§39A‑156  Issuance of special purposerevenue bonds to finance projects.  In addition to the other powers whichit may otherwise have, the department may issue special purpose revenue bondsto finance, in whole or in part, the costs of facilities of, or for, or to loanthe proceeds of such bonds to assist project parties.  All revenue bonds issuedunder this part are special purpose revenue bonds and the provisions of partIII of chapter 39 shall not apply thereto.  All special purpose revenue bondsshall be issued in the name of the department and not in the name of the State.

The department in determining the cost of anyproject, 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 for 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.

The legislature finds and determines that theexercise of the powers vested in the department by this part constitutesassistance to an industrial 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 122, ptof §2]