§39A-227  Authorization of specialpurpose revenue bonds.  (a)  Special purpose revenue bonds for each singleproject or multi-project program for early childhood education and carefacilities serving the general public shall be authorized by a separate act ofthe legislature, by an affirmative vote of two-thirds of the members to whicheach house is entitled; provided that the legislature shall find that theissuance of such bonds is in the public interest; provided further that noauthorization shall be made for a period exceeding five years of itsenactment.  Any such special purpose revenue bond authorization, or any portionof such special purpose revenue bond authorization, which has not been issuedat the close of the fiscal year for the period for which the authorization ismade, shall lapse.  Special purpose revenue bonds issued pursuant to this partmay be in one or more series for each project.  The special purpose revenuebonds of each issue shall be dated, shall bear interest at such rate or rates,shall mature at such time or times not exceeding forty years from their date ordates, shall have such rank or priority and may be made redeemable beforematurity at the option of the department, at such price or prices and undersuch terms and conditions, all as may be determined by the department.  Thedepartment shall determine the form of the special purpose revenue bonds,including any interest coupons to be attached thereto, and the manner ofexecution of the special purpose revenue bonds, and shall fix the denominationor denominations of the special purpose revenue bonds and the place or placesof payment of principal and interest, which may be at any bank or trust companywithin or without the State.  The special purpose revenue bonds may be issuedin coupon or in registered form, or both, as the department may determine, andprovisions may be made for the registration of any coupon bonds as to principalalone and also as to both principal and interest, and for the reconversion intocoupon bonds of any bonds registered as to both principal and interest.  Thedepartment may sell special purpose revenue bonds in such manner, either atpublic or private sale, and for 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 may cause a new bond or coupon of like date, number,and tenor to be executed and delivered in exchange and substitution for, andupon the cancellation of such mutilated bond or coupon, or 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; (2) in the case of a lost, stolen, ordestroyed bond or coupon, has filed with the department or its fiduciaryevidence 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 in its discretion mayprovide that CUSIP identification numbers shall be printed on such bonds.  Inthe event such numbers are imprinted on any such bonds (1) no such number shallconstitute a part of the contract evidenced by the particular bond upon whichit is imprinted, and (2) no liability shall attach to the department or anyofficer or agent thereof, including any fiscal agent, paying agent, orregistrar for such bonds, by reason of such numbers or any use made thereof,including any use thereof made by the department, any such officer, or any suchagent, or by reason of any inaccuracy, error, or omission with respect theretoor in such use.  The department in its discretion may require that all costs ofobtaining and imprinting such numbers shall be paid by the purchaser of suchbonds.  For the purposes of this subsection, the term "CUSIPidentification numbers" means the numbering system adopted by theCommittee for Uniform Security Identification Procedures formed by theSecurities Industry Association. [L 1994, c 280, pt of §6; am L 2001, c 148,§7]