§39A-197  Authorization of special purposerevenue bonds.  (a)  Special purpose revenue bonds for each single projector multiproject program for each type of utility serving the general publicshall be authorized by a separate act of the legislature, by an affirmativevote of two-thirds of the members to which each house is entitled; providedthat the legislature shall find that the issuance of such bonds is in thepublic interest; provided further that no authorization shall be made for aperiod exceeding five years of its enactment.  Any such special purpose revenuebond authorization, or any portion of such special purpose revenue bondauthorization, which has not been issued at the close of the fiscal year forthe period for which the authorization is made, shall lapse.  Special purposerevenue bonds issued pursuant to this part may be in one or more series foreach energy project.  The special purpose revenue bonds of each issue shall bedated, shall bear interest at such rate or rates, shall mature at such time ortimes not exceeding thirty years from their date or dates, shall have such rankor priority and may be made redeemable before maturity at the option of thedepartment, at such price or prices and under such terms and conditions, all asmay be determined by the department.  The department shall determine the formof the special purpose revenue bonds, including any interest coupons to beattached thereto, and the manner of execution of the special purpose revenuebonds, and shall fix the denomination or denominations of the special purposerevenue bonds and the place or places of payment of principal and interest,which may be at any bank or trust company within or without the State.  Thespecial purpose revenue bonds may be issued in coupon or in registered form, orboth, as the department may determine, and provisions may be made for theregistration of any coupon bonds as to principal alone and also as to bothprincipal and interest, and for the reconversion into coupon bonds of any bondsregistered as to both principal and interest.  The department may sell specialpurpose revenue bonds in such manner, either at public or at private sale, andfor such price as it may determine.

(b)  Prior to the preparation of definitivespecial purpose revenue bonds, the department may issue interim receipts ortemporary bonds, with or without coupons, exchangeable for definitive bondswhen such bonds have been executed and are available for delivery.

(c)  Should any bond issued under this part orany coupon appertaining thereto become mutilated or be lost, stolen, ordestroyed, the department upon the cancellation of such mutilated bond orcoupon, may cause a new bond or coupon of like date, number, and tenor to beexecuted and delivered in exchange and substitution for, in lieu of and insubstitution for such lost, stolen, or destroyed bond or coupon.  Such new bondor coupon shall not be executed or delivered until the holder of the mutilated,lost, stolen, or destroyed bond or coupon has (1) paid the reasonable expenseand charges in connection therewith, and (2) in the case of a lost, stolen, ordestroyed bond or coupon, has filed with the department or its fiduciary,evidence satisfactory to such department or its fiduciary that such bond orcoupon was lost, stolen, or destroyed and that the holder was the ownerthereof, and (3) has furnished indemnity satisfactory to the department.

(d)  The department may provide that CUSIPidentification numbers shall be imprinted on any such bonds.  In the event suchnumbers are imprinted on any such bonds (1) no such number shall constitute apart of the contract evidenced by the particular bond upon which it isimprinted, and (2) no liability shall attach to the department or any officeror agent thereof, including any fiscal agent, paying agent, or registrar forsuch bonds, by reason of such numbers or any use made thereof, including anyuse thereof made by the department, any such officer, or any such agent, or byreason of any inaccuracy, error, or omission with respect thereto or in suchuse.  The department may require that all costs of obtaining and imprintingsuch numbers shall be paid by the purchaser of such bonds.  For the purposes ofthis subsection, the term "CUSIP identification numbers" means thenumbering system adopted by the Committee for Uniform Security IdentificationProcedures formed by the Securities Industry Association. [L 1981, c 151, pt of§2; am L 2001, c 148, §6]