As Amended
SEC. 37-101-403. Resolution for issuance of bonds; Issuance of bonds.
Upon the adoption of a resolution by the board declaring the necessity for the issuance of any general obligation bonds or notes, the board shall deliver a certified copy of its resolution or resolutions to the State Bond Commission. Attached to the resolutions shall be a detailed statement concerning the projected funds available for the payment of the principal of and interest on such bonds based on a proposed payment schedule and based on current appropriations available to apply to the purchase or lease of such equipment. Upon determination that the funds available, provided future appropriations for such purposes are not diminished, shall be sufficient to pay the principal of and interest on such indebtedness, the State Bond Commission shall proceed to issue such bonds herein provided.
SOURCES: Laws, 1989, ch. 498, Sec. 2, eff from and after passage (approved April 4, 1989).