| 1.__Issuance; purpose; payment; authorization; interim |
| receipts or certificates.__The authority may issue bonds for the |
| purposes of this chapter, including, except as otherwise provided |
| by section 11493, subsection 2, financing eligible loans, which |
| may include consolidation loans funding the payment of eligible |
| loans to borrowers of eligible loans financed by the authority, |
| financing loans to eligible lenders to fund the origination of |
| eligible loans and acquiring existing portfolios of eligible |
| loans from eligible lenders.__The bonds of each issue must be |
| authorized by the authority and be payable only from such sources |
| specified in__the agreement with bondholders, which may include, |
| without limitation, payments on or with respect to eligible loans |
| from any source, including sale proceeds; reserves established by |
| the authority for the bonds; payments pursuant to agreements with |
| financial institutions, credit unions, educational institutions |
| or any governmental entity; payments pursuant to interest rate |
| exchange agreements; investment earnings from funds or accounts |
| maintained pursuant to a trust agreement or other document; |
| proceeds of refunding bonds; and other fees, charges or revenues |
| of the authority. |