Section 12. To provide for the expenses of HEFA and for the payment of indebtedness incurred by it in connection with any project financed by HEFA on behalf of any community college or any community college affiliate, or in connection with any transfer for such purpose by HEFA, or the commonwealth acting through the council under the provisions of section eleven, or any other community college affiliate to HEFA, or the commonwealth acting through the council, or any other community college affiliate of buildings or other property, the council may, in the name and on behalf of the commonwealth, (i) transfer or pledge that they will periodically transfer to HEFA, or to any community college affiliate under terms permitting further transfer or pledge to HEFA, any part or all of any funds held as trust funds for any community college under the provisions of paragraph (d) of section eleven, administered on behalf of any community college as gifts, grants, or trusts under the provisions of clause (e) of section twenty-two, made available for expenditure on behalf of any community college pursuant to an appropriation or other spending authorization in the commonwealth's annual operating budget, including supplementary and deficiency budgets, or otherwise available for expenditure by the council, and (ii) may contract with HEFA or any community college affiliate with respect thereto under terms permitting further transfer or pledge by HEFA to a trustee under any trust agreement related to such project and entered into by HEFA pursuant to chapter six hundred and fourteen of the acts of nineteen hundred and sixty-eight; provided, that in the case of any funds expected to be available for expenditure by the council pursuant to subsequent appropriation or other spending authorization by the legislature, the council may only pledge that they will so transfer such funds subject to such subsequent appropriation or other spending authorization. The council may impose such terms and conditions as to the application of the funds so transferred as it deems appropriate for the carrying out of the provisions of said chapter six hundred and fourteen and of this chapter. Any such pledge shall be valid and binding from the time when the pledge is made; the funds so pledged shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the council, any community college, or any other community college affiliate, irrespective of whether such parties have notice thereof. Neither the resolution nor any trust agreement by which such a pledge is created need be filed or recorded except in the records of HEFA.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title II - Executive and Administrative Officers of the Commonwealth
Chapter 15a - Public Education
Section 3a - Statewide Educational Technology Plan; Goals; Development and Implementation
Section 4 - Board of Higher Education; Membership
Section 5 - Public Institutions of Higher Education System
Section 5a - Governor Foster Furcolo Community Colleges
Section 7 - Mission Statements; Development, Approval and Adoption
Section 7a - Board of Higher Education; Performance Measurement System
Section 9 - Powers and Duties of Council
Section 9a - American Sign Language
Section 9b - Needs-Based Financial Assistance Program; Scholarships; Guidelines
Section 13 - Hefa; Sale or Lease of Buildings, Lands or Other Property; Proceeds
Section 15c - Expenditures and Revenues; Management and Accounting Reporting System
Section 15d - Personnel Administrative Reporting and Information System
Section 15f - Community College Workforce Training Incentive Program
Section 15g - Stackable Credentials
Section 16 - Scholarship Programs; Guidelines
Section 17 - Teaching Learning Corps Program
Section 19 - Tuition and Fee Waiver Program; Guidelines; Annual Report
Section 19a - Student Loan Repayment Program; Guidelines; Expenses for Administration
Section 19b - Teacher Signing Bonus Program; Regulations
Section 19c - Master Teacher Corps Program; Regulations
Section 19d - Scholarship Program Known as Tomorrow's Teachers Program; Guidelines
Section 19e - Principal and Superintendent Recruitment Program
Section 20 - Educational Opportunities Information Center
Section 22 - Board of Trustees of Community Colleges or State Universities; Powers and Duties
Section 22a - Reggie Lewis Track and Athletic Center; Establishment; Powers and Duties of Board
Section 23 - Board of Trustees; Estimate for Institution's Ordinary Maintenance and Revenues
Section 24 - Board of Trustees; Authorized Purchases
Section 24a - Cooperative Purchasing; Massachusetts Higher Education Consortium
Section 25 - Refusal to Elect and Contract With Blind Teaching Candidates
Section 26 - Summer Sessions; Evening Classes
Section 27 - Dormitories; Nonsmoking Rooms; Rules and Regulations
Section 29 - Definitions; Use of Student Fee Funds for Legislative Agents' Costs
Section 31 - Administrative Expenses; Determination of Qualifying Expenditures
Section 32 - Student Assessment System
Section 33 - Report Assessing Overall Faculty Productivity and Teacher Effectiveness
Section 34 - Benchmark Study of Public Higher Education System
Section 35 - Professional Development Schools Grant Program
Section 38 - Military Recruiters; On-Campus Recruiting
Section 39 - Secondary Education Students Qualified to Enroll in Higher Education Institutions
Section 40 - Optional Retirement System; Providers; Regulations; Participation; Funds
Section 41 - Fees for Approval of Articles or Certificates; Revenue
Section 45 - Establishment and Implementation of Comprehensive Training Program