### Question
What does designated bonding authority mean?


### Answer
**Designated bonding authority** has the following meaning in *20 U.S.C. § 1132c*:

> the private, for-profit corporation selected by the Secretary pursuant to section 1132c–4(1) of this title for the purpose of issuing taxable construction bonds in furtherance of the purposes of this part

#### Citation:
  - *20 U.S.C. § 1132c*
  - Heading: **CHAPTER 28-HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE > SUBCHAPTER VII-CONSTRUCTION, RECONSTRUCTION, AND RENOVATION OF ACADEMIC FACILITIES > Part B-Historically Black College and University Capital Financing**

