§206E-153  Revenue bonds; authorization. (a)  The authority, with the approval of the governor, may issue from time totime revenue bonds in amounts not exceeding the total amount of bondsauthorized to be issued by the legislature for the purpose of constructing,acquiring, remodeling, furnishing, and equipping any public facility, includingacquisition of the site thereof.

(b)  All revenue bonds shall be issued pursuantto part III of chapter 39, except as provided in this part.

(c)  The revenue bonds under this part aredeclared to be issued for a public purpose and, together with interest thereon,shall be exempt from all state and county taxation except estate and transfertaxes.  The legislature consents to federal income taxation of interest on revenuebonds issued under this part, if it is determined by the authority that suchissuance is in the best interest of the State.

(d)  The revenue bonds shall be issued in thename of the authority and not in the name of the State.  The final maturity dateof the revenue bonds may be any date not exceeding thirty years from the dateof issuance. [L 1985, c 268, pt of §1; am L 1987, c 138, §1]