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Act 715, HB 671 – An Act, To amend Sections 41-10-541, 41-10-547, 41-10-550, and 41-10-551; to modify existing terms and to add additional terms; to provide for the financing and payment of the costs of certain economic development costs, projects and related expenses; to provide authority for the entering into by the Governor on behalf of the state of an agreement under which the state may agree, in the event moneys are withdrawn during any fiscal year of the State from any reserve fund established by the authority for the payment of debt service on any Authority bonds due to the inadequacy of pledged revenues to timely pay such debt service, to provide funds to the authority not in excess of the amount so withdrawn from whatever source lawfully available to the state for that purpose in order to fully fund such reserve fund; to permit the Authority to transfer all the moneys not needed for payment of debt service on the Authority's bonds or other Authority obligations from the Special Fund created in Sectio

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Vincent
Session2010 Regular Session
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