Plain English Breakdown
The official source does not specify how the bonds will be repaid or what interest rates might apply.
Act to Fund Sewer Upgrades for Hanover Village
This act allows the state to issue bonds up to four million dollars to fund a new sewer system in Hanover village, replacing old and failing lines.
What This Bill Does
- Allows the State Bond Commission to issue bonds of up to $4 million for the project.
Who It Names or Affects
- Residents of Hanover village who will benefit from improved sewer services.
- The town of Sprague which will receive funding for the project.
Terms To Know
- State Bond Commission
- A group that decides whether to issue bonds on behalf of the state.
Limits and Unknowns
- The exact amount and timing of bond issuance are not specified.
- It is unclear how the bonds will be repaid or what interest rates might apply.