§39A-314  Conditions precedent
to negotiating and entering into a project agreement.  (a)  Prior to
entering into negotiations with respect to a project agreement or at any time
during the negotiations, the department shall require that as a condition to the
negotiations or the continuation thereof, the project party shall agree to pay
all fees, costs, and expenses assessed by the department even though a project
agreement may not be entered into.  The department may further require the
deposit of moneys with the department as security to pay for fees, costs, and
expenses.  Any amount of the deposit in excess of the amount required to pay
the State shall be returned by the department to the party that has made the
deposit.  The State shall not be required to pay to the project party any
interest or earnings on the deposit.



(b)  The department shall not enter into any
project agreement with respect to any project unless the legislature shall have
first authorized the issuance of special purpose revenue bonds to finance the
project pursuant to section 39A-317 and the department has determined that:



(1)  The project party is a responsible party, whether
by reason of economic assets or experience in the type of enterprise to be
undertaken through the project, or otherwise; or



(2)  The obligations of the project party under the
project agreement will be unconditionally guaranteed by a person who is a
responsible party, whether by reason of economic assets or experience in the
type of enterprise to be undertaken through the project, or otherwise. [L 2006,
c 148, pt of §1; am L 2007, c 44, §17]