§ 8-6.212. Grant Anticipation Notes.

In anticipation of the revenues derived from the proceeds of any Federal or State grants with respect to the Enterprise or any portion thereof, the City is hereby authorized to issue grant anticipation notes, and to renew the same from time to time, in such series and amounts as are determined by the Council to be necessary or appropriate for the Costs of the Enterprise approved by the Council and reimbursable from such grants. Such notes shall be payable from the revenues derived from the proceeds of such grants or other moneys or assets authorized by this chapter to be pledged to secure payment of Bonds, and which are not otherwise pledged, or from the proceeds or sale of the particular Bonds in anticipation of which they are issued. Such notes shall be issued in the same manner as Bonds.

(Added by Ord. 2290-C.S., § 1, effective 11-1-84)