State Building Authority Act

The act creates a state building authority as a public body empowered to finance and provide buildings and related facilities for state agencies, municipalities, and community college districts. It establishes the authority's governance — commissioners subject to defined appointment and removal terms, an executive director, and conflict-of-interest standards — and authorizes it to issue bonds and notes, refund outstanding obligations, hold and deposit its funds, and enter into leases and other agreements with the state and other public bodies. Accompanying provisions set procedures that must be followed before a building development or project is financed, exempt the authority from taxation, limit liability on its obligations, define the remedies available to bond and note holders, and require annual reporting.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.