[§163D-11] Revenue bonds; interest rate, price, and sale.

185 words·~1 min read·/hi/163d-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The revenue bonds issued pursuant to this chapter shall bear interest at such rate or rates and shall be payable on such date or dates, as the corporation shall determine.

(b)The corporation shall include the costs of undertaking the project facility for which the revenue bonds are issued in determining the principal amount of revenue bonds to be issued. In determining the cost of undertaking the project facility, the corporation may include:

(1)The cost of constructing, acquiring, remodeling, furnishing, and equipping the project facility, including the acquisition of the site thereof;

(2)The cost of purchasing or funding loans or other agreements entered into for the project facility;

(3)The costs of studies and surveys;

(4)Insurance premiums;

(5)Underwriting fees;

(6)Financial consultant, legal, accounting, and marketing services incurred;

(7)Reserve account, trustee, custodian, and rating agency fees; and

(8)Any capitalized interest.

(c)The revenue bonds may be sold at public or private sale, and for a price as may be determined by the corporation. [L 1994, c 264, pt of §1]