Sec. 1. The general purposes of this chapter are the following:
(1) To provide financing for educational facility projects.
(2) To provide a measure of assistance and an alternative method to enable nonprofit colleges or universities in Indiana to refund or refinance outstanding indebtedness incurred by nonprofit colleges or universities in Indiana for the renovation, construction, acquisition, or equipping of educational facilities.
(3) To establish liability or other loss insurance reserves or to contribute those insurance reserves or other capital to a risk retention group to provide insurance coverage against liability claims or other losses.
(4) To provide the needed additional educational facilities for the public benefit and good.