Chapter 350A Purchase of Municipal and Revenue Securities by State

Legislative findings.

Definitions.

“Allocable local revenues” defined.

“Board” defined.

“Cost of a lending project” defined.

“Expense of operation and maintenance” defined.

“Flood management authority” defined.

“Lending project” defined.

“Municipal securities” defined.

“Municipality” defined.

“Purpose related to natural resources” defined.

“Revenue securities” defined.

“Revenues of a lending project” defined.

“State securities” defined.

“Tax” defined.

“Wastewater authority” defined.

Loans to municipalities by state purchase of municipal securities authorized.

Powers of State Treasurer as Administrator of Municipal Bond Bank.

Limitations and conditions on issuance of certain state securities; applicability of State Securities Law.

Conditions upon issuance of state securities to acquire bonds issued by certain water authorities; acquisition of bonds of certain water authorities does not constitute indebtedness of members; property tax levied by member to pay member’s share of payments due on bonds.

Limitations and conditions upon issuance of state securities to acquire revenue securities; exceptions.

Revenue security pledged by allocable local revenues not debt of State.

Issuance of state securities to refund state securities.

Judicial confirmation of exemption of specific obligation from State’s debt limit required; legislative declaration.

State securities: Interest; discount.

Private sale of municipal or revenue securities to State; fees and charges.

Fund for the Municipal Bond Bank: Creation; disposition of revenue.

Powers additional; applicable procedures for issuing securities; issuance of securities by municipality not authorized.

Liberal construction.