Plain English Breakdown
The official bill title mentions 'Town of Montville' generally, while the specific text limits funding to 'Montville Manor'. The explanation correctly reflects this narrower scope found in the operative text.
State Bonds for Water Upgrades at Montville Manor
This bill allows the state to issue up to $14 million in bonds to fund a grant that upgrades waterlines and connections at Montville Manor.
What This Bill Does
- Empowers the State Bond Commission to authorize state bonds totaling no more than fourteen million dollars.
- Requires bond proceeds to be managed by the Department of Economic and Community Development.
- Provides a grant-in-aid from the department to the Southeastern Connecticut Water Authority.
- Directs funds specifically for upgrading all waterlines and connections in Montville Manor.
Who It Names or Affects
- The State Bond Commission
- The Department of Economic and Community Development
- The Southeastern Connecticut Water Authority
- Residents or users at Montville Manor in the town of Montville
Terms To Know
- Bonds
- Money that a government borrows by selling certificates to investors, which must be paid back with interest.
- Grant-in-aid
- Financial assistance given by the state to another organization for a specific project or purpose.
Limits and Unknowns
- The bill sets a maximum limit of fourteen million dollars but does not specify if less will be issued.
- The text states the effective date is blank, so it is unknown when this law takes effect.
- The source material lists committee referrals and passage status but does not include details on future executive actions.