| 7. Borrow money. To borrow money pursuant to this chapter |
and issue evidences of indebtedness to finance the acquisition, |
construction, reconstruction, improvement or equipping of any one |
project, or more than one, or any combination of projects, or to |
refund evidences of indebtedness hereafter issued or to refund |
general obligation debt of the State, or to refund any such |
refunding evidences of indebtedness or for any one, or more than |
one, or all of those purposes, or any combination of those |
purposes, and to provide for the security and payment of those |
evidences of indebtedness and for the rights of the holders of |
them, except that any borrowing pursuant to this chapter, |
exclusive of borrowing to refund evidences of indebtedness, to |
refund general obligation debt of the State, or to fund issuance |
costs or necessary reserves, may not exceed in the aggregate |
principal amount outstanding at any time $170,000,000 |
$220,000,000, and except that no borrowing may be effected |
pursuant to this chapter unless the amount of the borrowing and |
the project or projects are submitted to the legislative Office |
of Fiscal and Program Review for review by the joint standing |
committee of the Legislature having jurisdiction over |
appropriations and financial affairs at least 60 30 days before |
closing on such borrowing for the project or projects is to be |
initiated; |