§39A‑152  Department powers as toindustrial enterprises.  In addition to powers that it may now have, thedepartment shall have all powers necessary or convenient to accomplish thepurposes of this part.  The powers of the department include but are not limitedto the following:

(1)  Notwithstanding and without compliance withsection 103‑7 and chapter 103D, but with the approval of the governor,to:

(A)  Enter into and carry out a projectagreement, or an amendment or supplement to an existing project agreement, witha project party; and

(B)  Enter into and carry out any agreement,whereby the obligation of a project party under a project agreement will beunconditionally guaranteed by a person other than a project party;

(2)  To issue special purpose revenue bonds pursuantto and in accordance with this part;

(3)  To lend the proceeds of the special purposerevenue bonds issued for a project to the project party for use and applicationby the project party for the acquisition, purchase, construction, reconstruction,improvement, betterment, extension, or maintenance of a project;

(4)  As security for the payment of the principal,premium, if any, and interest of the special purpose revenue bonds issued for aproject, to:

(A)  Pledge, assign, hypothecate, or otherwiseencumber all or any part of the revenues and receipts derived or to be derivedby the department under the project agreement for the project for which thespecial purpose revenue bonds are issued;

(B)  Pledge and assign the interest and rightsof the department under the project agreement or other agreement with respectto the project or the special purpose revenue bonds;

(C)  Pledge and assign any bond, debenture,note, or other evidence of indebtedness received by the department with respectto the project; or

(D)  Any combination of the foregoing;

(5)  To extend or renew any project agreement or anyother agreement related thereto; provided that any renewal or extension shallbe subject to the approval of the governor unless made in accordance withprovisions for the extension or renewal contained in a project agreement orrelated agreement theretofore approved by the governor; and

(6)  To do any and all things necessary or convenientto carry out its purposes and exercise the powers given and granted in thispart. [L 1981, c 122, pt of §2; am L Sp 1993, c 8, §55; am L 2004, c 216, §11;am L 2006, c 292, §5]