Rep. John E. Bradley
Filed: 3/23/2010
 
 

 




 

 		












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AMENDMENT TO SENATE BILL 642 




2
    AMENDMENT NO. ______. Amend Senate Bill 642 on page 9, line 
3
17, after "submitted", by inserting "for State fiscal year 
4
2010"; and


 
5
on page 10, lines 17 and 18, by replacing "the maximum rate 
6
authorized by the Bond Authorization Act" with "3.5% per 
7
annum"; and
 
8
on page 11, immediately below line 9, by inserting the 
9
following:
10
    "(d)  If the Board of Trustees elects to borrow money 
11
pursuant to subsection (c) of this Section, the President of 
12
the University shall, following consultation with the Board of 
13
Trustees, within 15 days after the issuance of the bonds, 
14
submit a backlog bill payment plan to the Governor's Office of 
15
Management and Budget.  No funds derived from the issuance of 
16
the bonds may be expended in part or in whole until and unless 
 


 






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the Director of the Governor's Office of Management and Budget 
2
gives written approval of the backlog bill payment plan to the 
3
University.  Upon receipt of a backlog bill payment plan, the 
4
Governor's Office of Management and Budget must communicate its 
5
written approval or disapproval, as the case may be, within 10 
6
days.
7
    The Board of Trustees must ensure that all payments 
8
specified in the backlog bill payment plan are paid according 
9
to the schedule set forth in the backlog bill payment plan.
10
    For purposes of this subsection (d), "backlog bill payment 
11
plan" means a schedule by which a university borrowing money 
12
pursuant to subsection (c) of this Section will pay vendors who 
13
have vouchers representing payments past due by more than 30 
14
days."; and
 
15
on page 17, line 18, after "submitted", by inserting "for State 
16
fiscal year 2010"; and
 
17
on page 18, lines 19 and 20, by replacing "the maximum rate 
18
authorized by the Bond Authorization Act" with "3.5% per 
19
annum"; and
 
20
on page 19, immediately below line 12, by inserting the 
21
following:
22
        "14.  If the Board elects to borrow money pursuant to 
23
    item 13 of this Section, the President of the University 
 


 






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    shall, following consultation with the Board, within 15 
2
    days after the issuance of the bonds, submit a backlog bill 
3
    payment plan to the Governor's Office of Management and 
4
    Budget.  No funds derived from the issuance of the bonds may 
5
    be expended in part or in whole until and unless the 
6
    Director of the Governor's Office of Management and Budget 
7
    gives written approval of the backlog bill payment plan to 
8
    the University.  Upon receipt of a backlog bill payment 
9
    plan, the Governor's Office of Management and Budget must 
10
    communicate its written approval or disapproval, as the 
11
    case may be, within 10 days.
12
        The Board must ensure that all payments specified in 
13
    the backlog bill payment plan are paid according to the 
14
    schedule set forth in the backlog bill payment plan.
15
        For purposes of this item 14, "backlog bill payment 
16
    plan" means a schedule by which a university borrowing 
17
    money pursuant to item 13 of this Section will pay vendors 
18
    who have vouchers representing payments past due by more 
19
    than 30 days."; and

 
20
on page 24, line 23, after "submitted", by inserting "for State 
21
fiscal year 2010"; and
 
22
on page 25, lines 23 and 24, by replacing "the maximum rate 
23
authorized by the Bond Authorization Act" with "3.5% per 
24
annum"; and
 
 


 






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on page 26, immediately below line 14, by inserting the 
2
following:
3
    "(14) If the Board elects to borrow money pursuant to item 
4
(13) of this Section, the President of the University shall, 
5
following consultation with the Board, within 15 days after the 
6
issuance of the bonds, submit a backlog bill payment plan to 
7
the Governor's Office of Management and Budget.  No funds 
8
derived from the issuance of the bonds may be expended in part 
9
or in whole until and unless the Director of the Governor's 
10
Office of Management and Budget gives written approval of the 
11
backlog bill payment plan to the University.  Upon receipt of a 
12
backlog bill payment plan, the Governor's Office of Management 
13
and Budget must communicate its written approval or 
14
disapproval, as the case may be, within 10 days.
15
    The Board must ensure that all payments specified in the 
16
backlog bill payment plan are paid according to the schedule 
17
set forth in the backlog bill payment plan.
18
    For purposes of this item (14), "backlog bill payment plan" 
19
means a schedule by which a university borrowing money pursuant 
20
to item (13) of this Section will pay vendors who have vouchers 
21
representing payments past due by more than 30 days."; and

