§ 28B.07.070. Agreements with participant -- Participant's payment of certain costs and expenses
In connection with any bonds issued by the authority, the authority shall enter into agreements with participants which shall provide for the payment by each participant of amounts which shall be sufficient, together with other revenues available to the authority, if any, to: (1) Pay the participant's share of the administrative costs and expenses of the authority; (2) pay the costs of maintaining, managing, and operating the project or projects financed by the authority, to the extent that the payment of the costs has not otherwise been adequately provided for; (3) pay the principal of, premium, if any, and interest on outstanding bonds of the authority issued in respect of such project or projects as the same shall become due and payable; and (4) create and maintain reserves required or provided for in any bond resolution or trust indenture authorizing the issuance of such bonds of the authority. The payments shall not be subject to supervision or regulation by any department, committee, board, body, bureau, or agency of the state other than the authority.
[1983 c 169 § 7.]
Sections: Previous 28B.07.010 28B.07.020 28B.07.021 28B.07.030 28B.07.040 28B.07.050 28B.07.060 28B.07.070 28B.07.080 28B.07.090 28B.07.100 28B.07.110 28B.07.120 28B.07.130 28B.07.300 NextLast modified: April 7, 2009