The proposed bill would significantly update the statutes governing county water augmentation authorities by repealing existing provisions that limit their bonding authority and introducing new language to enhance their financial capabilities. Specifically, it would repeal the existing statute giving authority for an Authority to issue bonds and allow the Authority to issue revenue bonds as determined necessary by its board of directors to fund projects. The bill would also specify the required actions of the secretary-treasurer regarding bond payments and investment of funds, remove certain content requirements for bond issue resolutions, and update public hearing notification requirements. Additionally, the bill would expand the definition of "project" to include wastewater treatment and drinking water facilities and allow the board to secure bonds with a first lien on relevant funds. It would also require the board to notify the Attorney General of its intention to issue bonds and clarify the handling of funds collected, specifying that they may be deposited into either the general fund or a bond fund. Overall, these changes aim to streamline operations, clarify definitions, and expand the financial mechanisms available to the authority for 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