(a) There is established a fund to be known as the “Economic Assistance Bond Fund”. The fund shall contain any moneys required by law to be deposited in the fund and shall be accounted for separately from all other moneys, funds and accounts.

(b) The proceeds from the sale of bonds and any bond anticipation notes issued for the purposes of sections 32-220 to 32-234, inclusive, shall be deposited into the fund, except for any refunding bonds and bonds issued to refund bond anticipation notes. The proceeds from bonds and bond anticipation notes deposited into the fund shall be applied to pay the financial assistance provided for in said sections and administrative expenses and other costs incurred by the department for bond-financed state programs authorized by said sections, the State Bond Commission in accordance with section 3-20, and the act or acts pursuant to which such bonds and bond anticipation notes were issued.

(P.A. 90-270, S. 11, 38; P.A. 91-340, S. 6, 8; P.A. 93-382, S. 12, 69; P.A. 96-181, S. 120, 121.)

History: P.A. 91-340 made a technical change to the references to “sections 32-220 to 32-234, inclusive,” in Subsecs. (b) and (c) (made necessary by the codification of new Sec. 32-222a), but the change necessitated no substantive change to the wording of this section as codified; P.A. 93-382 deleted former Subsec. (d) re annual report to general assembly committees, effective July 1, 1993; P.A. 96-181 deleted former Subsec. (c) imposing maximum amount for expenditures for administrative expenses, effective July 1, 1996.