Plain English Breakdown
The official source does not specify the exact percentage of the remaining thirty-three percent of funding or what happens if bonds are not issued as planned.
Act Allowing State Bonds for Police Station Construction
This act allows the state to issue bonds up to $33.5 million to fund sixty-seven percent of a new police station's construction costs in Norwich.
What This Bill Does
- Allows the state to issue up to $33.5 million in bonds.
- The money from these bonds will be used as a grant for building a police station in Norwich.
Who It Names or Affects
- The city of Norwich
- State Bond Commission
Terms To Know
- Bonds
- Money borrowed by a government that needs to be paid back with interest.
- Grant-in-aid
- Financial help given by the state to another organization or city for specific projects.
Limits and Unknowns
- The bill does not specify how the remaining thirty-three percent of funding will be covered.
- It is unclear what happens if the bonds are not issued as planned.