Specific Authorization for Issuance of Bonds

(a) For the purpose of providing money to be used for the cost of the acquisition, purchase, construction, reconstruction, improvement, betterment or extension of the airports, the Board is authorized to issue and sell general revenue and special revenue bonds as hereinafter provided. The principal of and interest on the bonds shall be paid out of and secured by the revenue derived from the ownership, lease, use and operation of the airports and of all the facilities thereof as to the general revenue bonds, and from the sources specified in the bond resolution as to the special revenue bonds. (b) The Board, in determining the foregoing cost, may include all costs and estimated costs of the issuance and sale of the bonds, all engineering, inspection, fiscal and legal expenses and interest which it is estimated will accrue during the construction period and for six (6) months thereafter on the bonds. SOURCE: GC § 62103, as reenacted by P.L. 16-093 (June 15, 1982). 2024 NOTE: Subsection designations added pursuant to authority granted by 1 GCA § 1606.