§46-107  Tax increment bond anticipation
notes.  Whenever the county has authorized the issuance of tax increment
bonds under this part, tax increment bond anticipation notes of the county may
be issued in anticipation of the issuance of such bonds and of the receipt of
the proceeds of sale thereof, for the purposes for which such bonds have been
authorized.  All tax increment bond anticipation notes shall be authorized by
the county, and the maximum principal amount of such 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 tax increment bonds in
anticipation of which the notes are issued and the moneys in the tax increment
fund from which would be payable and by which would be secured such bonds;
provided that to the extent that the principal of the notes shall be paid from
moneys other than the proceeds of sale of such bonds, the maximum amount of
bonds authorized in anticipation of which the notes are issued shall be reduced
by the amount of notes paid in such manner.  The authorization, issuance, and
details of such notes shall be governed by this part with respect to tax
increment bonds insofar as the same may be applicable; provided that each note,
together with 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 1985, c 267, pt of §1]