The proposed bill would update current statutes governing county water augmentation authorities by allowing these authorities to issue revenue bonds without needing to prove the impracticality of other financing methods. It would streamline public hearing processes related to bond issuance by removing specific timing requirements and allowing for notice to be provided instead of published in newspapers. Additionally, the bill would introduce new provisions for managing bond funds, including the authority to invest and pay principal from these funds, while clarifying board members' responsibilities regarding bond issuance and repayment agreements.

Moreover, the bill would repeal existing requirements, such as the Attorney General's certification of bond validity and the necessity for specific officials to sign bonds. It would also expand the definition of "project" to encompass various water conservation and storage facilities, and clarify obligations regarding loan repayment agreements with the Water Infrastructure Finance Authority (WIFA). The updates aim to enhance operational efficiency, provide exclusive authorization for loan agreements with WIFA, and ensure compliance with legal requirements related to water infrastructure projects.

Statutes affected:
Introduced Version: 45-1901, 45-1973, 45-1976, 45-1991, 45-1993, 45-1994, 45-1996, 45-1997, 45-2000, 45-402, 45-1992
House Engrossed Version: 45-1901, 45-1973, 45-1976, 45-1991, 45-1993, 45-1994, 45-1996, 45-1997, 45-2000, 45-402, 45-1992