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House rejects measure to move state lease-revenue bond authority to State Bonding Commission
Summary
First substitute Senate Bill 101 would have given the State Bonding Commission authority to issue lease-revenue bonds now issued by the State Building Board. Representative Snow argued centralization protects bond ratings; opponents warned of concentrating power. The House defeated the measure and returned it to the Senate (19 yes, 53 no).
On Feb. 10, 2000, the Utah House debated first substitute Senate Bill 101, a measure to transfer authority to issue certain lease-revenue bonds from the State Building Board to the State Bonding Commission. Representative Snow, sponsor of the House consideration, told members centralizing bond sales with the State Bonding Commission would protect the state's bond ratings and consolidate expertise.
"All of the other bonds . . . are all centralized with what's known as the State Bonding Commission," Representative Snow said…
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