HB2449 - Tennessee - Appropriations, Bond Issues, Budget Procedures

Companion Bill SB2626. Bond Issues - Authorizes issuance of bonds to fund state projects. - Fiscal Summary for *HB2449 / SB2626Increase State Expenditures - $11,110,000 - 1st Year Debt Service $164,630,000 Over life of the bonds $101,000,000 Principal $63,630,000 Interest Bill Summary for *HB2449 / SB2626 ON MAY 20, 2008, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2626, AS AMENDED. AMENDMENT #1 reduces the monetary amount of bonds that this bill would authorize the funding board to issue from $100 million to $5,720,000. Instead of directing the proceeds of the bonds to THEC for capital outlay projects, this amendment allocates the proceeds of the bonds as follows: (1) $2,720,000 to department of finance and administration for acquisition of equipment, and erection, construction [...]

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