[§39A‑318]  Special purpose revenue
bond anticipation notes.  Whenever the department has authorized the
issuance of special purpose revenue bonds under this part, special purpose
revenue bond anticipation notes of the department may be issued in anticipation
of the issuance of the bonds and of the receipt of the proceeds of sale of the
bonds, for the purposes for which the bonds have been authorized.  All special
purpose revenue bond anticipation notes shall be authorized by the department,
and the maximum principal amount of the notes shall not exceed the authorized
principal amount of the bonds.  The notes shall be payable solely from and
secured solely by the proceeds of sale of the special purpose revenue bonds in
anticipation of which the notes are issued and the revenues from which would be
payable and by which the bonds would be secured; provided that to the extent
that the principal of the notes shall be paid from moneys other than the
proceeds of sale of the bonds, the maximum amount of bonds in anticipation of
which the notes are issued that has been authorized shall be reduced by the
amount of notes paid in such manner.  The authorization, issuance, and the
details of the notes shall be governed by this part with respect to special
purpose revenue bonds insofar as the same may be applicable; provided that each
note, together with all renewals and extensions thereof, or refundings thereof
by other notes issued under this section, shall mature within five years from
the date of the original note. [L 2006, c 148, pt of §1]