reglab/housing_qa huggingface dataset:
CT Gen Stat § 7-528 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 116a - Local Property Tax Relief Trust Fund|Section 7-528 - Grants. Allocation of funds. Formulas.

 (a) As used in this section:(1) “Adjusted equalized net grand list per capita” means the adjusted equalized net grand list per capita determined for each town pursuant to section 10-261;(2) “Municipality” means any town, city, borough, consolidated town and city or consolidated town and borough;(3) “Per capita income” and “population” for each town means that enumerated in the most recent federal decennial census of population or that enumerated in the most recent current population report series issued by the United States Department of Commerce, Bureau of the Census available on January first of the fiscal year prior to the fiscal year in which payment is to be made pursuant to this section, whichever is most recent; and(4) “Secretary” means the Secretary of the Office of Policy and Management.(b) The funds allocated in accordance with this section shall be distributed to each municipality pro rata on the basis of the following formula: The population of each town multiplied by the inverse of the adjusted equalized net grand list per capita of such town multiplied by the inverse of the per capita income of such town shall be the numerator of the fraction, and the resulting products shall be added together and the sum shall be the denominator of the fraction. Any city or borough not consolidated with the town in which it is located and any town containing such a city or borough shall share the allocation to such town on the basis of the following ratio: The total taxes levied in the previous fiscal year by such town, city or borough shall be the numerator of the fraction. The total taxes levied by the town and all cities or boroughs located within such town shall be added together, and the sum shall be the denominator of the fraction. Any such city or borough may, by vote of its legislative body, direct the Secretary of the Office of Policy and Management to reallocate all or a portion of the share of such city or borough to the town in which it is located.(P.A. 87-584, S. 3, 18; P.A. 96-237, S. 1, 3; P.A. 97-274, S. 3, 7.)History: (Revisor's note: In 1997 the Revisors editorially inserted the word “Trust” in the phrase “Local Property Tax Relief Trust Fund” in Subsec. (b)(2) in conformance with Sec. 7-526); P.A. 96-237 amended Subsec. (b) to change date of last payment from trust fund from March 31, 1997, to March 31, 1991, made technical change and added provision re transfer of up to $100,000 from trust fund to General Fund for the Office of Policy and Management for use in funding various studies required of said office pursuant to legislative enactments of February, 1996, regular session of General Assembly, effective July 1, 1996; P.A. 97-274 deleted former Subsec. (b) re Local Property Tax Relief Trust Fund and redesignated former Subsec. (c) as Subsec. (b), effective June 26, 1997.
CT Gen Stat § 7-535 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 116b - Local Capital Improvement Fund|Section 7-535 - Local Capital Improvement Fund established.

 There is established and created a fund to be known as the “Local Capital Improvement Fund”. Said fund shall contain any moneys required by law to be deposited in the fund and shall be held separate and apart from all other moneys, funds and accounts. Any balance remaining in said fund at the end of any fiscal year shall be carried forward in said fund for the fiscal year next succeeding. The resources of such fund shall be expended for the purpose of reimbursing municipalities for the cost of eligible local capital improvement projects pursuant to section 7-536.(P.A. 87-584, S. 11, 18; June Sp. Sess. P.A. 91-3, S. 158, 168; June Sp. Sess. P.A. 91-13, S. 17, 21; May Sp. Sess. P.A. 92-7, S. 5, 36.)History: June Sp. Sess. P.A. 91-3 eliminated the provision that investment earnings credited to the assets of the fund become part of the assets of the fund; June Sp. Sess. P.A. 91-13 deleted all changes made by June Sp. Sess. P.A. 91-3 and restored language existing as of January 1, 1991; May Sp. Sess. P.A. 92-7 removed the provision that investment earnings credited to the assets of the fund became part of the fund.
CT Gen Stat § 7-537 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 116b - Local Capital Improvement Fund|Section 7-537 - Local capital improvement grant anticipation notes.

