§173A-13 Payment of debt service on the Turtle Bay reimbursable general obligation bonds. Notwithstanding any laws to the contrary:
(1) Beginning July 1, 2015, a nonprofit land conservation organization shall file an application annually with the board requesting $1,500,000 from the land conservation fund to be used for the reimbursement of debt service on the Turtle Bay reimbursable general obligation bonds until the bonds are fully amortized;
(2) The board shall not require the nonprofit land conservation organization that is the recipient of a grant for the payment of debt service on the Turtle Bay reimbursable general obligation bonds to provide any additional matching funds; and
(3) Moneys awarded for the payment of debt service on the Turtle Bay reimbursable general obligation bonds shall be deposited into the Turtle Bay conservation easement special fund. [L 2015, c 121, §3]
Cross References
Turtle Bay reimbursable general obligation bonds, see §171-171.
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