Sec. 3-21d. Report required for unexpended bond proceeds. Disposition.
Sec. 3-21d. Report required for unexpended bond proceeds. Disposition. The
chief administrative officer of the department, institution or agency of the state responsible for any public works construction project administered by the Department of Public
Works under section 4b-1 with an estimated cost of more than ten thousand dollars and
receiving any portion of its funding from the proceeds of bonds issued under the State
General Obligation Bond Procedure Act shall file a report with the secretary of the State
Bond Commission forthwith upon completion or acceptance of any such construction
project, and in no event later than ninety days thereafter, which report shall provide the
following information: (1) The estimated total cost of the construction project, or the
actual amount of the project, if ascertainable; (2) the amount, if any, required to be held
in retainage and the reason for such retainage; and (3) the amount of any bonds authorized
by the State Bond Commission and allotted by the Governor to such project which
remains unexpended. Such report may contain a recommendation to the secretary as to
the further use of any portion of such unexpended bond proceeds, which recommendation may, in the discretion of the secretary and the Governor, be referred to the next
regular session of the General Assembly. Absent such recommendation and referral to
the General Assembly, the State Bond Commission may authorize an unexpended
amount to be transferred in accordance with the provisions of subsection (q) of section
3-20 or section 3-21b or the secretary may, prior to any such transfer, authorize the
expenditure of such amount for any emergency purpose approved in accordance with
the provisions of subsection (c) of section 4b-52. The chief administrative officer of the
department, institution or agency of the state shall also file a report with the cochairpersons of the joint standing committee of the General Assembly having cognizance of
matters relating to finance, revenue and bonding on or before January 1, 2002, and each
year thereafter, on any such projects which have been reported to the secretary of the
State Bond Commission.
(June Sp. Sess. P.A. 01-7, S. 18, 28.)
History: June Sp. Sess. P.A. 01-7 effective July 1, 2001.