 
22
on page 30, line 26, after "submitted", by inserting "for State 
23
fiscal year 2010"; and
 
 


 






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on page 32, lines 1 and 2, by replacing "the maximum rate 
2
authorized by the Bond Authorization Act" with "3.5% per 
3
annum"; and
 
4
on page 32, immediately below line 20, by inserting the 
5
following:
6
        "(13)  If the Board elects to borrow money pursuant to 
7
    item (12) of this Section, the President of the University 
8
    shall, following consultation with the Board, within 15 
9
    days after the issuance of the bonds, submit a backlog bill 
10
    payment plan to the Governor's Office of Management and 
11
    Budget.  No funds derived from the issuance of the bonds may 
12
    be expended in part or in whole until and unless the 
13
    Director of the Governor's Office of Management and Budget 
14
    gives written approval of the backlog bill payment plan to 
15
    the University.  Upon receipt of a backlog bill payment 
16
    plan, the Governor's Office of Management and Budget must 
17
    communicate its written approval or disapproval, as the 
18
    case may be, within 10 days.
19
        The Board must ensure that all payments specified in 
20
    the backlog bill payment plan are paid according to the 
21
    schedule set forth in the backlog bill payment plan.
22
        For purposes of this item (13), "backlog bill payment 
23
    plan" means a schedule by which a university borrowing 
24
    money pursuant to item (12) of  this subsection (a) will pay 
25
    vendors who have vouchers representing payments past due by 
 


 






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    more than 30 days."; and

 
2
on page 40, line 1, after "submitted", by inserting "for State 
3
fiscal year 2010"; and
 
4
on page 41, lines 1 and 2, by replacing "the maximum rate 
5
authorized by the Bond Authorization Act" with "3.5% per 
6
annum"; and
 
7
on page 41, immediately below line 18, by inserting the 
8
following:
9
    "(14) If the Board elects to borrow money pursuant to item 
10
(13) of this Section, the President of the University shall, 
11
following consultation with the Board, within 15 days after the 
12
issuance of the bonds, submit a backlog bill payment plan to 
13
the Governor's Office of Management and Budget.  No funds 
14
derived from the issuance of the bonds may be expended in part 
15
or in whole until and unless the Director of the Governor's 
16
Office of Management and Budget gives written approval of the 
17
backlog bill payment plan to the University.  Upon receipt of a 
18
backlog bill payment plan, the Governor's Office of Management 
19
and Budget must communicate its written approval or 
20
disapproval, as the case may be, within 10 days.
21
    The Board must ensure that all payments specified in the 
22
backlog bill payment plan are paid according to the schedule 
23
set forth in the backlog bill payment plan.
 


 






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    For purposes of this item (14), "backlog bill payment plan" 
2
means a schedule by which a university borrowing money pursuant 
3
to item (13) of this Section will pay vendors who have vouchers 
4
representing payments past due by more than 30 days."; and

 
5
on page 49, line 4, after "submitted", by inserting "for State 
6
fiscal year 2010"; and
 
7
on page 50, lines 4 and 5, by replacing "the maximum rate 
8
authorized by the Bond Authorization Act" with "3.5% per 
9
annum"; and
 
10
on page 50, immediately below line 21, by inserting the 
11
following:
12
    "(15) If the Board elects to borrow money pursuant to item 
13
(14) of this Section, the President of the University shall, 
14
following consultation with the Board, within 15 days after the 
15
issuance of the bonds, submit a backlog bill payment plan to 
16
the Governor's Office of Management and Budget.  No funds 
17
derived from the issuance of the bonds may be expended in part 
18
or in whole until and unless the Director of the Governor's 
19
Office of Management and Budget gives written approval of the 
20
backlog bill payment plan to the University.  Upon receipt of a 
21
backlog bill payment plan, the Governor's Office of Management 
22
and Budget must communicate its written approval or 
23
disapproval, as the case may be, within 10 days.
 


