§516-103  Revenue bonds; interest rate,
price, and sale.  (a)  The revenue bonds shall bear interest at a rate or
rates payable monthly, quarterly, or semiannually.



(b)  The corporation shall include the costs of
undertaking and maintaining the acquisition loan programs for which the revenue
bonds are issued in determining the principal amount of revenue bonds to be
issued.  In determining the cost of undertaking and maintaining the acquisition
loan programs, the corporation may include the cost of purchasing or funding
loans or other agreements entered into for the acquisition loan programs; the
costs of studies and surveys; insurance premiums; underwriting fees; financial
consultant, legal, accounting, and marketing services incurred; reserve
account, trustee, custodian, and rating agency fees; and interest on the bonds
for a period not to exceed one year from the date of issuance.



(c)  The revenue bonds may be sold at public or
private sale, and for a price as may be determined by the corporation to be in
the best interest of the State.



(d)  Section 39-65 shall not apply to revenue
bonds issued for the purpose of undertaking and maintaining any of the
acquisition loan programs as permitted by this part.  The legislature consents
to the taxation by the United States of America of interest on revenue bonds
issued for the purpose of undertaking and maintaining any of the acquisition
loan programs as permitted by this part. [L 1983, c 270, pt of §1; am L 1987, c
337, §16; am L 1988, c 104, §2; am L 2005, c 196, §26(b); am L 2006, c 180, §16]



 



Revision Note



 



  Section "39-65" substituted for "39-61".