(1) No later than January 15 of any year in which notes issued pursuant to this article are outstanding or any moneys are in the critical needs fund, each issuing authority shall submit a report to the members of the joint budget committee of the general assembly and the members of the legislative audit committee of the general assembly that includes, at a minimum, the following information:
(a) The total amount of notes issued by the issuing authority pursuant to this article;
(b) The total and itemized amounts of gross note proceeds received from the issuance of notes, note proceeds and earnings thereon expended, and moneys credited to the critical needs fund; and
(c) The total amount of moneys expended from the critical needs fund in each state fiscal year for the payment of notes issued by the issuing authority pursuant to this article, the costs to the issuing authority associated with the issuance and administration of the notes, the payment of principal and interest in connection with a borrowing pursuant to section 24-115-107 (1)(f) or note anticipation notes issued pursuant to section 24-115-107 (1)(g), to pay necessary expenses of the board as authorized by section 24-115-106 (3).
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