As Amended
SEC. 29-17-29. Fees to be paid by occupants of bond-financed facilities; bond retirement fund; expenditures reports.
Any state agency, private person or entity after occupation of any improvement constructed, purchased, renovated or repaired, or after acceptance of any improvement or acquisition, made with the proceeds of bonds issued pursuant to this chapter, shall be assessed a fee established by the Department of Finance and Administration in order to reduce the bond retirement payments authorized by this chapter which would otherwise be paid solely from the State General Fund. The fees assessed by the department shall be equivalent to the total of any fees, rents, royalties, remunerations or other financial benefits that any agency, private person or entity receives as a result of the passage of this chapter. The fees assessed by the department pursuant to this section shall be promptly transferred to a special fund hereby created in the State Treasury, held separate and apart from all other funds; and such fees shall be used only for the retirement of the bonds issued under this chapter.
Any state agency, private person or entity after occupation of any improvement constructed, purchased, renovated or repaired, or after acceptance of any improvement or acquisition, made with the proceeds of bonds issued pursuant to this chapter, shall file a report with the Department of Finance and Administration that contains specific expenditures for the identified projects. Such report shall be filed annually until the state agency, private person or entity has expended all funds required for the project as provided by this chapter.
SOURCES: Laws, 1990, ch. 581, Sec. 15, eff from and after passage (approved April 9, 1990).