HF 1175

SECOND ENGROSSMENT

Aircraft facilities state financing modified to allow flexibility in obtaining a new lessee for a facility, and other statutory provisions modified.

Section 1: "Project" defined.

Section 2: Sale authorization language modified.

Section 3: Loan, lease, and revenue agreements language modified.

Section 4: Security language modified.

Section 5: Use of proceeds; aircraft maintenance facility language modified.

Section 6: General powers language modified.

Section 7: Sources of payment language modified.

Section 8: Funds language modified.

Section 9: Approval language provided.

Section 10: Exempt property used by private entity for profit language modified.

Section 11: Credit for job creation language modified.

Section 12: Aircraft heavy maintenance facility language modified.

Section 13: "Airport" definition modified.

Section 14: Acquisition language modified.

Section 15: Leased property language modified.

Section 16: Revisor's instruction language provided.

Section 17: Repealer provided.

5/19/7