"Qualified borrower." A person that meets qualification
criteria set by the department.
"Qualified project." A project which meets qualification
criteria set by the department for aviation infrastructure,
highway and bridge infrastructure, rail freight infrastructure
and transit infrastructure.
"Rail freight infrastructure." The term includes, but is not
limited to, ties, rails and ballast which may include supporting
infrastructure, rail spur lines to customers, crossings and
other similar structures.
"Transit infrastructure." The term includes, but is not
limited to, capital purchases, buildings and intermodal
facilities relating to transit.
§ 9403. Pennsylvania Infrastructure Bank.
(a) Continuation.--The Pennsylvania Infrastructure Bank is
continued as a program within the department.
(b) Powers of department.--The department may do all of the
following:
(1) make loans to or enter into leases with qualified
borrowers to finance the costs of qualified projects and to
acquire, hold and sell borrower obligations evidencing the
loans;
(2) enter into guaranties relating to qualified projects
secured solely by or purchase insurance or other credit
enhancement through amounts on deposit in the fund;
(3) enter into contracts, arrangements and agreements to
provide assistance to qualified borrowers for qualified
projects through amounts on deposit in the fund. The
department shall determine the form and content of any
borrower obligation, including the terms and rate of interest
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