[§201H-74]  Bonds; interest rate, price, andsale.  (a)  The bonds shall bear interest at rates payable at times thatthe corporation, with the approval of the governor, may determine except fordeeply discounted bonds that are subject to redemption or retirement at theiraccreted value; provided that the discounted value of the bonds shall notexceed ten per cent of any issue; and provided further that no bonds may beissued without the approval of the director of finance and the governor. Notwithstanding any other law to the contrary, the corporation, subject to theapproval of the director of finance and the governor, may issue bonds pursuantto section 201H‑72, in which the discounted value of the bonds exceedsten per cent of the issue.

(b)  The corporation may include the costs ofundertaking and maintaining any housing project or projects or loan program forwhich the bonds are issued in determining the principal amount of bonds to beissued.  In determining the costs of undertaking and maintaining the housingprojects, the corporation may include the cost of studies and surveys;insurance premiums; underwriting fees; financial consultant, legal, accounting,and other services incurred; reserve account, trustee, custodian, and ratingagency fees; and interest on the bonds for a period determined by thecorporation, or the estimated expenditure of borrowed funds for any loanprogram for which the bonds are issued. [L 2006, c 180, pt of §4]