PROPOSED AMENDMENT
SENATE AMENDMENTS TO S.B. 1378
(Reference to printed bill)
Page 2, line 5, strike “FINANCE” insert “PROVIDE SHORT-TERM FINANCING FOR”
Line 8, strike “BONDS,”
Line 16, strike “FOR THE PAYMENT OF REVENUE BONDS”
Line 17, after “PLEDGED” strike remainder of line
Line 18, strike “ARTICLE IX, SECTION 5, CONSTITUTION OF ARIZONA”
Page 3, after line 25, insert:
“C. ANY COMMERCIAL PAPER ISSUED BY THE BOARD PURSUANT TO THIS SECTION SHALL BE REQUIRED TO BE REPAID WITHIN TWO HUNDRED SEVENTY DAYS.
D. ON OR BEFORE NOVEMBER 15 OF EACH YEAR THE BOARD SHALL PROVIDE A REPORT ON THE COMMERCIAL PAPER PROGRAM AUTHORIZED PURSUANT TO THIS SECTION FROM THE PREVIOUS FISCAL YEAR, INCLUDING THE AMOUNT OF COMMERCIAL PAPER ISSUED, THE PURPOSES FOR WHICH THE COMMERCIAL PAPER WAS USED, AND ANY COMMERCIAL PAPER THAT WAS REDEEMED, TO THE PRESIDENT OF THE SENATE, THE SPEAKER OF THE HOUSE OF REPRESENTATIVES AND THE GOVERNOR.”
Amend title to conform