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HB 2679 seeks to amend the definition of a "credit agreement" in relation to the powers of a public facility corporation to include an interest rate or commodities price swap agreement, cap or collar agreement, protection or management agreement.
HB 2679 would also add to the powers of a public facility corporation to include the authority to grant a mortgage, make a credit agreement, and exercise any powers that a nonprofit corporation may exercise, to the extent necessary or convenient to accomplish the purpose of the corporation.
Under this bill the lessee power of the corporation includes
the authority to grant a leasehold or other possessory interest in a
public facility owned by the corporation
HB 2679 would make mostly clerical updates to modernize the statute related to public facility corporations. We are neutral on this bill.