§39A-192  Department powers as to energy
projects.  In addition to powers that it may now have, the department shall
have all powers necessary or convenient to accomplish the purposes of this
part.  The powers of the department include but are not limited to the
following:



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



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



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



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



(3)  To lend the proceeds of the special purpose
revenue bonds issued for an energy project to the project party for use and
application 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 of
and interest on the special purpose revenue bonds issued for an energy project,
to:



(A)  Pledge, assign, hypothecate, or otherwise
encumber all or any part of the revenues and receipts derived or to be derived
by the department under the project agreement for the energy project for which
the special purpose revenue bonds are issued;



(B)  Pledge and assign the interest and rights of
the department under the project agreement or other agreement with respect to
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 respect
to the energy project; or



(D)  Any combination of the foregoing;



(5)  To extend or renew any project agreement or any
other agreement related thereto; provided that any renewal or extension shall
be subject to the approval of the governor unless made in accordance with
provisions for the extension or renewal contained in a project agreement or
related agreement theretofore approved by the governor; and



(6)  To do any and all things necessary or convenient
to carry out its purposes and exercise the powers given and granted in this
part.



When the department finances an energy project by
the issuance of special purpose revenue bonds as contemplated by this part, the
State shall not exercise the power of eminent domain to acquire an energy
project or any part thereof for lease or transfer to a project party, nor shall
the 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]