The authority may issue revenue bonds for the purpose of financing or refinancing, in whole or in part, the cost of the following projects:
(a) purchasing real estate;
(b) constructing, reconstructing, or improving roads, bridges, culverts, or other transportation facilities;
(c) constructing, reconstructing, improving, or equipping water distribution systems, sewer treatment and distribution facilities, buildings, or environmental utilities;
(d) constructing, reconstructing, and improving recreational facilities, including but not limited to marinas, docks, swimming pools, parks, dams, ponds, golf courses, racquetball and tennis facilities, and equestrian and archery complexes. In connection with the issuance of bonds, the authority may enter into an agreement with a company to construct, operate, maintain, and improve a project, and the authority may enter into a financing agreement with the company prescribing the terms and conditions of the payments to be made by the company to the authority, or its assignee, to meet the payments that become due on bonds.
HISTORY: 1992 Act No. 515, Section 4, eff July 1, 1992.