HOUSE DOCKET, NO. 1563        FILED ON: 1/13/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3567

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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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.