HB 1107: Utility Cost Containment Bonds
GENERAL BILL by Wood
Utility Cost Containment Bonds; Designates act as "Utility Cost Containment Bond Act"; authorizes authority on behalf of local agencies to finance utility projects using cost containment bonds; provides criteria for use by local agencies in financing utility projects; specifies how utility project charges become effective & how they are to be paid; provides parameters in use of utility cost containment bonds; prohibits utility bond documents from obligating state or political subdivision thereof to enact tax or make appropriation to pay bonds; provides restrictions on type of legal obligations that financing costs constitute; clarifies issues related to utility project property; identifies lien priority of utility project property in securing payment of utility cost containment bonds; prohibits authority, or governmental officer or organization on its behalf, from filing bankruptcy; provides for liberal construction.
Last Action: 5/2/2014 House - Died in Finance and Tax Subcommittee
Bill Text: PDF
• Introduced -HJ 92
• Referred to Energy and Utilities Subcommittee; Finance and Tax Subcommittee; Regulatory Affairs Committee -HJ 204
• On Committee agenda-- Energy and Utilities Subcommittee, 03/24/14, 12:30 pm, Webster Hall
• Favorable by Energy and Utilities Subcommittee; YEAS 13 NAYS 0 -HJ 427
• Now in Finance and Tax Subcommittee -HJ 427
• Died in Finance and Tax Subcommittee
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