| 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. |