NOTE: §1805 eff. until July 1, 2021. See Acts 2018, No. 569.
§1805. Authorization of grant issuance; resolution
The grant anticipation note or notes shall be issued pursuant to a resolution or ordinance authorizing the issuance thereof adopted by the governing body of the public entity. The issuance of all grant anticipation notes under the provisions of this Chapter shall be approved by the State Bond Commission in writing; however, no such approval shall be given if the grant is for the construction of a facility or work of public improvement unless the contract therefor is in existence. Grant anticipation notes authorized to be issued may be issued from time to time, as provided in such resolution or ordinance. The resolution or ordinance shall set forth the form and the manner of execution of the grant anticipation note or notes and the covenants with respect to the security and payment thereof.
NOTE: §1805 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
§1805. Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.
Added by Acts 1980, No. 257, §1, eff. July 12, 1980; Acts 2018, No. 569, §2, eff. July 1, 2021.
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