C.__Notes in anticipation of the receipt of federal or state |
grants or other aid.__The issuance of these notes is |
governed by the applicable provisions of this chapter |
relating to the issuance of bonds, as long as notes in |
anticipation of revenue mature no later than one year from |
those notes' respective dates of issuance.__Notes issued in |
anticipation of federal or state grants or other aid and |
renewals of grants or aid must mature no later than the |
expected date, as determined by the board of directors, of |
receipt of those grants or aid. The board of directors may |
adjust the maturity date of notes issued in anticipation of |
federal or state grants or other aid to reflect changes in |
the expected date of receipt.__Notes in anticipation of |
revenue issued to mature less than one year from dates of |
issuance of the notes may be renewed from time to time by |
the issuance of other notes, except that the period from the |
date of an original note to the maturity of any note issued |
to renew or pay the original note or the interest on the |
original note may not exceed one year. |