§39A‑196  Issuance of special purpose
revenue bonds to finance energy projects.  In addition to the other powers
which it may otherwise have, the department may issue special purpose revenue
bonds to finance, in whole or in part, the costs of an energy project.  All
bonds issued under this part are special purpose revenue bonds and the
provisions of part III of chapter 39 shall not apply thereto.  All special
purpose revenue bonds issued pursuant to this part shall be issued in the name
of the department and not in the name of the State.



The department in determining the cost of any
energy project, may also include the following:



(1)  Financing charges, fees, and expenses of any
trustee and paying agents for special purpose revenue bonds issued to pay the cost
of such energy project;



(2)  Interest on such bonds and the expenses of the
State in connection with such bonds and the energy project to be financed from
the proceeds of such bonds accruing or incurred prior to and during the period
of construction and for not exceeding six months thereafter;



(3)  Amounts necessary to establish or increase
reserves 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 the
feasibility or practicability of the energy project;



(6)  Administration expenses;



(7)  Interest cost incurred by the project party with
respect to the energy project prior to the issuance of the special purpose
revenue bonds; and



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



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