Title 50, Chapter 26, Section 18
( 50-26-18)
Without limiting the generality of the findings and intent of the
General Assembly or any provision of this chapter, the authority
shall facilitate economic development for enterprises throughout the
state by means that shall include, without limitation, the issuance
of bonds, with or without such credit enhancement as the authority
may deem appropriate; the collection of and accumulation of fees and
other revenues; the establishment of debt service reserves and
sinking funds; and the use of the proceeds from such bonds, funds,
and reserves to make loans to enterprises, either directly to such
enterprises or indirectly through a financial institution, a
political subdivision, or otherwise; to acquire loans made by others
to such enterprises; to establish revolving or other funds from
which short-term or long-term loans can be made to such businesses;
to guarantee the payment of loans or other obligations of such
enterprises; and to do all things deemed by the authority to be
necessary, convenient, and desirable for and incident to the
efficient and proper development and operation of such types of
undertakings. |