Download this document in MS Word format


AutoFill Template

H.819

Introduced by Representatives Pillsbury of Brattleboro, Allard of St. Albans Town, Atkins of Winooski, Darrow of Dummerston, Deen of Westminster, Dowland of Holland, Edwards of Brattleboro, Flory of Pittsford, Kilmartin of Newport City, Larocque of Barnet, Marek of Newfane, Milkey of Brattleboro, Molloy of Arlington, O’Donnell of Vernon and Randall of Troy

Referred to Committee on

Date:

Subject:  Capital funding; technical centers; state funding of debt service; Windham Regional Career Center

Statement of purpose:  This bill proposes to require state funding for the costs incurred by the Brattleboro Union High School District #6 in fiscal year 2006 and after in connection with borrowing funds in anticipation of 100 percent state construction aid for the district’s technical center project.

AN ACT RELATING TO THE WINDHAM REGIONAL CAREER CENTER

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  WINDHAM REGIONAL CAREER CENTER; PAYMENT OF INTEREST

(a)  Notwithstanding any provision of law to the contrary, the sum of up to $189,643.00 is appropriated to the Brattleboro Union High School District #6 (“the district”) in payment of costs incurred by the district in fiscal year 2006 in connection with borrowing funds in anticipation of 100 percent state school construction aid for the Windham Regional Career Center project (“the project”); provided that the payment required by this subsection shall be made solely for the interest incurred on that portion of eligible costs of the technical center project for which state aid would be paid if state funds were available.

(b)  Notwithstanding any provision of law to the contrary, beginning in fiscal year 2008, the state shall annually pay to the district 100 percent of the costs incurred by the district during the prior fiscal year in connection with borrowing funds in anticipation of 100 percent state school construction aid for the project, less the amount of interest earned by the district from investment of those funds; provided that the payment required by this subsection shall be made solely for the interest incurred on that portion of eligible costs of the technical center project for which state aid would be paid if state funds were available.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us