§39-70  Bond anticipation notes.  Inanticipation of the issuance of revenue bonds pursuant to this part theretoforeauthorized by the legislature for an undertaking or a loan program and of thereceipt of the proceeds of such revenue bonds, the department havingjurisdiction over the undertaking or a loan program, with the approval of thegovernor, may issue and sell revenue bond anticipation notes for the purposesfor which the revenue bonds have been authorized, the maximum principal amountof which shall not exceed the authorized principal amount of the revenuebonds.  The notes shall be payable solely from and secured by the proceeds ofthe sale of the revenue bonds in anticipation of which they were issued and therevenue, or the user taxes, or a combination of both, which would be payablefrom and secured by the revenue bonds; provided that to the extent theprincipal of the notes is paid from moneys other than the proceeds of sale ofthe revenue bonds, the maximum amount of revenue bonds in anticipation of whichthe notes are issued that has been authorized shall be reduced by the amount ofthe notes paid.  The issuance of notes and the details thereof shall begoverned by this part with respect to revenue bonds insofar as it may apply;provided that each note, together with all renewals and extensions thereof orrefundings thereof by other notes issued pursuant to this section, shall maturewithin five years from the date of the original note. [L 1988, c 28, pt of §3]