Current with changes from the 2024 Legislative Session
Section 10-125 - Project financing(a) The Corporation may: (1) lend or otherwise make available the proceeds of bonds to a person to finance costs of a project; and(2) enter into financing agreements, mortgages, and other instruments that it determines are necessary or desirable to evidence or secure the loan.(b)(1) The lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the property for consideration that the Corporation establishes, when:(i) the principal of and interest on the bonds that financed the cost of the project are paid; or(ii) provision satisfactory to the Corporation is made for their payment.(2) Consideration required under paragraph (1) of this subsection may be nominal.