§39-111 Legislative determination. The provisions of this section shall be applicable to all computations and determinations required in the declaration of findings required of the legislature for the purposes of section 13 of Article VII of the Constitution.
In determining whether an authorization of bonds when issued would cause to be exceeded the limitations on the total outstanding indebtedness of the State set forth in section 13 of Article VII of the Constitution, or whether such bonds may be excluded from such total outstanding indebtedness under clause 3, 4, 5, 8, or 9 of that section, the "time of issuance" thereof shall be deemed to be the same fiscal year in which the bonds are dated even though the date of delivery of the bonds may occur or be in the next succeeding fiscal year by reason of the definition of "fiscal year" set forth in section 39-91. [L 1979, c 57, pt of §12]Section: Previous 39-75 39-76 39-91-to-99 39-92 39-93 39-94 39-125-to-131 39-111 39-112 39-151 39-161 39-162 39-163 39-164 Next
Last modified: October 27, 2016