§39A‑116  Issuance of special purposerevenue bonds to finance projects.  (a)  In addition to the other powerswhich it may otherwise have, the department may issue special purpose revenuebonds to finance, in whole or in part, the costs of facilities of, or for, orto loan the proceeds of such bonds to assist project parties.  All revenuebonds issued under this part are special purpose revenue bonds and theprovisions of part III of chapter 39 shall not apply thereto.  All specialpurpose revenue bonds shall be issued in the name of the department and not inthe name of the State.

(b)  The department, in determining the cost ofany project, may also include the following:

(1)  Financing charges, fees, and expenses of anytrustee and paying agents for special purpose revenue bonds issued to pay thecost of such project;

(2)  Interest on such bonds and the expenses of theState in connection with such bonds and the project to be financed from theproceeds of such bonds accruing or incurred prior to and during the estimatedperiod of construction and not exceeding twelve months thereafter;

(3)  Amounts necessary to establish or increasereserves for the special purpose revenue bonds;

(4)  The cost of plans, specifications, studies,surveys, and estimates of costs and of revenues;

(5)  Other expenses incidental to determining thefeasibility or practicability of the project;

(6)  Administration expenses;

(7)  Legal, accounting, consulting, and other specialservice fees;

(8)  Interest cost incurred by the project party withrespect to the project prior to the issuance of the special purpose revenuebonds; and

(9)  Such other costs, commissions, and expensesincidental to the construction, acquisition, reconstruction, renovation,rehabilitation, improvement, betterment, operation, maintenance, or extensionof the project, the financing, placing of same in operation, and the issuanceof the special purpose revenue bonds, whether incurred prior to or after theissuance of such bonds.

(c)  The legislature finds and determines thatthe exercise of the powers vested in the department by this part constitutesassistance to a processing enterprise and that the issuance of special purposerevenue bonds to finance facilities of, or for, or to loan the proceeds of suchbonds to assist, project parties, is in the public interest. [L 1981, c 121, ptof §2; am L 1982, c 147, §3]