Project financing

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    (a)    The Corporation may:

        (1)    lend or otherwise make available the proceeds of bonds to a person to finance costs of a project; and

        (2)    enter into financing agreements, mortgages, and other instruments that it determines are necessary or desirable to evidence or secure the loan.

    (b)    (1)    The lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the property for consideration that the Corporation establishes, when:

            (i)    the principal of and interest on the bonds that financed the cost of the project are paid; or

            (ii)    provision satisfactory to the Corporation is made for their payment.

        (2)    Consideration required under paragraph (1) of this subsection may be nominal.


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