 






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1
    The Board must ensure that all payments specified in the 
2
backlog bill payment plan are paid according to the schedule 
3
set forth in the backlog bill payment plan.
4
    For purposes of this item (15), "backlog bill payment plan" 
5
means a schedule by which a university borrowing money pursuant 
6
to item (14) of this Section will pay vendors who have vouchers 
7
representing payments past due by more than 30 days."; and

 
8
on page 56, line 8, after "submitted", by inserting "for State 
9
fiscal year 2010"; and
 
10
on page 57, lines 8 and 9, by replacing "the maximum rate 
11
authorized by the Bond Authorization Act" with "3.5% per 
12
annum"; and
 
13
on page 57, immediately below line 25, by inserting the 
14
following:
15
    "(14) If the Board elects to borrow money pursuant to item 
16
(13) of this Section, the President of the University shall, 
17
following consultation with the Board, within 15 days after the 
18
issuance of the bonds, submit a backlog bill payment plan to 
19
the Governor's Office of Management and Budget.  No funds 
20
derived from the issuance of the bonds may be expended in part 
21
or in whole until and unless the Director of the Governor's 
22
Office of Management and Budget gives written approval of the 
23
backlog bill payment plan to the University.  Upon receipt of a 
 


 






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1
backlog bill payment plan, the Governor's Office of Management 
2
and Budget must communicate its written approval or 
3
disapproval, as the case may be, within 10 days.
4
    The Board must ensure that all payments specified in the 
5
backlog bill payment plan are paid according to the schedule 
6
set forth in the backlog bill payment plan.
7
    For purposes of this item (14), "backlog bill payment plan" 
8
means a schedule by which a university borrowing money pursuant 
9
to item (13) of this Section will pay vendors who have vouchers 
10
representing payments past due by more than 30 days."; and
 
11
on page 66, line 6, after "submitted", by inserting "for State 
12
fiscal year 2010"; and
 
13
on page 67, lines 6 and 7, by replacing "the maximum rate 
14
authorized by the Bond Authorization Act" with "3.5% per 
15
annum"; and
 
16
on page 67, immediately below line 23, by inserting the 
17
following:
18
    "(15)  If the Board elects to borrow money pursuant to item 
19
(14) of this Section, the President of the University shall, 
20
following consultation with the Board, within 15 days after the 
21
issuance of the bonds, submit a backlog bill payment plan to 
22
the Governor's Office of Management and Budget.  No funds 
23
derived from the issuance of the bonds may be expended in part 
 


 






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or in whole until and unless the Director of the Governor's 
2
Office of Management and Budget gives written approval of the 
3
backlog bill payment plan to the University.  Upon receipt of a 
4
backlog bill payment plan, the Governor's Office of Management 
5
and Budget must communicate its written approval or 
6
disapproval, as the case may be, within 10 days.
7
    The Board must ensure that all payments specified in the 
8
backlog bill payment plan are paid according to the schedule 
9
set forth in the backlog bill payment plan.
10
    For purposes of this item (15), "backlog bill payment plan" 
11
means a schedule by which a university borrowing money pursuant 
12
to item (14) of this Section will pay vendors who have vouchers 
13
representing payments past due by more than 30 days."; and

 
14
on page 73, line 8, after "submitted", by inserting "for State 
15
fiscal year 2010"; and
 
16
on page 74, lines 8 and 9, by replacing "the maximum rate 
17
authorized by the Bond Authorization Act" with "3.5% per annum; 
18
and
 
19
on page 74, immediately below line 25, by inserting the 
20
following:
21
    "(14)  If the Board elects to borrow money pursuant to item 
22
(13) of this Section, the President of the University shall, 
23
following consultation with the Board, within 15 days after the 
 


 






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1
issuance of the bonds, submit a backlog bill payment plan to 
2
the Governor's Office of Management and Budget.  No funds 
3
derived from the issuance of the bonds may be expended in part 
4
or in whole until and unless the Director of the Governor's 
5
Office of Management and Budget gives written approval of the 
6
backlog bill payment plan to the University.  Upon receipt of a 
7
backlog bill payment plan, the Governor's Office of Management 
8
and Budget must communicate its written approval or 
9
disapproval, as the case may be, within 10 days.
10
    The Board must ensure that all payments specified in the 
11
backlog bill payment plan are paid according to the schedule 
12
set forth in the backlog bill payment plan.
13
    For purposes of this item (14), "backlog bill payment plan" 
14
means a schedule by which a university borrowing money pursuant 
15
to item (13) of this Section will pay vendors who have vouchers 
16
representing payments past due by more than 30 days.".