Page 670

House Bill No. 5506

Public Act No. 22-118 670 of 739

to fund and refund the same and to provide for the rights of the holders thereof and to secure the same by pledge of assets, revenues, notes and state contract assistance, as provided in section 32-608; (9) [to] To do anything necessary and desirable, including executing reimbursement agreements or similar agreements in connection with credit facilities, including, but not limited to, letters of credit or policies of bond insurance, remarketing agreements and agreements for the purpose of moderating interest rate fluctuations, to render any bonds to be issued pursuant to section 32-607 more marketable; and (10) [to] To engage in and contract for marketing and promotional activities to attract national, regional and local conventions, sporting events, trade shows, exhibitions, banquets and other events to maximize the use of exhibition, sporting and entertainment facilities under the operation or jurisdiction of the authority. (e) (1) The authority may solicit investment funds from corporations and other business entities for a capital city project or any other project undertaken by the authority. Any such investment shall be made on equivalent or substantially similar terms and conditions, as determined by the board of directors of the authority, as the investment made or to be made by the authority for such project. The board of directors may provide that funds invested by a corporation or other business entity pursuant to this subdivision shall take repayment priority over funds invested by the authority. (2) No corporation or other business entity shall be prohibited from investing funds pursuant to this subdivision for any such project by virtue of the fact that a member of the board of directors of the authority is an officer, director, shareholder or employee of such corporation or business entity, provided such member of the board shall abstain from deliberation, action or vote by the authority in specific request to such corporation or business entity.