92nd General Assembly
Summary of SB2047
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Senate Sponsors:

Short description: 
TOLL AUTH-INSPECTOR & BONDS                                                

Synopsis of Bill as introduced:
        Amends the Toll Highway Act.  Requires the Toll Highway Authority      
   to appoint an  Inspector  General  to  investigate  waste,  fraud,  or      
   financial  mismanagement  in  Authority operations involving Authority      
   employees or contractors.  Provides for the Inspector General's powers      
   and duties.  Makes failure to cooperate in  specified  ways  with  the      
   investigation  a Class A misdemeanor.  Requires competitive bidding of      
   Authority bond issuance service contracts over $25,000.  Requires  the      
   Authority  to use all surplus revenues to fund construction or repairs      
   before  issuing  bonds  to  finance  those  activities.  Requires  the      
   Authority to structure financing of new tollways  and  refinancing  of      
   debt  to  facilitate  conversion of tollways into free State highways.      
   Requires the Authority to report a schedule of that conversion to  the      
   Governor and General Assembly every 2 years. Effective immediately.         
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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