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Constitutional Convention Commission (Committee Hearings, Testimony)
Volume 422, Page 820   View pdf image (33K)
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120

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such a question, why Mr. Case could never sell any of their

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bonds; but there is always the possibility of a technical

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default because of an error in estimating or because such

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appropriations are not available. I think it's just another

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safeguard for the bond holder to have a provision that says

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in any case where such appropriations are not available for

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debt service, the Comptroller should withhold the first

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proceeds from the general fund of the State and placing it

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aside for that debt service on a legally incurred debt.

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Now, I am a firm believer in comprehensive bud-

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geting. I wish Mr. Rennie were here. I hope he will

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comment to me later on this. It seems to me that at the

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time the Governor and the legislature consider appropriatioi

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they must have a true picture of all monies available to th

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State. This allows them to make more intelligent decisions

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on State programs and policies.

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In order to obtain flexibility, public administra-

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tors, and 1 am one of them, are continually chipping away

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at this system to receive authority to spend funds other

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than those appropriated. For example, Federal grants

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authorized after the budget has been passed are commonly



 

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Constitutional Convention Commission (Committee Hearings, Testimony)
Volume 422, Page 820   View pdf image (33K)
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