The legislature, through enactment of this section, authorizes the creation of state debt in an amount not to exceed $50 million in principal amount of general obligation bonds outstanding from time to time for the purpose of:

1. (1) funding the drinking water program; and

2. (2) funding portions of loans on an interim basis pending receipt of:

   1. (a) grant payments from the environmental protection agency for which federal legislation appropriating the proceeds of the grants has been enacted; or
   2. (b) other revenue for the program.

History: En. Sec. 16, Ch. 553, L. 1995; amd. Sec. 4, Ch. 421, L. 1999; amd. Sec. 2, Ch. 18, L. 2003; amd. Sec. 4, Ch. 323, L. 2005; amd. Sec. 3, Ch. 29, L. 2021.