 (a) A municipality may authorize and approve the issuance of local capital improvement grant anticipation notes. Proceeds from the issuance and sale of such grant anticipation notes shall be used to temporarily finance an eligible local capital improvement project approved by the Secretary of the Office of Policy and Management pursuant to subsection (f) of section 7-536. Such grant anticipation notes may be issued and sold to any lender on such terms and in such manner as shall be determined by a municipality. Such grant anticipation notes may be renewed from time to time by the issuance of other notes, provided the final maturity of such notes shall not exceed six months from the date of completion of an eligible local capital improvement project. Such notes and renewals shall not be subject to the requirements and limitations set forth in sections 7-378 and 7-378a. The provisions of section 7-374 shall apply to such notes and any renewals thereof. The officer or agency authorized by law or by vote of the municipality to issue such grant anticipation notes shall, within any limitation imposed by such law or vote, determine the date, maturity, interest rate, form, manner of sale and other details of such notes. Such notes may bear interest or be sold at a discount and the interest or discount on such notes, including renewals thereof. The expense of preparing, issuing and marketing such notes may not be included as a part of the cost of an eligible local capital improvement project.(b) Local capital improvement grant anticipation notes shall be general obligations of the issuing municipality and each such obligation shall recite that the full faith and credit of the issuing municipality are pledged for the payment of the principal thereof and interest thereon.(P.A. 87-584, S. 13, 18; June Sp. Sess. P.A. 91-3, S. 160, 168; June Sp. Sess. P.A. 91-13, S. 19, 21; May Sp. Sess. P.A. 92-7, S. 7, 36.)History: June Sp. Sess. P.A. 91-3 included references to the new local transportation infrastructure program; June Sp. Sess. P.A. 91-13 deleted all changes made by June Sp. Sess. P.A. 91-3 and restored language existing as of January 1, 1991; May Sp. Sess. P.A. 92-7 amended Subsec. (a) to exclude the expense of preparing, issuing and marketing the notes from eligible project costs and to remove the provision requiring the immediate payment of such notes upon the issuance of a grant.
CT Gen Stat § 7-546 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 116c - Public Investment Communities|Section 7-546 - Grants-in-aid. Plan for activities.

 Section 7-546 is repealed, effective April 26, 2007.(P.A. 92-213, S. 2, 5; P.A. 93-99, S. 2, 3; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6; P.A. 97-274, S. 5, 7; P.A. 07-10, S. 2.)
CT Gen Stat § 7-547 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 116c - Public Investment Communities|Section 7-547 - Report evaluating program.

 Section 7-547 is repealed, effective June 26, 1997.(P.A. 92-213, S. 3, 5; P.A. 97-274, S. 6, 7.)
CT Gen Stat § 7-561 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-561 - Establishment of property tax intercept procedure and debt service payment fund.

 Any municipality may establish a property tax intercept procedure and a debt service payment fund, as provided in sections 7-562 to 7-564, inclusive. The municipal officer or body empowered to issue general obligations or to determine the details of general obligations authorized by the municipality may establish such tax intercept procedure and such debt service payment fund, may determine the details and approve the terms of all indentures and agreements and other instruments necessary or appropriate to establish and implement a tax intercept procedure and a debt service payment fund as provided in sections 7-560 to 7-579, inclusive, and may bind the municipality, pursuant to any such indenture or agreement, with the requirements of sections 7-560 to 7-579, inclusive, and of any ordinance or resolution authorizing the issuance of such general obligations of the municipality.(P.A. 93-421, S. 2, 22; June Sp. Sess. P.A. 17-2, S. 350.)History: P.A. 93-421 effective July 1, 1993; June Sp. Sess. P.A. 17-2 deleted references to Sec. 7-394b(a), effective October 31, 2017.
CT Gen Stat § 7-563 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-563 - Indenture or other agreements.

