§ 39.84.150. Determination of rent
Before entering into a lease, sale contract, or loan agreement with respect to any industrial development facility, the public corporation shall determine that there are sufficient revenues to pay (1) the principal of and the interest on the revenue bonds proposed to be issued to finance the industrial development facility; (2) the amount necessary to be paid each year into any reserve funds which the public corporation considers advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the industrial development facility; and (3) unless the terms of the lease, sale contract, or loan agreement provide that the lessee or contracting party shall maintain the industrial development facility and carry all proper insurance with respect thereto, the estimated cost of maintaining the industrial development facility in good repair and keeping it properly insured.
[1981 c 300 § 15.]
Sections: Previous 39.84.070 39.84.080 39.84.090 39.84.100 39.84.110 39.84.120 39.84.130 39.84.140 39.84.150 39.84.160 39.84.170 39.84.200 39.84.900 39.84.910 39.84.920 NextLast modified: April 7, 2009