§39A-192  Department powers as to energyprojects.  In addition to powers that it may now have, the department shallhave all powers necessary or convenient to accomplish the purposes of thispart.  The powers of the department include but are not limited to thefollowing:

(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 an energy project to the project party for use andapplication by the project party for the acquisition, purchase, construction, reconstruction,improvement, betterment, or extension of an energy project;

(4)  As security for the payment of the principal ofand interest on the special purpose revenue bonds issued for an energy project,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 energy project for whichthe special purpose revenue bonds are issued;

(B)  Pledge and assign the interest and rights ofthe department under the project agreement or other agreement with respect tothe 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 energy 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.

When the department finances an energy project bythe issuance of special purpose revenue bonds as contemplated by this part, theState shall not exercise the power of eminent domain to acquire an energyproject or any part thereof for lease or transfer to a project party, nor shallthe State operate a project on behalf of a project party. [L 1981, c 151, pt of§2; am L Sp 1993, c 8, §55; am L 2004, c 216, §12; am L 2006, c 292, §6]