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Current as of January 01, 2022 | Updated by FindLaw Staff
In addition to the powers enumerated in § 35-12-5, the corporation shall have power to:
(1) Purchase accounts from the university for such consideration and upon such terms and conditions as the corporation shall determine;
(2) Pledge purchased accounts as security for any borrowings undertaken by the corporation or sell the accounts for such consideration and on such terms and conditions as the corporation shall determine;
(3) Borrow money and issue notes and provide for the rights of the holders thereof, and secure the notes by assignment, pledge, or granting of a security interest in accounts, including without limitation, all or a part of its interest in accounts for the purpose of providing funds to effectuate its purposes under this chapter; and
(4) Create and establish such other fund or funds as may be necessary or desirable for its corporate purposes.
Cite this article: FindLaw.com - Rhode Island General Laws Title 35. Public Finance § 35-12-6. Additional powers - last updated January 01, 2022 | https://codes.findlaw.com/ri/title-35-public-finance/ri-gen-laws-sect-35-12-6/
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