§ 24-115-115 — Annual reports

(1) No later than January 15 of any year in which
notes issued pursuant to this article are outstanding or any moneys are in the
critical needs fund, each issuing authority shall submit a report to the members of
the joint budget committee of the general assembly and the members of the
legislative audit committee of the general assembly that includes, at a minimum,
the following information:

(a) The total amount of notes issued by the issuing authority pursuant to this
article;

(b) The total and itemized amounts of gross note proceeds received from the
issuance of notes, note proceeds and earnings thereon expended, and moneys
credited to the critical needs fund; and

(c) The total amount of moneys expended from the critical needs fund in
each state fiscal year for the payment of notes issued by the issuing authority
pursuant to this article, the costs to the issuing authority associated with the
issuance and administration of the notes, the payment of principal and interest in
connection with a borrowing pursuant to section 24-115-107 (1)(f) or note
anticipation notes issued pursuant to section 24-115-107 (1)(g), to pay necessary
expenses of the board as authorized by section 24-115-106 (3).

Legislative History

Source: L. 2005: Entire article added, p. 755, � 1, effective June 1.