§ 63B-34-202 — Revenue bond authorizations -- State Building Ownership Authority.

The Legislature intends that:
(1) the State Building Ownership Authority, under the authority of Title 63B, Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or may enter into or arrange for a lease-purchase agreement in which participation interests may be created, to provide up to $85,000,000 for a warehouse facility and club store, together with additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund any existing debt service reserve requirements;
(2) the Department of Alcoholic Beverage Services use sales revenues as the primary revenue source for repayment of any obligation created under authority of this section;
(3) the Department of Alcoholic Beverage Services may request operation and maintenance funding from sales revenues; and
(4) before the State Building Ownership Authority takes any action under this section, the Department of Alcoholic Beverage Services, the Division of Facilities and Construction Management, and the state treasurer jointly provide to the Executive Appropriations Committee and the Governor's Office of Planning and Budget a report that describes the plans related to the potential action, including facility specifications, construction cost, operations and maintenance projections, and expected terms of finance.