(a) Two or more municipalities may, subject to the provisions of section 10a-185 and chapter 187 and the approval of the legislative body of each such municipality, jointly borrow from any source for the purpose of paying for all or part of the cost of any project entered into jointly to abate a deleterious condition on real property that, if left unabated, would cause the collapse of a concrete foundation due to the presence of pyrrhotite and damage the housing stock in such participating municipalities to such an extent that a negative impact on such participating municipalities’ economies would result.
(b) In addition to the powers enumerated in section 7-148, any two or more municipalities who jointly borrow pursuant to subsection (a) of this section may enter into an agreement with the captive insurance company established pursuant to section 38a-91vv, or any participating lender, as defined in section 8-442, to jointly or otherwise provide financial assistance to owners of residential buildings with concrete foundations that have deteriorated due to the presence of pyrrhotite.
(June Sp. Sess. P.A. 17-2, S. 343.)
History: June Sp. Sess. P.A. 17-2 effective October 31, 2017.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.