Section 195-D:7 Title to Projects.
When the principal of and interest on revenue bonds of the corporation issued to finance the construction and acquisition of a particular project or projects at a participating institution, including any revenue refunding bonds issued to refund and refinance such revenue bonds, have been fully paid and retired or when adequate provision has been made to fully pay and retire the same, and all other conditions of the resolution or trust agreement authorizing and securing the same have been satisfied and the lien of such resolution or trust agreement has been released in accordance with the provisions thereof, the corporation shall promptly do such things and execute such deeds and conveyances as are necessary and required to convey title to such project or projects to such participating institution, free and clear of all liens and encumbrances, all to the extent that title to such project or projects is not, at the time, then vested in such participating institution.
Source. 1969, 318:1. 1970, 16:18. 1991, 298:5, eff. Aug. 19, 1991.