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1998 SESSION

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SJ 52 Constitutional amendment; debt of local governments.

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

SUMMARY:

Constitutional amendment (second resolution); debt of local governments. Provides that 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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