An aviation hangar revolving loan fund is established in the office of the treasurer of state under the control of the state department of transportation. Moneys in the fund are appropriated for the purposes set forth in this section. Moneys in the fund shall be expended for loans to provide assistance for the design, construction, or improvement of hangars at general aviation airports in the state. The department shall adopt rules to administer a program for the granting and administration of loans under this section. The department may enter into agreements with general aviation airports for carrying out the purposes of this section. Moneys received as loan repayments shall be credited to the aviation hangar revolving loan fund. Notwithstanding section 8.33, moneys in the aviation hangar revolving loan fund shall not revert to any other fund but shall remain available indefinitely for expenditure under this section.
2000 Acts, ch 1225, §35, 39
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