49-39-6.2. Enhancement of security for variable rate obligations--Credit agreements--Payment of costs. The board of directors of the district may enter into credit agreements in conjunction with the issuance, payment, sale, resale, or exchange of obligations to enhance the security for or provide for the payment, redemption, or remarketing of the variable rate obligations and interest on the obligations or to reduce the interest payable on the obligations. The cost to the issuer of the credit agreement may be paid from the proceeds of the sale of the obligations to which the credit agreement relates or from any other source, including revenues of the district that are available for the purpose of paying the obligations and the interest on the obligations or that may otherwise be legally available to make those payments.
Source: SL 1989, ch 403, § 29.
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