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 sections and introduce new ones to provide clearer operational guidelines, expand the definition of "project" to encompass various water management facilities, and clarify the authority's financial responsibilities. It would establish obligations for authorities regarding loan repayment agreements with the Water Infrastructure Finance Authority (WIFA), ensuring that these agreements are binding once funded and that repayments do not constitute a debt of the authority. Overall, these updates aim to enhance the operational efficiency of county water augmentation authorities and facilitate financing 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
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
Chaptered Version: 45-1901, 45-1973, 45-1976, 45-1991, 45-1993, 45-1994, 45-1996, 45-1997, 45-2000, 45-402, 45-1992