SEC. 37-151-27. Authorization of State Education Technology bonds.
For the purpose of providing funds to enable the State Board of Education to make allocations to school districts as provided by Section 37-151-23, the State Bond Commission is hereby authorized and empowered to issue State Education Technology bonds under the conditions prescribed in Sections 37-151-27 through 37-151-61. The aggregate principal amount of such bonds outstanding at any one (1) time, after deducting the amount of the sinking fund provided for the retirement of bonds issued for such purposes, shall never exceed the sum of Sixty Million Dollars ($60,000,000.00). Within such limits, however, State Education Technology bonds may be issued from time to time under the conditions prescribed in this article.
SOURCES: Laws, 1994, ch. 581, Sec. 24, eff from and after July 1, 1994