17-5-424. 1985 bonds -- agreement with the department of fish, wildlife, and parks. For the proceeds of bonds or notes authorized and appropriated by House Bill No. 861, Laws of 1985, for the construction or renovation of fish hatcheries operated by the department of fish, wildlife, and parks, the board of examiners and the department of fish, wildlife, and parks may enter into an agreement under the terms of which the department shall pay the state treasurer, for deposit in accordance with 17-2-101 through 17-2-107, as determined by the state treasurer, an amount sufficient to pay the principal and interest as due on the bonds or notes from which the appropriation was made and to accumulate and maintain reserves required under such bonds. The agreement must further provide that income from the investment of bond proceeds and the reserves not required for construction or renovation costs must be credited against the department's payment obligation. The agreement must also allow for the accumulation of reserves during the first year the bonds are outstanding. Payments by the department must be made from funds available therefor.

     History: En. Sec. 9, HB 861, L. 1985.