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BONDS

Bond Transparency Act of 2017 (SB 1949) 

An Act relating to public finance; imposing requirement for publication of certain information regarding use of bond proceeds by certain local government entities; requiring local government entities to make information accessible through Internet website; excluding obligations issued by certain public trusts; providing for codification; providing for noncodification; and providing an effective date.

 A. At least thirty (30) days after the approval for a vote on a bond or other evidence of indebtedness to be issued by the local government entities described in subsection C of this section, the governing board of such entity shall cause to be published on that local government website: ENR. H. B. NO. 1949 Page 2

1. A description of the projects or assets that will be acquired, improved or repaired with the proceeds from the issuance of the bonds;

2. A description of any unpaid or unfinished bond approved by the voters of that jurisdiction preceding the date of the vote on the bonds to be issued; and

3. A detailed description of the use of the previous bond proceeds. If the bond proceeds were used to acquire or improve real property, the description shall include a physical address using a street number or some other method by which the location of the property can be identified.

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