Sec. 10-66k. Revocation of participation; effect on pledge for security of bonds. Existence of center and repayment of obligations. - Connecticut Statutes

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Statutes > Connecticut > Title10 > Chap164 > Sec10-66k

      Sec. 10-66k. Revocation of participation; effect on pledge for security of bonds. Existence of center and repayment of obligations. (a) Any participating member of a board of a regional educational service center may revoke such participation by giving notice to such board of its intention to terminate its participation at least six months prior to the start of the fiscal year beginning July first.

      (b) Notwithstanding the provisions of subsection (a) of this section and section 10-66a, no withdrawal or termination of participation by any member board of education shall affect any pledge, agreement, assignment or mortgage of any income, revenue, proceeds or property of a regional educational service center made for the benefit or security of any bonds, notes or other obligations or any repayment obligations under any credit or liquidity facility provided pursuant to this chapter.

      (c) Notwithstanding any provision of the general statutes, no regional educational service center shall cease to exist until such time as payment or provision for payment of all such center's outstanding bonds, notes or other obligations, including any outstanding repayment obligations under any credit or liquidity facility, is made.

      (1972, P.A. 117, S. 11; P.A. 95-259, S. 30, 32.)

      History: P.A. 95-259 made the existing section Subsec. (a) and added Subsec. (b) re withdrawal or termination of participation and Subsec. (c) re limitation on when service center can cease to exist, effective July 6, 1995.

State Codes and Statutes

Statutes > Connecticut > Title10 > Chap164 > Sec10-66k

      Sec. 10-66k. Revocation of participation; effect on pledge for security of bonds. Existence of center and repayment of obligations. (a) Any participating member of a board of a regional educational service center may revoke such participation by giving notice to such board of its intention to terminate its participation at least six months prior to the start of the fiscal year beginning July first.

      (b) Notwithstanding the provisions of subsection (a) of this section and section 10-66a, no withdrawal or termination of participation by any member board of education shall affect any pledge, agreement, assignment or mortgage of any income, revenue, proceeds or property of a regional educational service center made for the benefit or security of any bonds, notes or other obligations or any repayment obligations under any credit or liquidity facility provided pursuant to this chapter.

      (c) Notwithstanding any provision of the general statutes, no regional educational service center shall cease to exist until such time as payment or provision for payment of all such center's outstanding bonds, notes or other obligations, including any outstanding repayment obligations under any credit or liquidity facility, is made.

      (1972, P.A. 117, S. 11; P.A. 95-259, S. 30, 32.)

      History: P.A. 95-259 made the existing section Subsec. (a) and added Subsec. (b) re withdrawal or termination of participation and Subsec. (c) re limitation on when service center can cease to exist, effective July 6, 1995.

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State Codes and Statutes

Statutes > Connecticut > Title10 > Chap164 > Sec10-66k

      Sec. 10-66k. Revocation of participation; effect on pledge for security of bonds. Existence of center and repayment of obligations. (a) Any participating member of a board of a regional educational service center may revoke such participation by giving notice to such board of its intention to terminate its participation at least six months prior to the start of the fiscal year beginning July first.

      (b) Notwithstanding the provisions of subsection (a) of this section and section 10-66a, no withdrawal or termination of participation by any member board of education shall affect any pledge, agreement, assignment or mortgage of any income, revenue, proceeds or property of a regional educational service center made for the benefit or security of any bonds, notes or other obligations or any repayment obligations under any credit or liquidity facility provided pursuant to this chapter.

      (c) Notwithstanding any provision of the general statutes, no regional educational service center shall cease to exist until such time as payment or provision for payment of all such center's outstanding bonds, notes or other obligations, including any outstanding repayment obligations under any credit or liquidity facility, is made.

      (1972, P.A. 117, S. 11; P.A. 95-259, S. 30, 32.)

      History: P.A. 95-259 made the existing section Subsec. (a) and added Subsec. (b) re withdrawal or termination of participation and Subsec. (c) re limitation on when service center can cease to exist, effective July 6, 1995.