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2010 SESSION

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HB 33 Debt, state and local; estimates of debt service costs to be included in ballot question.

Introduced by: Robert G. Marshall | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

State and local debt; estimates of debt service costs required. Requires that bond authorizations by the Commonwealth or by local governments that require voter approval shall include in the published notice estimates of the number of years to amortize the debt and the estimated total debt service to be paid on the principal amount of the bonds. Local governments will be required to provide the same information in public hearing notices for bonds that require a public hearing but not voter approval. In addition, the ballot question is required to include an estimate of the anticipated number of years over which the debt will be amortized and the total estimated debt service payable on the principal amount of the bonds until their retirement.


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