§39A‑118  Special purpose revenue bond
anticipation notes.  Whenever the department has authorized the issuance of
special purpose revenue bonds under this part, special purpose revenue bond
anticipation notes of the department may be issued in anticipation of the
issuance of such bonds and of the receipt of the proceeds of sale thereof, for
the purposes for which such bonds have been authorized.  All special purpose
revenue bond anticipation notes shall be authorized by the department, and the
maximum principal amount of such notes shall not exceed the authorized
principal amount of such bonds.  The notes shall be payable solely from and
secured solely by the proceeds of sale of the special purpose revenue bonds in
anticipation of which the notes are issued and the revenues from which would be
payable and by which would be secured such bonds; provided that to the extent
that the principal of the notes shall be paid from moneys other than the
proceeds of sale of such bonds, the maximum amount of bonds in anticipation of
which the notes are issued that has been authorized shall be reduced by the
amount of notes paid in such manner.  The authorization, issuance, and the
details of such notes shall be governed by the provisions of this part with
respect to special purpose revenue bonds insofar as the same may be applicable;
provided that each note, together with all renewals and extensions thereof, or
refundings thereof by other notes issued under this section, shall mature
within five years from the date of the original note. [L 1981, c 121, pt of §2]