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interest rates on and to sell State bonds, determine the
conditions thereof in advertising the sale of bonds, and
approves all contractors for expenditures from the proceeds
of any loans authorized by the General Assembly.
Similarly, it supervises expenditure of all sum>
appropriated for the acquisition of land, buildings, equip-
ment, new construction, and other capital expenditures,
except those in connection with State roads and bridges.
It has broad authority over all State property or rights,
having the power of transfer and disposal of State real or
personal property.
The board has the power to borrow on the credit
of the State, issue tax anticipation notes, within legally
specified limits.
The Board supervises the administration of the
General Emergency Fund.
The Board establishes the State Property Tax
rate.
The Committee believes that the vesting of these
powers in a three-man board not responsible to the Governor,
the majority of which is not even appointed by the Governor,