§ 40-57-07 — Cost of project - How determined

In determining the cost of a project, the governing body may include all costs and estimated
costs of the issuance of the revenue bonds; all engineering, inspection, fiscal, and legal
expenses; any bond reserves and the interest that it is estimated will accrue during the

construction period and for six months thereafter on money borrowed or which it is estimated
will be borrowed under this chapter; and the cost of retiring any existing indebtedness that the
governing body of the municipality determines to be necessary or desirable and in furtherance
of the public health or welfare, regardless of whether the existing indebtedness constitutes all or
a portion of the cost being financed by the issuance of the bonds.