HOUSE DOCKET, NO. 1563 FILED ON: 1/13/2009
HOUSE . . . . . . . . . . . . . . . No. 3567
The Commonwealth of Massachusetts
In the Year Two Thousand Nine
AN ACT RELATIVE TO THE HEFA LOAN POOL..
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Section 2 of chapter 267 of the acts of 1995 is hereby amended by inserting after item 7118-0961 the following item: -
State and Community College Systems
7118-0962 For the purchase, leasing and acquisition of telecommunications, electronic, computer, office and classroom equipment and administrative systems and the maintenance and renovation costs related to the foregoing; and for capital expenditures for repair, renovation and adaptation of physical assets; provided that the State Colleges and the Community Colleges may borrow, in the aggregate, $40,500,000 through the Massachusetts Health and Educational Facilities Authority for this purpose; and provided further that the maximum borrowing of an individual state college shall be $2,000,000 and the maximum borrowing of an individual community college shall be $1,500,000; and provided further that the borrowing through the Massachusetts Health and Educational Facilities Authority may be structured as a revolving loan program with the maximum principal amount of the loans from such program outstanding at any time not to exceed $40,500,000.