§ 42-116-11 - Payment of state funds – Agreement between corporation and department.
SECTION 42-116-11
§ 42-116-11 Payment of state funds –Agreement between corporation and department. – (a) Subject to the provisions of subsection (b), upon the written request ofthe corporation, the general treasurer of the state shall pay to thecorporation from time to time the proceeds of any bonds or notes issued by thestate for the purposes of this chapter, any appropriations of the state madefor the benefit of the corporation, or any other funds lawfully payable by thestate to the corporation, or any revenues dedicated to corporate purposes.
(b) The executive director of the corporation, with theapproval of the board and the governor on behalf of the state, may enter into,execute, and deliver one or more agreements with the corporation setting forthor otherwise determining the terms, conditions and procedures for, and theamount, time, and manner of payment of, all amounts available from the state tothe corporation under this section. The agreement or agreements may include anycovenants and undertakings of the state and the corporation that the governorand the corporation deem reasonable.