The amount of grant anticipation notes secured by grant revenues issued by the director shall not exceed the aggregate of all uncollected grant revenues to be received by the board.

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Terms Used In Arizona Laws 28-7614

  • Board: means the transportation board. See Arizona Laws 28-101
  • Director: means the director of the department of transportation. See Arizona Laws 28-101
  • Grant anticipation notes: means notes authorized by this article. See Arizona Laws 28-7611
  • Grant revenues: means any revenues the director will receive under a grant agreement, proceeds of grant anticipation notes and income and gain from the investment of these revenues and proceeds. See Arizona Laws 28-7611
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