CHAPTER 162-I BUSINESS FINANCE AUTHORITY REVENUE BONDS
Section 162-I:9
162-I:9 Approval of Governor and Council. –
I. The authority shall not acquire any interest in a project or an eligible facility or execute any financing or security document or issue any bonds with respect to the project or facility, unless the governor and council have found after a hearing that the proposed financing, operation and use of the project or facility will serve a public use and provide a public benefit and have determined that the authority's financing of the project will be within the policy of, and the authority conferred by, this chapter.
II. Nothing in this section shall prevent the authority from giving preliminary official approval of a proposed project or eligible facility and the financing of the proposed project or eligible facility. The finding and determination by the governor and council may be made upon the written recommendation of the authority supported by any documentation and information which the governor and council may request.