§ 31-17-153. State Bond Commission authorized to make temporary borrowings in anticipation of issuance of state-supported debt.
Pending the issuance of any state-supported debt, the commission is hereby authorized in accordance with the provisions of Sections 31-17-151 through 31-17-181 and on the credit of the state, to make temporary borrowings, from time to time, in anticipation of the issuance of state-supported debt in order to provide funds in such amounts as may, from time to time, be deemed advisable prior to the issuance of state-supported debt. In order to provide for and in connection with such temporary borrowings, the commission is hereby authorized in the name and on behalf of the state, to enter into agreements, which agreements may contain such provisions not inconsistent with the provisions of Sections 31-17-151 through 31-17-181, with any banks, trust companies, investment banking firms or other institutions or persons in the United States of America having the power to enter the same:
(a) To purchase or underwrite an issue or series of issues of notes.
(b) To enter into any purchase, loan, line of credit, credit or similar agreements, and to draw monies, from time to time, pursuant to any such agreements on the terms and conditions set forth therein and to issue notes as evidence of borrowings made under any such agreements.
Such agreements may provide for the compensation of any purchasers or underwriters of such notes by payment of a fee or commission, and for all other costs and expenses, including fees for agreements related to the sale and issuance of notes. All costs and expenses of sale and issuance of notes may be paid from the proceeds of the notes or from any other lawfully available source of monies.
Sources: Laws, 2004, 3rd Ex Sess, ch. 1, § 171, eff from and after passage (approved November 24, 2004.)
§ 31-17-153. State Bond Commission authorized to make temporary borrowings in anticipation of issuance of state-supported debt.
Pending the issuance of any state-supported debt, the commission is hereby authorized in accordance with the provisions of Sections 31-17-151 through 31-17-181 and on the credit of the state, to make temporary borrowings, from time to time, in anticipation of the issuance of state-supported debt in order to provide funds in such amounts as may, from time to time, be deemed advisable prior to the issuance of state-supported debt. In order to provide for and in connection with such temporary borrowings, the commission is hereby authorized in the name and on behalf of the state, to enter into agreements, which agreements may contain such provisions not inconsistent with the provisions of Sections 31-17-151 through 31-17-181, with any banks, trust companies, investment banking firms or other institutions or persons in the United States of America having the power to enter the same:
(a) To purchase or underwrite an issue or series of issues of notes.
(b) To enter into any purchase, loan, line of credit, credit or similar agreements, and to draw monies, from time to time, pursuant to any such agreements on the terms and conditions set forth therein and to issue notes as evidence of borrowings made under any such agreements.
Such agreements may provide for the compensation of any purchasers or underwriters of such notes by payment of a fee or commission, and for all other costs and expenses, including fees for agreements related to the sale and issuance of notes. All costs and expenses of sale and issuance of notes may be paid from the proceeds of the notes or from any other lawfully available source of monies.
Sources: Laws, 2004, 3rd Ex Sess, ch. 1, § 171, eff from and after passage (approved November 24, 2004.)
§ 31-17-153. State Bond Commission authorized to make temporary borrowings in anticipation of issuance of state-supported debt.
Pending the issuance of any state-supported debt, the commission is hereby authorized in accordance with the provisions of Sections 31-17-151 through 31-17-181 and on the credit of the state, to make temporary borrowings, from time to time, in anticipation of the issuance of state-supported debt in order to provide funds in such amounts as may, from time to time, be deemed advisable prior to the issuance of state-supported debt. In order to provide for and in connection with such temporary borrowings, the commission is hereby authorized in the name and on behalf of the state, to enter into agreements, which agreements may contain such provisions not inconsistent with the provisions of Sections 31-17-151 through 31-17-181, with any banks, trust companies, investment banking firms or other institutions or persons in the United States of America having the power to enter the same:
(a) To purchase or underwrite an issue or series of issues of notes.
(b) To enter into any purchase, loan, line of credit, credit or similar agreements, and to draw monies, from time to time, pursuant to any such agreements on the terms and conditions set forth therein and to issue notes as evidence of borrowings made under any such agreements.
Such agreements may provide for the compensation of any purchasers or underwriters of such notes by payment of a fee or commission, and for all other costs and expenses, including fees for agreements related to the sale and issuance of notes. All costs and expenses of sale and issuance of notes may be paid from the proceeds of the notes or from any other lawfully available source of monies.
Sources: Laws, 2004, 3rd Ex Sess, ch. 1, § 171, eff from and after passage (approved November 24, 2004.)