 The tax intercept procedure and the debt service payment fund shall be established pursuant to an indenture or other agreement between the municipality and the trustee. Such indenture or agreement shall include all the terms, conditions and requirements pertaining to the tax intercept procedure and the debt service payment fund in accordance with the requirements of sections 7-560 to 7-579, inclusive, and the municipality shall agree to comply with all such terms, conditions and requirements for the benefit of the holders of any general obligations supported by such tax intercept procedure. Such indenture or agreement may also include covenants to pay the fees and expenses of the trustee and to indemnify the trustee from claims against the trustee, covenants of the municipality to protect and safeguard the security and rights of the holders of the obligations issued and sold subject thereto and inclusion of such covenants in the contract of the municipality with such holders and for the benefit of any holders of outstanding general obligations, provided such benefit conferred thereon shall not be deemed to restrict, preclude or otherwise impair any rights that such holders currently may assert and, without limiting said rights, such indenture or agreement shall contain covenants as to: (1) Establishment, maintenance and implementation of both the property tax intercept procedure and the debt service payment fund in a manner such that the municipality can transfer to the trustee for deposit in the debt service payment fund amounts at least equal to the debt service payment fund requirement, and the temporary investment of proceeds of such funds pending their use in accordance with sections 7-560 to 7-579, inclusive, and subject to such limitations on investment of public funds otherwise provided for by the general statutes; (2) the appointment, rights, powers and duties of the trustee including limiting or abrogating the rights of the holders of such general obligations to appoint any other trustee and vesting in the trustee all or any such rights, duties and powers; and (3) conditions which would give rise to an event of default under the terms and conditions of such general obligations and actions and remedies which the trustee may take and assert on behalf of such holders. Any requirement set forth in sections 7-560 to 7-579, inclusive, pertaining to the tax intercept procedure and debt service payment fund may be modified to the extent necessary to comply with any covenant of the municipality necessary to ensure the exclusion of interest on such obligations from gross income for federal income tax purposes.(P.A. 93-421, S. 4, 22; June Sp. Sess. P.A. 17-2, S. 352.)History: P.A. 93-421 effective July 1, 1993; June Sp. Sess. P.A. 17-2 deleted references to Sec. 7-394b(a), effective October 31, 2017.
CT Gen Stat § 7-564 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-564 - Rights and remedies of holders of general obligations.

 The holders of general obligations for the benefit of whom the property tax intercept procedure and debt service payment fund is established shall have, in addition to all other rights and remedies under law, the following rights and remedies subject to the terms and conditions of the applicable indenture or agreement with the trustee:(1) In the event the municipality shall fail or refuse to comply with the indenture or agreement with the trustee or shall default in any contract made with the holders of such general obligations, the holders of twenty-five per cent in aggregate principal amounts of such then outstanding obligations, by instrument or instruments filed with the trustee and proved or acknowledged to the satisfaction of the trustee may cause the trustee to take action for the purposes provided for in sections 7-560 to 7-579, inclusive.(2) Such trustee may, upon written request of the holders of twenty-five per cent in principal amount of such general obligations then outstanding, in its own name, exercise all or any of the powers of any such holders including: (A) By mandamus or other suit, action or proceeding at law or in equity, enforce all rights of the holders of such general obligations, including requiring the municipality to carry out the provisions of any contract with the holders or any indenture or agreement with the trustee and to perform its duty thereunder; (B) bring suit upon such general obligations; and (C) by action or suit in equity, enjoin any acts or things which may be unlawful or in violation of the rights of the holders of such obligations.(3) Such trustee shall have and possess all of the powers necessary or appropriate for the exercise of any functions specifically set forth in sections 7-560 to 7-579, inclusive, or incident to the general representation of the holders of such general obligations of such issue in the enforcement and protection of their rights.(4) The Superior Court shall have jurisdiction of any suit, action or proceeding by or on behalf of the holders of obligations. The venue of such suit, action or proceeding shall be the judicial district in which such municipality is located.(P.A. 93-421, S. 5, 22; May 25 Sp. Sess. P.A. 94-1, S. 8, 130; June Sp. Sess. P.A. 17-2, S. 353.)History: P.A. 93-421 effective July 1, 1993; May 25 Sp. Sess. P.A. 94-1 made technical change, effective July 1, 1994; June Sp. Sess. P.A. 17-2 deleted references to Sec. 7-394b(a), effective October 31, 2017.
CT Gen Stat § 7-565 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-565 - State pledge to holders of general obligations.

