Bill No.: HB0166                  Drafter:  DKG

 

LSO No.:  05LSO-0325              Effective Date:  7/1/2005

 

Enrolled Act No.:  HEA0119

 

Chapter No.:       208

 

Prime Sponsor:     Representative Illoway

 

Catch Title:       Loans for airport development.

 

Subject:  Amounts and interest rate on loans made by the aeronautics commission for airport development.

 

 

Summary/Major Elements:

 

·        Increases the amount which can be loaned by the aeronautics commission to counties, cities, towns and joint powers boards for airport development and improvement from four million to ten million dollars.

 

·        Changes the interest rates on loans to five percent per annum (the rate was tied to other loan rates).