§ 9204. Executive Director; General Counsel; quorum; power to issue bonds.
§ 9204. Executive Director; General Counsel; quorum; power to issue bonds. (a) (1) The Authority may appoint an Executive Director and a General Counsel, and any other officers, none of whom may be members of the Authority. (2) The Executive Director shall: a. Serve at the pleasure of the Authority; and b. Receive compensation as […]
§ 9131. Power of Board to issue promissory notes or bonds.
§ 9131. Power of Board to issue promissory notes or bonds. (a) The Board may issue promissory notes or bonds payable to the State for the purpose of carrying out any plan or program for the acquisition of lands, acquisition or construction of buildings, improvements to lands or buildings, or acquisition of equipment as may […]
§ 9205. Powers and duties.
§ 9205. Powers and duties. (a) (1) In addition to any other powers granted or duties imposed upon it, the Authority has the powers and duties set forth in this section. (2) The Authority shall adopt any rule or regulation necessary to carry out its powers and duties. (b) The Authority may: (1) Adopt an […]
§ 9132. Faith and credit of the College; exemption of bonds from taxation.
§ 9132. Faith and credit of the College; exemption of bonds from taxation. The faith and credit of the College is expressly pledged for the full and complete payment of the principal of and interest on any promissory notes or bonds authorized to be issued under this chapter. Bonds or notes issued under this chapter […]
§ 9206. Use of refunding bond proceeds.
§ 9206. Use of refunding bond proceeds. (a) Whenever refunding bonds are issued to refund bonds, the proceeds of which were used to make Authority loans, the Authority may reduce the amount it is owed by the institutions which had received Authority loans from the proceeds of the refunded bonds. (b) The institutions may use […]
§ 9133. Validity of bonds; incontestability.
§ 9133. Validity of bonds; incontestability. When any bonds are sold and delivered under this chapter, the certification by the Board that the bonds have been issued in due compliance with this chapter is conclusive upon the College and every person of the right, power, and authority for the issuance of the bonds, the legality […]
§ 9207. Loan funding deposits.
§ 9207. Loan funding deposits. (a) (1) The Authority shall establish guidelines relating to: a. The deposits of certain moneys, endowments or properties by institutions so as to provide reasonable security for education loan funding programs, Authority loans, education loans or for bonds; and b. Guarantees of or contracts to purchase education loans or bonds […]
§ 9134. Procedure governing sale of bonds to State.
§ 9134. Procedure governing sale of bonds to State. The State shall purchase any bonds and/or promissory notes to be issued by the College under the authority contained in this chapter or under any other provision of law of this State at private sale. The State may require that the validity of the bonds be […]
§ 9135. Terms and form of bonds.
§ 9135. Terms and form of bonds. Bonds issued under this chapter must meet all of the following conditions: (1) Be in such denomination, in such form, and bear such rate of interest as determined by the State under § 7506 of Title 29; provided, however, that the Board must be consulted regarding the term […]
§ 9136. Designation, numbering, and date of bonds.
§ 9136. Designation, numbering, and date of bonds. Any bonds issued under this chapter must be designated by the name of the College and the year in which the bonds are issued. The bonds must be numbered consecutively and bear the date approved by the Board. Each of the bonds must be numbered consecutively and […]