COMMITTEE ON EDUCATION
HOUSE OF REPRESENTATIVES AMENDMENTS TO H.B. 2253
(Reference to printed bill)
Page 9, line 31, strike "the" insert "any method including"
Line 32, after the comma, strike remainder of line; strike
lines 33, 34 and 35, insert "design-build,
design-bid-build, or job-order-contracting as provided by title 41, chapter
23. the construction planning and
services performed pursuant to this subsection are exempt from the provisions
of section 41-791.01.
J. The school facilities board may enter into agreements with school districts to allow school facilities board staff and contractors access to school property for the purposes of performing the construction services necessary pursuant to subsection I of this section."
Line 41, strike "vendors" insert "pay contractors"
Page 10, line 33, strike "vendors" insert "pay contractors"
Page 11, between lines 16 and 17, insert:
"Sec. 4. Section 15-2081, Arizona Revised Statutes, is amended to read:
15-2081. Authorization of state school improvement revenue bonds
A. The school facilities board may issue revenue bonds in a principal amount not to exceed eight hundred million dollars pursuant to this article. The bonds may be issued for the following purposes:
1. To provide monies to pay the cost of:
(a) Correcting existing deficiencies as prescribed by section 15‑2021.
(b) Bond related expenses including any expenses incurred by the school facilities board to issue and administer its bonds including underwriting fees and costs, trustee fees, financial consultant fees, printing and advertising costs, paying agent fees, transfer agent fees, legal, accounting, feasibility consultant and other professional fees and expenses, bond insurance or other credit enhancements or liquidity facilities, attorney and accounting fees and expenses related to credit enhancement, bond insurance or liquidity enhancement, remarketing fees, rating agency fees and costs, travel and telephone expenses and all other fees considered necessary by the school facilities board in order to market and administer the bonds.
2. To fully or partially fund any reserves or sinking accounts established by the bond resolution.
B. The school facilities board shall authorize the bonds by resolution. The resolution shall prescribe:
1. The fixed or variable rate or rates of interest, the date or dates on which interest is payable and the denominations of the bonds.
2. The date or dates of the bonds and maturity, within twenty years after the date of issuance.
3. The form of the bonds.
4. The manner of executing the bonds.
5. The medium and place of payment.
6. The terms of redemption, which may provide for a premium for early redemption.
C. The bonds issued pursuant to this article shall be known as state school improvement revenue bonds.
d. The authority of the school facilities board to issue school
improvement bonds pursuant to this article expires from and after June 30,
2003, except for bonds issued to refund any bonds issued by the board.
Sec. 5. Section 15-2085, Arizona Revised Statutes, is amended to read:
15-2085. Securing principal and interest
A. In connection with issuing bonds authorized by this article and to secure the principal and interest on the bonds, the school facilities board by resolution may:
1. Segregate the school improvement revenue bond debt service fund into one or more accounts and subaccounts and provide that bonds issued under this article may be secured by a lien on all or part of the monies paid into the revenue bond debt service fund or into any account or subaccount in the fund.
2. Provide that the bonds issued under this article are secured by a first lien on the monies paid into the school improvement revenue bond debt service fund as provided by section 37-521, subsection B, paragraph 1 and section 42-5029, subsection E and paragraph 1 pledge and assign to or in trust for the benefit of the holder or holders of the bonds all or part of the monies in the school improvement revenue bond debt service fund, in any account or subaccount in the fund or in the school improvement revenue bond proceeds fund as is necessary to secure and pay the principal, the interest and any premium on the bonds as they come due.
3. Establish priorities among bondholders based on criteria adopted by the board.
4. Set aside, regulate and dispose of reserves and sinking accounts.
5. Prescribe the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent to and the manner in which the consent may be given.
6. Provide for payment of bond related expenses from the proceeds of the sale of the bonds or other revenues authorized by this article and available to the board.
7. Provide for the services of trustees, cotrustees, agents and consultants and other specialized services with respect to the bonds.
8. Take any other action that in any way may affect the security and protection of the bonds or interest on the bonds.
9. Refund any bonds issued by the board, if these bonds are secured from the same source of revenues as the bonds authorized by this article, by issuing new bonds, whether at or before maturity of the bonds being refunded.
10. Issue bonds partly to refund outstanding bonds and partly for any other purpose consistent with this article.
B. Bonds issued to refund any bonds issued by the board as provided by subsection A, paragraphs 9 and 10 of this section are not subject to legislative authorization or subject to the eight hundred million dollar limitation prescribed by section 15-2081, subsection A."
Renumber to conform
Page 12, between lines 4 and 5 insert:
"Sec. 7. Section 41-3008.19, Arizona Revised Statutes, is amended to read:
41-3008.19. School facilities board; termination July 1, 2008
A. The school facilities board terminates on July 1, 2008.
B. Title 15, chapter 16 is repealed on January 1, 2009 only if either:
1. The board has no outstanding state school facilities revenue bonds issued pursuant to title 15, chapter 16, article 6 and no outstanding school improvement bonds issued PURSUANT to title 15, chapter 16, article 7.
2. The legislature has otherwise provided for paying or retiring any outstanding state school facilities revenue bonds and any outstanding state school improvement bonds.
C. If neither of the conditions in subsection B have occurred by January 1, 2009, title 15, chapter 16 is repealed thirty days after the retirement of all revenue bonds issued pursuant to title 15, chapter 16, article 6 and title 15, chapter 16, article 7."
Renumber to conform
Page 12, line 30, strike "5 and 6" insert "8 and 9"