To promote the education and welfare of the people of the Commonwealth of Pennsylvania; to provide educational facilities at nonprofit institutions of higher education in the Commonwealth of Pennsylvania; to provide short-term loans for working capital; and creating the Pennsylvania Higher Educational Facilities Authority as a body corporate and politic with power to acquire, construct, improve, equip, furnish, operate, lease, and dispose of projects and provide short-term loans; authorizing and regulating the issuance of notes and bonds and the payment thereof by said authority; and providing that no debt, obligation, or credit of the Commonwealth shall be incurred in the exercise of any powers granted by this act. (Title amended Oct. 12, 1984, P.L.948, No.185)
The Higher Education Facilities Authority has 6 seats | 5 year terms.
The current vacancy will be to fill the remainder of a term. It will be for 3 years.