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.

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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