[§171-144]  Issuance of revenue bonds. 
(a)  The board may issue revenue bonds in the name of the department in such
amounts as may be authorized by the legislature.  Except as provided in this
chapter, all revenue bonds shall be issued pursuant to part III of chapter 39
to finance, in whole or in part, the costs of construction, acquisition, or
maintenance of any industrial park and to pledge or assign for the punctual
payment of the revenue bonds, and interest thereon, any and all revenues
derived from any industrial park or parks undertaken by the board, in an amount
sufficient to pay the principal and interest of the revenue bonds as they
become due, and to create and maintain reasonable reserves or sinking funds
therefor.  Funds of the board, not otherwise required, may be advanced to pay
necessary expenses incurred in preparation for the issuance of the revenue
bonds.  The board may take any other appropriate action in connection with the
issuance of revenue bonds.



(b)  All revenue bonds issued pursuant to this
chapter shall be issued in the name of the department and not in the name of
the State.



(c)  The board, with the approval of the
governor, may designate by resolution one or more industrial parks undertaken
pursuant to this chapter as an "undertaking" as defined in section
39-51 and for purposes of part III of chapter 39. [L 1994, c 162, pt of §1]