Title 7, Title 7: Municipalities

Sec. 7-370a. Interest rate not limited. Any municipality, as defined in section 7-369, authorized to issue bonds, notes or other obligations under any provision of the general statutes or any special act or its charter, may issue such bonds, notes or other obligations bearing int…

Sec. 7-370b. Authority to establish credit facilities. In connection with or incidental to the carrying or selling and issuance of bonds or notes, any municipality, as defined in section 7-369, may obtain from any commercial bank, insurance company, subsidiary of such bank or ins…

Sec. 7-370c. Authority to issue refunding bonds for payment, funding or refunding of bonds, notes or other obligations previously issued. (a) Any municipality, as defined in section 7-369, which has issued bonds, notes or other obligations pursuant to any public or special act ma…

Sec. 7-371. Form of bonds. Unless otherwise provided by the general statutes or any special act, bonds issued by any municipality, as defined in section 7-369, by authority of any provision of the general statutes or of any special act shall be serial bonds maturing in annual or …

Sec. 7-371a. Sale of municipal bonds by negotiation. Consolidated maturity schedule. (a) For purposes of this section: (1) “Bonds” means bonds, notes or other obligations of a municipality, including loans obtained from state or federal agencies; (2) “Municipality” means any town…

Sec. 7-372. Issuing of bonds by beach associations and similar subdivisions. No beach association, or any other subdivision of any town, city or borough of a similar nature, wherein more than fifty per cent of the property owners are nonresidents, shall issue bonds pledging the s…

Sec. 7-373. Banks to certify municipal bonds. Disbursing agent. Each town, city, borough, school district, fire district and sewer district and each other municipal corporation and association having a population of less than ninety thousand inhabitants as determined by the feder…

Sec. 7-374. Bonded indebtedness of municipalities. (a) Definitions. As used in this section, “town” includes each town, consolidated town and city and consolidated town and borough; “municipality” excludes each town and includes each other independent and dependent political and …

Sec. 7-374a. Prior debt limitation not reduced. Subsection (b) of section 7-374 and subsection (b) of section 10-56 shall not operate to reduce the debt limitation of any town or municipality below that in effect on June 27, 1963. (1963, P.A. 604, S. 3; P.A. 73-616, S. 5.) Histor…

Sec. 7-374b. Issuance of debt obligations for funding of judgments, property or casualty losses and costs of municipal projects to abate deleterious conditions re residential building concrete foundations. (a) A municipality, as defined in section 7-369, and any regional school d…

Sec. 7-374c. Municipal pension deficit funding bonds. (a) For purposes of this section: (1) “Actuarial valuation” means a determination certified by an enrolled actuary, in a method and using assumptions meeting the parameters established by generally accepted accounting principl…

Sec. 7-374d. Municipal issue of pension deficit funding bonds or temporary notes in anticipation of receipt of proceeds. Notwithstanding the provisions of subsection (e) of section 7-374c or of any special act, charter, special act charter, home-rule ordinance, local ordinance or…

Sec. 7-375. Inconsistent special act provisions. Any provision of any special act inconsistent with the provisions of subsection (b) of section 7-374 is repealed. (1953, S. 364d.)

Sec. 7-376. Redemption of outstanding bonds. Any town which has issued any bonds or other obligations under or by virtue of any statute, public or private, shall have the power to redeem them by issuing new bonds or other obligations. (1949 Rev., S. 808.)

Sec. 7-377. Redemption of bonds before maturity. Any city or borough, by vote of its legislative body, or any town or other municipality which is authorized to levy and collect taxes, by vote, at a meeting warned and held for that purpose, may authorize the treasurer or other cus…

Sec. 7-377a. Destruction of bonds and notes after payment or transfer of ownership. Any town or municipality, as defined in subsection (a) of section 7-374, or other body politic and corporate organized and existing under the laws of the state may destroy or provide for the destr…

Sec. 7-378. Anticipation notes. Whenever any municipality, as defined in section 7-369, has authorized the issuance of general obligation bonds under the provisions of any public or special act, it may authorize the issuance of temporary notes in anticipation of the receipt of th…

Sec. 7-378a. Renewal of temporary notes. Notwithstanding the provisions of sections 7-264 and 7-378, and any other public or special act or charter which limits the renewal of temporary notes issued in anticipation of the receipt of the proceeds of bond issues to two years or any…

Sec. 7-378b. Temporary notes re bonds for sewer project with commitment for state or federal grant. Any town, as defined in section 7-378, which has temporary notes outstanding in anticipation of the receipt of the proceeds from the sale of bonds authorized for a sewer project, a…

Sec. 7-378c. Effective date of Secs. 7-378a and 7-378b. Sections 7-378a to 7-378c, inclusive, shall take effect July 1, 1977, except that any town which has temporary notes outstanding on such date, which were renewed under the authority of section 7-378a, may renew such notes in…

Sec. 7-378d. Appropriations for retirement of notes on school projects. Net cost of project. The amount of the state grant commitment pursuant to section 10-287 for school building projects and section 10-286d for site acquisition may be used in computing the town's net cost of t…

Sec. 7-378e. Extended time for renewal of temporary notes. Notwithstanding the provisions of sections 7-378a and 10-56 and any other public or special act or charter or bond ordinance or bond resolution which limits the renewal of temporary notes issued in anticipation of the rec…

Sec. 7-378f. Renewal of temporary notes to finance sewers in town without an operating system connected to treatment plant. Notwithstanding the provisions of sections 7-264, 7-378 and 7-378a and any other public or special act or charter or ordinance or resolution which limits or…

Sec. 7-378g. Renewal of temporary notes issued by town to finance water filtration, supply or distribution facilities, a resources recovery facility or an incinerator. Notwithstanding the provisions of sections 7-264, 7-378, 7-378a, 7-378b and 7-378e and any other public or speci…

Sec. 7-379. Issuance of bonds and notes for dire emergencies. As used in this section, the word “town” has the meaning ascribed to it by section 7-378 and the words “dire emergency appropriation” mean an appropriation to relieve or assist in the relieving of a situation certified…

Sec. 7-380. Facsimile signatures. Manual signature requirements. Any bonds, notes or other obligations for the payment of money by any municipality or town may bear the facsimile of any signature, seal or other means of execution, authentication, certification or endorsement requ…

Sec. 7-380a. Assumption of liability by municipality for employees providing information pertaining to issuance of bonds or notes. For purposes of this section, “municipality” means any town, city, borough, consolidated town and city, consolidated town and borough, fire district,…

Sec. 7-380b. Issuance of bonds, notes or other obligations authorized before June 23, 1993. The provisions of sections 7-370c, 7-374, 8-187, 8-192, 10-51c, subsections (a) and (b) of section 10-56 and sections 10-60a, 32-222 and 32-227 shall not operate to prevent the issuance of…

Sec. 7-380c. Maturity date for bonds issued for water, waste or community facilities. Maturity date for bonds issued for school building projects. (a) Notwithstanding the provisions of sections 7-234, 7-236, 7-263 and 7-371 or any other public or special act or charter or ordinan…