261A.38 - ISSUANCE OF OBLIGATIONS -- CONDITIONS.
261A.38 ISSUANCE OF OBLIGATIONS -- CONDITIONS.
The authority may issue obligations and make loans to an
institution or another entity if the project is to be leased to an
institution or may issue obligations to finance projects to be leased
by the authority to an institution and refund, refinance, or
reimburse outstanding obligations, indebtedness, mortgages, or
advances, including advances from an endowment or any similar fund,
issued, made, or given by the institution, whether before or after
July 1, 1985, for the cost of a project, when the authority finds
that the financing prescribed in this section is in the public
interest, and either alleviates a financial hardship upon the
institution, results in a lesser cost of education, or enables the
institution to offer greater security for a loan or loans to finance
a new project or projects or to effect savings in interest costs or
more favorable amortization terms. Section History: Recent Form
85 Acts, ch 210, §8; 97 Acts, ch 181, §4; 2000 Acts, ch 1209, §6