5-12-47. Revenue obligations--Issuance--Purpose--Funds for payment.
117 words·~1 min read·
/sd/title-5/chapter-5-12/5-12-47·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The authority, with the approval of the Governor, may by resolution provide for the issuance and sale of revenue obligations to finance all or any part of the capital cost of acquiring, constructing, furnishing, equipping, or repairing any state building owned or to be owned by it and for this purpose may exercise all powers conferred upon it by this chapter. Revenue obligations issued pursuant to this section shall be payable solely from moneys, including investment income, derived by the authority from transactions described in §§ 5-12-42 and 5-12-43 , transactions authorized by the Legislature and transactions initiated by resolutions of the authority adopted prior to July 1, 1984.
Such moneys may be pledged for this purpose.