Sec 28-7693. Limitations

Latest version.

The aggregate outstanding principal amount of transportation project advancement notes issued by a political subdivision and secured by transportation project advance revenues shall not be more than the aggregate of all uncollected transportation project advance revenues to be received by the political subdivision under transportation project advance agreements unless the political subdivision has pledged other monies lawfully available for application to that purpose to cover any amount in excess of the uncollected transportation project advance revenues.

                    
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