Lease-purchase agreement and the sale and issuance of certificates of participation to fund improvements to or replacement of the state's MAXIS system authorization provision and appropriation

Summary

The bill lets the state’s commissioner sign lease‑purchase deals and sell certificates to raise money for modernizing or replacing the MAXIS system. It sets limits on the loan term, requires that lease payments be funded in the same fiscal year, and outlines how the proceeds are managed. This financing method aims to speed up needed technology improvements without waiting for annual appropriations.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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