| | |
that indebtedness and any interest accrued or to accrue to the date | | of redemption of the obligations and paying all or any part of the | | cost of selling the securities or acquiring or constructing or | | enabling the acquisition or construction of any additional project, | | projects or part of any project or any improvements, extensions, | | enlargements or additions of any project, projects or part of any | | project.__The issuance of the securities, the maturities and other | | details of the securities, the rights and remedies of the holders | | of the securities and the rights, powers, privileges, duties and | | obligations of the board with respect to the securities are | | governed by this Act. |
|
| | | Securities issued under this Act constitute a proper public | | purpose and those securities, their transfer and the income from | | the securities, including any profits made on the sale of the | | securities, are exempt from taxation within the State. |
|
| | | §6427.__Governmental functions |
|
| | | The carrying out by the board of the powers and duties | | conferred upon it by this Act is considered to be the performance | | of essential functions. |
|
| | | §6428.__Liberal construction |
|
| | | This Act, being necessary for the welfare of the State and its | | inhabitants, must be liberally construed to effect its purposes.__ | | To the extent of any conflict between this Act and any other law, | | this Act must prevail, but the power and authority granted by | | this Act must be considered to be in addition to and not in | | derogation of the power and authority granted by any other law. |
|
| | | §6429.__Securities as legal investment |
|
| | | The securities of the board are legal investments in which | | public officers and public bodies of the State and its political | | subdivisions; municipalities and municipal subdivisions; | | insurance companies and associations and other persons carrying | | on an insurance business; banks, bankers, banking associations, | | trust companies, savings banks and savings associations, | | including savings and loan associations, building and loan | | associations, investment companies and other persons carrying on | | a banking business; administrators, guardians, executors, | | trustees and other fiduciaries; other persons who are or may be | | authorized to invest in bonds or other obligations of the |
|
|
