28-7691. Definitions In this article, unless the context otherwise requires: 1. " Excise taxes" means all unrestricted excise, transaction, franchise, privilege and business taxes, state shared sales and income taxes, fees for licenses and permits and state revenue sharing that are levied and paid by a political subdivision or contributed, levied or paid to the […]
28-7692. Transportation project advancement notes; pledge of excise taxes A. A regional planning agency, metropolitan planning organization or council of governments or a designated grant recipient may enter into a transportation project advance agreement with each other, a political subdivision, the department or a regional public transportation authority established pursuant to section 48-5102. A political […]
28-7693. Limitations The aggregate outstanding principal amount of transportation project advancement notes issued by a political subdivision and secured by transportation project advance revenues shall not be more than the aggregate of all uncollected transportation project advance revenues to be received by the political subdivision under transportation project advance agreements unless the political subdivision has […]
28-7694. Application of revenues; transportation project advancement notes; payment of notes After issuance of transportation project advancement notes, the revenues the political subdivision receives under the applicable transportation project advance agreement shall be used as set forth in the agreement, including the payment when due or on redemption in advance of maturity, of all principal, […]
28-7695. Use of proceeds A political subdivision shall use the proceeds from the sale of transportation project advancement notes for payment of any of the following: 1. Advances for a transportation project included in the state’s transportation improvement program or a regional transportation plan, as defined in section 28-6351, under the transportation project advance agreement […]
28-7696. Refunding A political subdivision may issue transportation project advancement notes to refund transportation project advancement notes previously issued and other obligations if the proceeds of the previously issued transportation project advancement notes and other obligations are applied to the financing of the advance that relates to the transportation project advance agreement.
28-7697. Nature of transportation project advancement notes; limited obligation A. Transportation project advancement notes issued pursuant to this article are not general obligations of a political subdivision, any public officer or employee of a political subdivision or this state. B. Transportation project advancement notes are limited obligations of the issuer of the notes and are […]
