Section 9. Powers and duties of board.
(a) General rule.--By March 31, 2009, the board shall implement and administer the proceeds of the bond under section 8 in conformity with the provisions of section 10 of the act of March 1, 1988 (P.L.82, No.16), known as the Pennsylvania Infrastructure Investment Authority Act.
(b) Specific powers of board.--In addition to any powers under subsection (a), the board shall have the power to:
(1) Develop forms for the applications of grants and
loans.
(2) Promulgate regulations to implement the provisions
of this act.
(3) Provide for the implementation of a commercial paper
program and the issuance of bonds, notes or other obligations
in groups or individually in a manner consistent with the
requirements of section 7 of the Pennsylvania Infrastructure
Investment Authority Act. Bonds issued under the program
established under this paragraph shall not be required to be
sold at public sale.
(4) Take all other actions necessary to implement and
administer the provisions of this act.