SB 5656-S - DIGEST

 

                      (DIGEST OF PROPOSED 1ST SUBSTITUTE)

 

      Authorizes the public works board to award low-interest or interest-free loans to local governments for construction of new public works facilities.

      Requires repayment of the loans within twenty years.

      Establishes criteria for awarding loans.

      Makes an appropriation of seven million  dollars to carry out the purposes of the act.