261A.8 - POWERS OF AUTHORITY.
261A.8 POWERS OF AUTHORITY.
The authority may:
1. Sue and be sued in its own name, plead and be impleaded.
2. Employ consultants, attorneys, accountants, financial experts,
loan processors, bankers, managers, and other employees and agents
necessary in the authority's judgment, and fix their compensation.
3. When refunding obligations are issued to refund obligations,
the proceeds of which were used to make authority loans, reduce the
amount it is owed by the institutions which had received authority
loans from the proceeds of the refunded obligations. The
institutions may use this reduced amount to reduce the amount of
interest being paid on education loans which the institutions had
made pursuant to the authority loans from the proceeds of the
refunded obligations. Section History: Early Form
[82 Acts, ch 1031, § 8]
Referred to in § 261A.24