1. The authority is authorized and empowered directly, or by or through a participating health institution or participating educational institution, as the case may be, acting as an agent of the authority, to acquire by purchase, lease, gift, devise, or otherwise such lands, structures, real or personal property, rights-of-way, franchises, easements, and other interests in lands, including lands lying under water and riparian rights which are located within or without the state, as the authority may deem necessary or convenient for the construction or acquisition or operation of any facility or facilities, but only upon such terms as may be considered by the authority to be reasonable, and to take title thereto in the name of the authority or in the name of the participating health institution or the participating educational institution, as the case may be, as the agent of the authority.

2. Notwithstanding any other provisions of law to the contrary, all partnerships, limited partnerships, joint ventures or other entities or any public association, corporation or institution which is, or is owned or operated by, any political subdivision of the state of Missouri, which constitutes a participating educational institution or a participating health institution pursuant to section 360.015 shall have the power to borrow funds from the authority or otherwise finance through the authority pursuant to sections 360.010 to 360.140, to furnish a security interest in any of their revenues or properties to secure the borrowings, to issue notes or other evidence of indebtedness to evidence thereof upon such terms as such borrowing entity shall determine and to enter into leases, contracts, loan agreements and other instruments with the authority in connection therewith.