8.570. Issuance of bonds by board of public buildings, use of proceeds.
Issuance of bonds by board of public buildings, use of proceeds.
8.570. The board of public buildings may issue bonds payable from notmore than thirty percent of the state's share; provided, and the maximumamount of the state's share sold by the authority pursuant to section 8.535and by the board of public buildings pursuant to this section shallcollectively not exceed thirty percent of the state's share. The proceedsfrom bonds issued by the board of public buildings under this section maybe deposited directly to the general revenue fund or deposited to the"Tobacco Bond Proceeds Fund" hereby created and then transferred to thegeneral revenue fund. Repayment of any bonds issued pursuant to thissection may be made solely from such portion of the state's share, anappropriation specifically authorized for such purpose or from anyappropriation from the state's share for any other purpose.
(L. 2002 S.B. 1191)Effective 6-07-02
*Section terminates upon satisfaction of all outstanding notes and obligations issued pursuant to sections 8.500 to 8.590. See section 8.589.