63C-25-203. Debt affordability report.
(1) No later than November 1 each year, the state treasurer, with assistance from the Governor's Office of Planning and Budget and the Office of the Legislative Fiscal Analyst, shall prepare and submit a debt affordability report to the commission and the Revenue and Taxation Interim Committee.
(2) The debt affordability report shall include: as determined by the state treasurer, the amount of tax-supported debt that, during the next fiscal year and annually for the following nine fiscal years: will be outstanding; and has been authorized but is not yet issued; a projected schedule of affordable, state tax-supported debt authorizations for the next fiscal year; projected debt-service requirements during the next fiscal year and annually for the following nine fiscal years based upon: existing outstanding debt; previously authorized but unissued debt; and projected bond authorizations; the criteria that recognized bond rating agencies use to judge the quality of issues of bonds issued by the state; and any other information that is relevant to: the state's ability to meet its projected debt service requirements; the ability of the state to support additional debt service; the interest rate to be borne by, the credit rating on, or any other factor affecting the marketability of state bonds; and the effect of authorizing new tax-supported debt on each of the considerations described in this Subsection. (2)