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1998 SESSION

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SB 322 Constitutional amendment; debt of local governments.

Introduced by: Frederick M. Quayle | all patrons    ...    notes | add to my profiles

SUMMARY:

Constitutional amendment (voter referendum); debt of local governments. Provides for a referendum at the November 3, 1998, election on a constitutional amendment which provides that the General Assembly may authorize one or more cities, towns, or counties, or any combination thereof, to contract debt as the result of an agreement to share the revenue, tax base, or the benefits of economic growth. This class of debt is exempted from the ceiling on local debt for cities and towns and from the requirement for a local referendum for counties.


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