 The state does hereby pledge to and agree with the holders of any general obligations issued under sections 7-560 to 7-579, inclusive, and with those parties who may enter into contracts with a municipality pursuant to the provisions of sections 7-560 to 7-579, inclusive, that the state will not limit or alter the rights hereby vested in a municipality until such obligations, together with the interest thereon, are fully met and discharged and such contracts are fully performed on the part of the municipality, provided nothing in sections 7-560 to 7-579, inclusive, shall preclude limitation or alteration if and when adequate provision shall be made by law for the protection of the holders of such general obligations of a municipality or those entering into such contracts with a municipality. A municipality as agent for the state is authorized to include this pledge and undertaking by the state in such general obligations.(P.A. 93-421, S. 6, 22; June Sp. Sess. P.A. 17-2, S. 354.)History: P.A. 93-421 effective July 1, 1993; June Sp. Sess. P.A. 17-2 deleted references to Sec. 7-394b(a), effective October 31, 2017.
CT Gen Stat § 7-566 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-566 - Municipal petition to become a debtor.

 No municipality shall file a petition to become a debtor under Chapter 9 of Title 11 of the United States Code without the express prior written consent of the Governor. If the Governor consents to a petition, he shall submit a report to the Treasurer and the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding which sets forth the reasons for consent.(P.A. 93-421, S. 7, 22.)History: P.A. 93-421 effective July 1, 1993.
CT Gen Stat § 7-567 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-567 - Additional property tax to pay current year's expenses.

 If during any fiscal year any municipality determines that it has failed to levy necessary taxes or to levy a tax which, in addition to all other estimated yearly income of such municipality is sufficient to pay the current expenses of such municipality for such fiscal year, the board with the powers to levy taxes for such municipality may levy a tax or additional tax upon its grand list applicable for such fiscal year for the amount sufficient to pay its current year's expenses and determine the due date of such tax levy.(P. A. 93-421, S. 8, 22.)History: P.A. 93-421 effective July 1, 1993.
CT Gen Stat § 7-568 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-568 - Issuance of deficit obligations to fund general fund deficiency. Required designation of designated tier III municipalities.

 (a) Except as expressly provided in sections 7-560 to 7-579, inclusive, no municipality shall issue any deficit obligation to fund a general fund deficiency.(b) Notwithstanding any charter, special act or home-rule ordinance to the contrary, any municipality which has no outstanding deficit obligation and which has not issued a deficit obligation in the past five years, is authorized and empowered to issue deficit obligations to fund a deficit, provided such municipality shall, within the time and in the manner prescribed by regulations adopted by the secretary, in consultation with the Treasurer: (1) Notify the secretary of its intent to issue such deficit obligations, (2) provide the secretary with the documentation required under sections 7-560 to 7-579, inclusive, (3) establish a property tax intercept procedure, and (4) establish and covenant to maintain with a trustee a debt service payment fund into which the property tax receipts shall be deposited pursuant to the property tax intercept procedure in an amount at least equal to the debt service payment requirement and from which the trustee shall disburse funds to pay debt service on all general obligations of such municipality which have a term of over one year as and when the same shall become due. Notwithstanding any other provisions of sections 7-560 to 7-565, inclusive, sections 7-568 to 7-579, inclusive, any municipality that issues a deficit obligation pursuant to this section or in the five years preceding July 1, 2017, shall be designated a tier III municipality by the secretary.(P.A. 93-421, S. 9, 22; June Sp. Sess. P.A. 17-2, S. 355.)History: P.A. 93-421 effective July 1, 1993; June Sp. Sess. P.A. 17-2 amended Subsec. (a) by deleting reference to Sec. 7-394b(a) and amended Subsec. (b) by deleting reference to Sec. 7-394b(a) and deleting provision re secretary to refer to Municipal Finance Advisory Commission municipality which notifies secretary of its intent to issue deficit obligations, and adding provisions re tier III municipality, effective October 31, 2017.
CT Gen Stat § 7-569 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-569 - Obligation for which there is a special capital reserve fund. State Treasurer's approval.

