§39A‑76  Issuance of special purpose
revenue bonds to finance 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 facilities of, or for, or to loan
the proceeds of such bonds to assist project parties.  All revenue 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
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
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 project;



(2)  Interest on such bonds and the expenses of the
State in connection with such bonds and the project to be financed from the
proceeds of such bonds accruing or incurred prior to and during the estimated
period of construction and not exceeding twelve 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 costs and of revenues;



(5)  Other expenses incidental to determining the
feasibility or practicability of the project;



(6)  Administration expenses;



(7)  Legal, accounting, consulting, and other special
service fees;



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



(9)  Such other costs, commissions, and expenses
incidental to the construction, acquisition, reconstruction, renovation,
rehabilitation, improvement, betterment, operation, maintenance, or extension
of the project, the financing, placing of same 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 a manufacturing enterprise 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
120, pt of §2]