28B.14C.020 - Refunding as benefit to state.

Refunding as benefit to state.

The refunding authorized by this chapter is to be carried out primarily for the purpose of releasing for other needs of the state and its agencies the reserves presently required under existing covenants and statutes to secure payment of the various issues of the bonds to be refunded and, as such, is of substantial benefit to the state.

[1977 ex.s. c 354 § 2.]