Bonds - Issuance and Sale

The authority is authorized to sell and issue its bonds in the aggregate principal amount of twenty-four million dollars ($24,000,000) for the purpose of making grants to the twelve regional planning and development commissions, which shall be utilized by the grantees as revolving loan funds. (Act 98-195, p. 338, §7; Act 2007-279, p. 378, §1.)