§ 43.340.040. Financing powers
In addition to other powers and duties prescribed in this chapter, the authority is empowered to:
(1) Establish a stable source of revenue to be used for the purposes designated in this chapter;
(2) Enter into sales agreements with the state for purchase of a portion of the amounts otherwise due to the state under the master settlement agreement, and of the state's rights to receive such amounts;
(3) Issue bonds, the interest and gain on which may or may not be exempt from general federal income taxation, in one or more series, and to refund or refinance its debt and obligations;
(4) Sell, pledge, or assign, as security, all or a portion of the revenues derived by the authority under any sales agreement, to provide for and secure the issuance of its bonds;
(5) Provide for the investment of any funds, including funds held in reserve, not required for immediate disbursement, and provide for the selection of investments;
(6) Manage its funds, obligations, and investments as necessary and as consistent with its purpose; and
(7) Implement the purposes of this chapter.
[2002 c 365 § 5.]
Sections: Previous 43.340.005 43.340.010 43.340.020 43.340.030 43.340.040 43.340.050 43.340.060 43.340.070 43.340.080 43.340.090 43.340.100 43.340.110 43.340.120 43.340.130 43.340.900 NextLast modified: April 7, 2009