Plain English Breakdown
Checked against official source text during the last sync.
Bond Authorization for Philippine-American War Veterans Memorial
This bill allows the state to issue up to $300,000 in bonds to fund a memorial honoring veterans of the Philippine-American War as part of the Connecticut State Veterans Memorial.
What This Bill Does
- Empowers the State Bond Commission to authorize new state bonds under section 3-20 of the general statutes.
- Limits the total amount of these bonds to no more than three hundred thousand dollars in aggregate principal amounts.
- Requires that bond money be used by the Department of Veterans Affairs for a specific memorial project.
- Designates the funds for commemorating Philippine-American War veterans as part of the Connecticut State Veterans Memorial located in Minuteman Park in Hartford.
Who It Names or Affects
- The State Bond Commission
- The Department of Veterans Affairs
Terms To Know
- State Bonds
- Money that the state borrows from investors and promises to pay back with interest.
- Principal Amounts
- The total amount of money borrowed before any extra costs or interest are added.
Limits and Unknowns
- The bill does not state when the memorial construction will begin.
- The text does not specify how long it will take to pay back the bonds.
- No effective date is listed in the provided source material.