Connecticut § 7-373 Banks to certify municipal bonds. Disbursing agent.

Connecticut Statutes

§ 7-373 — Banks to certify municipal bonds. Disbursing agent.

Connecticut·Title 7 Municipalities·Ch. 109 Municipal Bond Issues

Each town, city, borough, school district, fire district and sewer district and each other municipal corporation and association having a population of less than ninety thousand inhabitants as determined by the federal census last taken, which issues bonds pursuant to its general or special powers, shall, for each such issue, designate a bank or trust company incorporated under the laws of this or any other state, or of the United States, to certify such issue and shall also designate a bank or trust company incorporated under the laws of this or any other state, or of the United States, to act as disbursing agent in the payment of principal and interest on such bonds. Such certification shall be endorsed upon each bond and shall identify such bond as being one of the particular issue desc

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Each town, city, borough, school district, fire district and sewer district and each other municipal corporation and association having a population of less than ninety thousand inhabitants as determined by the federal census last taken, which issues bonds pursuant to its general or special powers, shall, for each such issue, designate a bank or trust company incorporated under the laws of this or any other state, or of the United States, to certify such issue and shall also designate a bank or trust company incorporated under the laws of this or any other state, or of the United States, to act as disbursing agent in the payment of principal and interest on such bonds. Such certification shall be endorsed upon each bond and shall identify such bond as being one of the particular issue described in such bond, shall certify the genuineness of the signatures and seal thereto affixed, shall state the name of the attorney at law who has rendered an opinion approving the legality of such particular issue and shall be signed by an authorized officer or official of such bank or trust company. See Sec. 42b-1 for definitions re registered public obligations. See Sec. 42b-11 re effect of chapter 748 with respect to registered public obligations issued on or after July 7, 1983. See Sec. 42b-12 for requirement that this section and chapter 748 be construed in conjunction with the Uniform Commercial Code. See Sec. 42b-14 re severability of provisions relating to registered public obligations.

Connecticut § 7-373 (Banks to certify municipal bonds. Disbursing agent.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(1949 Rev., S. 806; P.A. 83-519, S. 18, 23.) History: P.A. 83-519 added “authorized official” to “authorized officer” as person acting for the bank or trust company designated to certify such bond issue, thus authorizing such officer or official to so certify. Cited. 18 CA 291.