28-7611. Definitions In this article, unless the context otherwise requires: 1. " Grant agreement" means a written agreement between the director and the United States of America or any of its departments or agencies by which the director will receive a grant to construct a project or to reimburse the director for monies spent with […]
28-7612. Grant anticipation notes After the director has entered into one or more grant agreements, the board may issue and sell grant anticipation notes. The principal, premium, if any, and interest on the notes shall be paid solely from any of the following: 1. The grant revenues. 2. If provided by the board at the […]
28-7613. Refund The board may issue grant anticipation notes to refund grant anticipation notes previously issued and other obligations, the proceeds of which were or are to be applied to the financing of the project to which the grant agreement relates.
28-7614. Limitations The amount of grant anticipation notes secured by grant revenues issued by the director shall not exceed the aggregate of all uncollected grant revenues to be received by the board.
28-7615. Application of grant revenues; grant anticipation notes fund; payment of notes A. On the issuance of any grant anticipation notes, the grant revenues to be received by the director pursuant to the applicable grant agreement shall be collected and, as provided by the board at the time of authorizing the issuance of the grant […]
28-7616. Use of proceeds The proceeds from the sale of the notes shall be used by the director for payment of any of the following: 1. Costs and expenses incurred in the construction or acquisition of the project for which the grant or grants are being made. 2. Legal and financial costs and expenses incurred […]
28-7617. Nature of grant anticipation notes; limited obligation A. Grant anticipation notes issued under this article are not general obligations of the department, any public officer or employee of the department or this state. B. The notes are limited obligations payable solely from grant revenues received by the director and, if provided by the board […]
28-7618. Attorney general note certification A. The board may submit to the attorney general any notes to be issued under this article after all proceedings for the authorization of the notes have been taken. On the submission of the proceedings to the attorney general, the attorney general shall investigate and determine the validity of the […]
