3-20f. State Bond Commission vote to authorize issuance of agricultural land preservation program bonds. - Connecticut Statutes

      Sec. 3-20f. State Bond Commission vote to authorize issuance of agricultural land preservation program bonds. Notwithstanding section 3-20, to the extent there is a sufficient balance of bonds approved by the General Assembly pursuant to any bond act for the purposes of agricultural land preservation programs established pursuant to section 22-26cc or 22-26jj, but not allocated by the State Bond Commission, said commission shall vote on whether to authorize the issuance of at least five million dollars of such bonds for the purposes described in said sections at each of said commission's regularly scheduled meetings occurring in August and February of each year. If no meeting is held in said months, said commission shall vote on whether to authorize the issuance of such bonds at its next regularly scheduled meeting. To the extent there is a sufficient balance of bonds so approved by the General Assembly and there are pending agricultural land preservation transactions in excess of five million dollars, the Commissioner of Agriculture may request, and the State Bond Commission shall vote on whether to authorize the issuance of, bonds in excess of five million dollars. To the extent the balance of bonds so approved by the legislature is below five million dollars at the time of said commission's August or February meetings, said commission shall vote on whether to authorize the issuance of the remaining balance of such bonds.

      (P.A. 07-162, S. 2.)

      History: P.A. 07-162 effective July 1, 2007.