§39A‑196  Issuance of special purposerevenue bonds to finance energy projects.  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 an energy project.  Allbonds 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 issued pursuant to this part shall be issued in the nameof the department and not in the name of the State.

The department in determining the cost of anyenergy 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 the costof such energy project;

(2)  Interest on such bonds and the expenses of theState in connection with such bonds and the energy project to be financed fromthe proceeds of such bonds accruing or incurred prior to and during the periodof construction and for not exceeding six 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 cost and of revenues;

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

(6)  Administration expenses;

(7)  Interest cost incurred by the project party withrespect to the energy project prior to the issuance of the special purposerevenue bonds; and

(8)  Such other costs, commissions, and expensesincidental to the construction, acquisition, reconstruction, renovation,rehabilitation, improvement, betterment, operation, or extension of the energyproject, the financing thereof, placing of the energy project in operation, andthe issuance of the special purpose revenue bonds, whether incurred prior to orafter the issuance of such bonds.

The legislature finds and determines that theexercise of the powers vested in the department by this part constitutesassistance to utilities serving the general public and that the issuance ofspecial purpose revenue bonds to finance facilities of, or for, or to loan theproceeds of such bonds to assist, project parties, is in the public interest.[L 1981, c 151, pt of §2]