§ 20-48-503 — Authority to issue revenue bonds and use available funds and revenues

(a) The Board of Developmental Disabilities Services is authorized to use any available revenues for the accomplishment of the purposes specified and referred to in § 20-48-502 and is authorized to issue revenue bonds and to use the proceeds thereof for the accomplishment of the purposes, either alone or together with other available funds and revenues. (b) The amount of bonds issued shall be sufficient to pay all costs and sums required and necessarily incidental to the accomplishment of the specified purposes, all costs incurred in connection with the issuance of the bonds, the amount necessary to cover debt service on the bonds until revenues are available in a sufficient amount therefor, and the amount necessary for a debt service reserve, if deemed desirable.

Legislative History

Acts 1963, No. 186, § 2; A.S.A. 1947, § 59-1118.