LD 1625
pg. 6
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LR 2152
Item 1

 
I.__Providing for guarantees, letters of credit, lines of
credit, insurance policies, surety bonds, purchase
agreements or similar instruments or other security for the
benefit of the bondholders;

 
J.__Providing for interest rate or exchange agreements; and

 
K.__Any other matter relating to the bonds that the
authority determines appropriate.

 
2.__Credit not pledged.__Bonds issued under this chapter do
not constitute or create any debt or liability on behalf of the
State, of any political subdivision of the State or the
authority, a loan of the credit of the State or a pledge of the
faith and credit of the State, of any political subdivision of
the State or the authority, but are payable solely from the funds
provided for the payment of those bonds.__All the bonds issued
under this chapter must contain a statement to the effect that
the State, any political subdivision of the State or the
authority is not obligated to pay the bonds or the interest on
the bonds, except from funds provided for the payment of those
bonds pursuant to one or more agreements, and that neither the
faith and credit nor the taxing power of the State or of any
political subdivision of the State is pledged to the payment of
the principal of, premium, if any, or the interest on such bonds.__
The issuance of bonds under this chapter does not directly or
indirectly or contingently obligate the State or any political
subdivision of the State to levy or to pledge any form of
taxation whatever or to make any appropriation for the bonds'
payment.

 
3.__Liability of members.__A member or employee of the
authority or any person executing the bonds may not be held
liable personally on the bonds or subject to any personal
liability by reason of the issuance of the bonds.

 
4.__Interest rate exchange agreements.__In connection with, or
incidental to, the issuance or carrying of bonds issued under
this chapter or carrying of any investment, the authority may
enter into agreements with financial institutions or credit
unions that the authority determines to be necessary or
appropriate to place the obligation or investment of the
authority, in whole or in part, on the interest rate, cash flow
or other basis as determined by the authority.

 
5.__ Purchasing, refunding or refinancing by authority.__The
authority may purchase its bonds out of any available funds and
may hold, pledge, cancel or resell the bonds subject to and in
accordance with agreements with bondholders.__The authority may
refund or refinance any of its bonds.


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