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Interlocal GO-bond authority fails after debate over taxpayer safeguards
Summary
House debate on HB 330 focused on whether interlocal entities should be allowed to issue general obligation bonds for water, sewer and public safety; sponsors said unanimous member and voter approval plus elected-only interlocal boards would protect taxpayers, but the first substitute failed 30-42 on the floor.
The House considered House Bill 330, which would have allowed interlocal entities to issue general obligation bonds for three narrow purposes (water, sewer and public safety). Representative Anderson, the sponsor, said the first substitute tightened bonding authority by requiring interlocal governing boards be composed exclusively of elected officials, forbidding defaults by member entities, tying bonding…
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