SB 1058 Modifies provisions of law regarding the retirement of neighborhood improvement district bonds
Sponsor: Shields
LR Number: 5233S.02P Fiscal Note: 5233-02P.ORG
Committee: Jobs, Economic Development and Local Government
Last Action: 5/14/2010 - Referred H Job Creation and Economic Development Committee Journal Page: H1972
Title: Calendar Position:
Effective Date: August 28, 2010

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Current Bill Summary

SB 1058 - This act requires tax supported neighborhood improvement district bonds to be retired within twenty years from the date such bonds are contracted, and neighborhood improvement district bonds which are not supported by a tax must be retired within the greater of one hundred twenty percent of the economic life of the improvement, as certified by a professional engineer, or thirty years from the date such bonds are contracted.