The General Assembly finds that a need exists for careful planning of permanent improvements and of the utilization of state general obligation and institutional bond authority in order to ensure the continued favorable bond credit rating our State has historically enjoyed. It further finds that the responsibility for management of these matters is properly placed upon the legislative and executive branches of government. It is the purpose of this chapter to further ensure the proper legislative and executive response in the fulfillment of this responsibility.
HISTORY: 1976 Act No. 761, Section 1; 1979 Act No. 194, Part I, Section 10; 2014 Act No. 121 (S.22), Pt VII, Section 18.B, eff July 1, 2015.
Effect of Amendment
2014 Act No. 121, Section 18.B, in the second sentence, substituted "legislative and executive branches of government" for "General Assembly by our State Constitution"; in the third sentence, substituted "chapter" for "resolution", and inserted "and executive" following "proper legislative"; and made other nonsubstantive changes.