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Floor Packet Page No. 3
Amend CSSB 1, on page I-14, Bond Review Board, add a new
section as follows:
"Sec.___. Cost Analysis and Legislative Report on
Interest-Only Payments on State Bonds. The Bond Review Board shall
identify, by agency and project, the total amount of general
obligation and revenue bonds for which interest-only was paid on
outstanding debt during fiscal years 2004 and 2005 and for which
interest-only is paid on debt issued or debt outstanding in fiscal
years 2006 and 2007. The Board shall determine the amount of
additional costs incurred for each biennium and the long-term costs
to the state if such a debt policy is continued. The Board shall
report its findings to the Legislature, the Governor, and the
Comptroller of Public Accounts not later than October 1, 2006."