 No municipality, including any certified or designated municipality, shall issue any obligation for which there is a special capital reserve fund of any kind which is in any way contributed to or guaranteed by the state unless and until such obligation, and the indenture or agreement establishing such special capital reserve fund, is approved by the Treasurer. The approval of the Treasurer shall be based on documentation provided and certified by such municipality demonstrating to the Treasurer's satisfaction that (1) (A) the secretary has certified the municipality, (B) the municipality has requested designation as a tier I, II or III municipality, or (C) the secretary has designated the municipality as a tier III or IV municipality, (2) the Municipal Finance Advisory Commission, in the case of a certified municipality or designated tier I municipality, or the Municipal Accountability Review Board, in the case of a designated tier II, III or IV municipality, has approved the obligation to be issued under sections 7-560 to 7-579, inclusive, (3) the municipality is not in default on any general obligation after giving effect to an obligation approved under this section, (4) the municipality has funded or made due provision to fund the special capital reserve fund, (5) the financing is in the public interest, and (6) the secretary and the Treasurer have approved the property tax intercept procedure authorized by sections 7-560 to 7-579, inclusive.(P.A. 93-421, S. 10, 22; June Sp. Sess. P.A. 17-2, S. 356.)History: P.A. 93-421 effective July 1, 1993; June Sp. Sess. P.A. 17-2 added reference to designated municipalities, amended Subdiv. (1) by designating provision re secretary certified municipality as Subpara. (A), adding Subpara. (B) re municipality requesting designation as tier I, II or III municipality, adding Subpara. (C) re municipality that secretary designated as tier III or IV and amended Subdiv. (2) by adding provision re certified municipalities or designated tier I municipality and the Municipal Accountability Review Board and adding reference to tier III or IV municipality and deleting references to Sec. 7-394b(a), effective October 31, 2017.
CT Gen Stat § 7-572 (2020)
2020 Connecticut General Statutes|Title 7 - Municipalities|Chapter 117 - Municipal Deficit Financing|Section 7-572 - Application by tier I municipality to Secretary of Office of Policy and Management for certification or designation to issue general obligations.

 Any municipality that desires to issue general obligations under section 7-573 shall apply to the secretary for certification or designation. The secretary may certify as a tier I municipality any municipality which applies to be certified, provided such municipality (1) has a long-term bond rating from at least one bond rating agency which is investment grade or higher, (2) is unable to secure municipal bond insurance from any bond insurance company on reasonable terms and conditions on the date the secretary certifies such municipality, and (3) otherwise meets the standards established by the secretary. Such standards shall be established in writing by the secretary, after consulting with the Treasurer, shall provide for a level of supervision over such municipality which the secretary deems to be sufficient to minimize the risk of a draw upon the special capital reserve fund and a transfer from the state General Fund and shall be posted on the Internet web site of the Office of Policy and Management. The secretary may recertify and decertify any municipality then certified, provided the secretary shall not automatically decertify any municipality which is able to secure bond insurance after it has been certified by the secretary.(P.A. 93-421, S. 13, 22; June Sp. Sess. P.A. 17-2, S. 359.)History: P.A. 93-421 effective July 1, 1993; June Sp. Sess. P.A. 17-2 added reference to applying to the secretary for designation, deleted provision re standards to be adopted as regulation and added provision re standards to be established in writing and posted on the Internet web site of the Office of Policy and Management, and made technical changes, effective October 31, 2017.