BLAIR LEE III, Acting Governor

1969

institutions for higher education and hospitals in the
construction, ACQUISITION, financing and refinancing of
projects, and for this purpose the Authority is authorized
and empowered:

(5) To determine the location and character of
any project to be financed OR REFINANCED under the
provisions of this article, and to construct, reconstruct,
ACQUIRE, maintain, repair, operate, lease, as lessee or
lessor, to regulate, and to enter into contracts for the
management and operation of a project, and to designate a
participating institution for higher education or a
participating hospital, as the case may be, as its agent to
determine the location and character of a project undertaken
by such participating institution for higher education or
participating hospital under the provisions of this article,
and as its agent to construct, reconstruct, ACQUIRE,
maintain, repair, operate, lease, as lessee or lessor, such
project, and regulate the same, and as its agent to enter
into contracts for any or all of such purposes, including
contracts for the management and operation of such project;

(10)    To receive and accept from any public
agency loans or grants for or in aid of the construction OR
ACQUISITION of a project or any portion thereof, and to
receive and accept loans, grants, aid or contributions from
any source of either money, property, labor or other things
of value, to be held, used and applied only for the purpose
for which such loans, grants, aid and contributions are
made, provided that no hospital may use any moneys received
as a result of bonds, notes, or other obligations issued by
the Authority to provide matching funds required for any
State loans or grants available for hospital construction,
expansion, or renovation;

(11)   To mortgage or otherwise pledge or encumber
any project and the site thereof or to accept and hold a
mortgage or other encumbrance on any project and the site
thereof for the benefit of the holders of revenue bonds
issued to finance OR REFINANCE such project;

(12)     To make loans to any participating
institution for higher education or hospital for the
construction OR ACQUISITION of a project in accordance with
an agreement between the Authority and the participating
institution for higher education or hospital; provided that
no such loan shall exceed the total cost of [construction
and equipment of] the project as determined by the
participating institution for higher education or hospital
and approved by the Authority;

(13)  To make loans to a participating institution
for higher education or hospital TO REFINANCE ALL OR ANY
PORTION OF A PROJECT AND to refund outstanding bonds,
mortgages, [or] advances, LOANS, OR OTHER OBLIGATIONS
issued, made or given by such participating institution for
higher education or hospital [for] TO THE AUTHORITY OR TO
ANY OTHER INDIVIDUAL, PARTNERSHIP, CORPORATION, ASSOCIATION,