§ 18-115. Revenue bonds -- Probable useful life of project

Latest version.

(a) Projects having different probable useful lives. -- If bonds are issued for projects having different probable useful lives, the authority shall consider the amount of the bonds to be issued for each project when it determines the average probable useful life of the projects.

(b) Determination by authority conclusive. -- The determination under this section by an authority of probable useful life of the project or average probable useful life of the projects is conclusive.

HISTORY: An. Code 1957, art. 41, § 14-309(b)(1); 2013, ch. 119, § 2.

                    
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