Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB2395 by Creighton (Relating to general obligation bonds issued by school districts.), As Engrossed
No fiscal implication to the State is anticipated.
It is assumed that any costs associated with the bill could be absorbed using existing resources.
Local Government Impact
The bill would prevent school districts from using unspent general obligation bond proceeds for any other purpose than for the specific purposes for which the bonds were authorized or for retiring the bonds.