Plain English Breakdown
The official text leaves a blank space for the total bond amount, so no specific dollar figure can be confirmed from this source alone.
State Bonds for Capital Improvements at Middlesex Community College
This bill allows the State Bond Commission to issue state bonds to fund capital improvements at Middlesex Community College in Middletown.
What This Bill Does
- Empowers the State Bond Commission to authorize the sale of state bonds under section 3-20 of the general statutes.
- Sets a limit on the total amount of money raised, though the specific dollar figure is left blank in this text.
- Requires that bond proceeds be used by the Board of Regents for Higher Education as a grant-in-aid to Middlesex Community College.
- Limits spending strictly to capital improvements at the college.
Who It Names or Affects
- Middlesex Community College in Middletown
- The State Bond Commission
- The Board of Regents for Higher Education
Terms To Know
- Bonds
- Money the state borrows to fund projects, which must be paid back later.
- Capital improvements
- Major repairs, renovations, or new construction for buildings and facilities.
- Grant-in-aid
- Money given by the state to an organization that does not need to be paid back.
Limits and Unknowns
- The exact dollar amount for the bonds is left blank in this version of the bill.
- The specific types of building projects are not listed, only that they must be capital improvements.
- An effective date has not been set yet.