(1) Notwithstanding any other provisions of this article, the authority may not undertake any facility authorized by this article unless, prior to the expenditure of proceeds, the board finds that: (a) Such facility will enable or assist an educational institution or a cultural institution to fulfill its obligation to provide facilities; and(b) In the case of an educational institution, such facility has been reviewed and approved by the commission if such approval is required pursuant to section 23-1-106.L. 81: Entire article added, p. 1107, § 1, effective July 1. L. 84: Entire section amended, p. 637, § 3, effective April 5. L. 89: (1)(a) and (1)(b) amended, p. 991, § 7, effective April 8. L. 98: Entire section amended, p. 606, § 10, effective May 4.