SB 5345-S - DIGEST

(SUBSTITUTED FOR - SEE 2ND SUB)

     Creates the school district credit enhancement program.

     Declares that the full faith, credit, and taxing power of the state is pledged to guarantee full and timely payment of the principal of and interest on bonds as such payments become due.

     Provides that any district, by resolution of its board of directors, may request that the state treasurer issue a certificate evidencing the state's guaranty, under this act, of its bonds.

     Requires approval by the voters at the next general election.