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1999 SESSION

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HB 1981 Prepayment of bonded indebtedness.

Introduced by: John J. Davies III | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Prepayment of bonded indebtedness. Provides that 10 percent of the annual general fund revenue collections that are in excess of the official estimates in the general appropriation act and 10 percent of any unreserved general fund balance at the close of each fiscal year whose reappropriation is not required in the general appropriation act shall be placed into a nonreverting fund and used to prepay bonded indebtedness.


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