Bonds or notes to finance working capital, security for--workingcapital defined.
360.107. 1. Notwithstanding any other provision of law tothe contrary, in addition to other powers granted to theauthority by sections 360.010 to 360.140, the authority shallhave the power to issue bonds or notes for the purpose of makingloans to, or purchasing the notes of, any educational institutionor health institution for the purpose of financing workingcapital and all related costs of such financing, including, butnot limited to, all costs, charges, fees and expenses ofunderwriters, advisory lawyers, consultants, accountants and ofthe authority. "Working capital" as used in this section meansmoneys to be used by, or on behalf of, an educational institutionor health institution to pay or prepay maintenance or operationexpenses or any other costs that would be treated as an expenseitem, under generally accepted accounting principles, inconnection with the ownership or operation of an educationalfacility or health facility, including, but not limited to,reserves for maintenance or operation expenses, interest for notto exceed one year on any loan for working capital made pursuantto this part, and reserves for debt service with respect to, andany costs necessary or incidental to, that financing.
2. Bonds or notes issued pursuant to this section may besecured by a pledge of payments made to the authority by theeducational institution or health institution, by the notes ofthe educational institution or health institution, or by apooling of such payments or notes of two or more such entities.In connection with any financing pursuant to the power granted inthis section, the authority shall have all power as set forthelsewhere by sections 360.010 to 360.140.
Bonds or notes to finance working capital, security for--workingcapital defined.
360.107. 1. Notwithstanding any other provision of law tothe contrary, in addition to other powers granted to theauthority by sections 360.010 to 360.140, the authority shallhave the power to issue bonds or notes for the purpose of makingloans to, or purchasing the notes of, any educational institutionor health institution for the purpose of financing workingcapital and all related costs of such financing, including, butnot limited to, all costs, charges, fees and expenses ofunderwriters, advisory lawyers, consultants, accountants and ofthe authority. "Working capital" as used in this section meansmoneys to be used by, or on behalf of, an educational institutionor health institution to pay or prepay maintenance or operationexpenses or any other costs that would be treated as an expenseitem, under generally accepted accounting principles, inconnection with the ownership or operation of an educationalfacility or health facility, including, but not limited to,reserves for maintenance or operation expenses, interest for notto exceed one year on any loan for working capital made pursuantto this part, and reserves for debt service with respect to, andany costs necessary or incidental to, that financing.
2. Bonds or notes issued pursuant to this section may besecured by a pledge of payments made to the authority by theeducational institution or health institution, by the notes ofthe educational institution or health institution, or by apooling of such payments or notes of two or more such entities.In connection with any financing pursuant to the power granted inthis section, the authority shall have all power as set forthelsewhere by sections 360.010 to 360.140.
Bonds or notes to finance working capital, security for--workingcapital defined.
360.107. 1. Notwithstanding any other provision of law tothe contrary, in addition to other powers granted to theauthority by sections 360.010 to 360.140, the authority shallhave the power to issue bonds or notes for the purpose of makingloans to, or purchasing the notes of, any educational institutionor health institution for the purpose of financing workingcapital and all related costs of such financing, including, butnot limited to, all costs, charges, fees and expenses ofunderwriters, advisory lawyers, consultants, accountants and ofthe authority. "Working capital" as used in this section meansmoneys to be used by, or on behalf of, an educational institutionor health institution to pay or prepay maintenance or operationexpenses or any other costs that would be treated as an expenseitem, under generally accepted accounting principles, inconnection with the ownership or operation of an educationalfacility or health facility, including, but not limited to,reserves for maintenance or operation expenses, interest for notto exceed one year on any loan for working capital made pursuantto this part, and reserves for debt service with respect to, andany costs necessary or incidental to, that financing.
2. Bonds or notes issued pursuant to this section may besecured by a pledge of payments made to the authority by theeducational institution or health institution, by the notes ofthe educational institution or health institution, or by apooling of such payments or notes of two or more such entities.In connection with any financing pursuant to the power granted inthis section, the authority shall have all power as set forthelsewhere by sections 360.010 to 360.140.
