AI-assisted research summary: The department may take several actions for special facility leases and financing, but some actions require the governor’s approval.
In addition and supplemental to the powers granted to the department by law, the department may: (1) With the approval of the governor, enter into a special facility lease or an amendment or supplement thereto whereby the department agrees to construct, acquire, or remodel and furnish or equip a special facility solely for the use by another person to a special facility lease; (2) With the approval of the governor, issue special facility revenue bonds in principal amounts that may be necessary to yield the amount of the cost of any construction, acquisition, remodeling, furnishing, and equipping of any special facility, including the costs of acquisition of the site thereof; provided that the total principal amount of the special facility revenue bonds which may be issued pursuant to the authorization of this paragraph shall not exceed $200,000,000; provided further that these funds shall not be expended on nonpublic air facilities; (3) With the approval of the governor, issue refunding special facility revenue bonds with which to provide for the payment of outstanding special facility revenue bonds (including any special facility revenue bonds theretofore issued for this purpose) or any part thereof; provided any issuance of refunding special facility revenue bonds shall not reduce the principal amount of the bonds which may be issued as provided in paragraph (2); (4) Perform and carry out the terms and provisions of any special facility lease; (5) Notwithstanding section 103-7 or any other law to the contrary, acquire, construct, or remodel and furnish or equip any special facility, or accept the assignment of any contract therefor entered into by the other person to the special facility lease; (6) Construct any special facility on land owned by the State; provided that no funds derived herein will be expended for land acquisition; and (7) Agree with the other person to the special facility lease whereby any acquisition, construction, remodeling, furnishing, or equipping of the special facility and the expenditure of moneys therefor shall be undertaken or supervised by another person. [L 1971, c 160, pt of §1; am L 1977, c 29, §1; am L 1982, c 146, §1; am L 1991, c 168, §1; am L Sp 1993, c 8, §55; am L 1998, c 284, §1; am L 2004, c 216, §32]