[§171-144]  Issuance of revenue bonds. (a)  The board may issue revenue bonds in the name of the department in suchamounts as may be authorized by the legislature.  Except as provided in thischapter, all revenue bonds shall be issued pursuant to part III of chapter 39to finance, in whole or in part, the costs of construction, acquisition, ormaintenance of any industrial park and to pledge or assign for the punctualpayment of the revenue bonds, and interest thereon, any and all revenuesderived from any industrial park or parks undertaken by the board, in an amountsufficient to pay the principal and interest of the revenue bonds as theybecome due, and to create and maintain reasonable reserves or sinking fundstherefor.  Funds of the board, not otherwise required, may be advanced to paynecessary expenses incurred in preparation for the issuance of the revenuebonds.  The board may take any other appropriate action in connection with theissuance of revenue bonds.

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

(c)  The board, with the approval of thegovernor, may designate by resolution one or more industrial parks undertakenpursuant to this chapter as an "undertaking" as defined in section39-51 and for purposes of part III of chapter 39. [L 1994, c 162, pt of §1]