| TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | SJR57 by Williams (Proposing a constitutional amendment providing for the issuance of general obligation bonds to finance educational loans to students and for authority to enter into bond enhancement agreements with respect to such bonds.), As Introduced |
The cost to the state for publication of the resolution is $77,468.
The proposed amendment would authorize the Legislature by general law to authorize the Higher Education Coordinating Board to issue general obligation bonds of the state in an aggregate amount not to exceed $500 million to finance educational loans to students and authorize bond enhancement agreements with respect to the bonds.
The proposed amendment would not result in a fiscal impact to the state other than the cost of publication, and any fiscal implications would depend on the language of the corresponding enabling legislation.
The proposed amendment would be submitted to the voters at an election to be held November 6, 2007.
| Source Agencies: | 347 Public Finance Authority, 352 Bond Review Board, 781 Higher Education Coordinating Board
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| LBB Staff: | JOB, CT, RT, GO
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