11-50A-7
Section 11-50A-7 Tax exemptions; payments in lieu of taxes. All bonds, bond anticipation
notes, and notes issued by the authority, the interest thereon, and the income therefrom shall
be forever exempt from all taxation in the state. All income of the authority, all obligations,
lease agreements, and mortgages of the authority, all conveyances by or to the authority,
and all lien notices or other filings with respect to the property of the authority and the
transfer thereof shall be forever exempt from any and all taxation in the state. The purchase,
sale, or use of property by the authority shall be exempt from all sales, use, and license
taxes levied by the state and all political subdivisions of the state. All property of the
authority shall be exempt from ad valorem property taxation. Nevertheless, the authority,
or any agent of the authority designated for the purpose of constructing, maintaining, or
operating any project of the authority, shall pay to any validly constituted...
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11-50A-13
Section 11-50A-13 Immunity from liability; credit not pledged. (a) Neither the members
of the election committee, the members of the board nor any individual executing bonds, bond
anticipation notes or notes on behalf of the authority shall be personally liable thereon
by reason of the issuance thereof. (b) Neither the bonds, bond anticipation notes nor notes
issued under provisions of this chapter nor the instruments evidencing the obligations which
constitute the security therefor shall constitute a debt or a loan or pledge of the full faith
and credit of the state or of any municipality, but all bonds, bond anticipation notes and
notes shall be payable solely from the sources described in Section 11-50A-19 as provided
in the resolutions or trust agreements or indentures authorizing or securing the issuance
and payment of the bonds, bond anticipation notes or notes, as the case may be. The issuance
of bonds, bond anticipation notes or notes shall not obligate the state or any...
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22-34-9
Section 22-34-9 Certificates or notes in anticipation of bonds. In anticipation of the
issuance of bonds, the authority may borrow such sums as may be needed for any of the aforesaid
purposes and to obligate itself by certificate or promissory note, bearing interest at a rate
or rates to be specified by the authority, and maturing within 18 months from the date of
such certificate or promissory note. Such certificates or promissory notes shall be payable
solely from the proceeds of the bonds of the authority and from the funds from which such
bonds are payable. In the event that authority funds are not available for a loan for a project
when application is made, in order to accelerate the completion of any project, the public
body may, with the approval of the authority, obligate such public body to provide local funds
to pay that portion of the cost of the project which the authority will make available by
loan, and the authority shall refund the amount expended on its behalf by such...
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41-10-273
Section 41-10-273 Security for bonds; collection and application of revenues pledged
to payment of bonds; terms of leases of judicial facilities; maintenance and insurance of
judicial facilities; reserve and other funds; rights of holders of bonds upon default. Any
resolution of the board of directors authorizing the issuance of bonds may contain any provision
or agreement customarily contained in instruments securing evidences of indebtedness, including,
without limiting the generality of the foregoing, a pledge, transfer or assignment of any
leases of any judicial facilities out of the revenues from which such bonds are payable and
a pledge of such revenues. Any such resolution may also contain provisions respecting the
collection and application of any revenues pledged to the payment of the authority's bonds,
the terms to be incorporated in lease agreements respecting judicial facilities out of the
revenues from which such bonds are payable, the maintenance of and insurance on such...
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41-10-44.7
Section 41-10-44.7 Proceeds from the sale of project obligations; revenues and other
funds. (a) After making adequate provision for the payment of the expenses of issuance, the
authority is authorized and empowered to use the proceeds of any project obligations, together
with any other available funds, (i) to finance project costs as herein authorized; (ii) to
fund such reserves as the authority deems necessary and desirable; and (iii) to the extent
not needed for the foregoing uses, to pay or redeem such project obligations. (b) Pending
the application of the proceeds of project obligations to the purpose or purposes for which
such project obligations were issued, such proceeds may be invested by the authority in such
manner, consistent with the resolution pursuant to which such project obligations are issued,
as the board of directors may deem advisable. (c) Any and all revenues, receipts, investment
earnings and other funds paid to, or otherwise coming into the possession of, the...
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11-50A-19
Section 11-50A-19 Pledge of revenues. All or any part of the gross or net revenues derived
from any particular project or projects, whether or not such revenues were produced by a particular
project for which bonds have been issued, and any income and earnings otherwise received by
the authority from whatever source, and any other funds of the authority, may be pledged by
the authority to the payment of the principal of and interest on bonds as may be provided
in any resolution authorizing the issuance of any bonds or in any trust agreement or indenture
pertaining to those bonds. The funds so pledged may include funds received from one or more
or all sources and may be set aside at regular intervals into sinking funds for which provision
may be made in any resolution, trust agreement or indenture pertaining to the bonds. These
sinking funds may be pledged to and charged with the payment of (i) the interest on the bonds
as it shall become due, (ii) the principal of the bonds as they...
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22-29-15
Section 22-29-15 Bonds, notes and certificates not debt of state. All bonds, notes and
certificates issued by the authority shall be solely and exclusively obligations of the authority,
payable solely from the revenues, income, fees, charges or rent, which may, pursuant to the
provisions of this chapter, be pledged to the payment thereof, and no such bonds, notes or
certificates shall create an obligation or debt of the state; provided, that an agreement
by the authority to make a grant to a local public body for a project shall impose an obligation
on the state to make such grant from any funds which are then or may thereafter become available
regardless of the funding of the grant by the local public body and subject only to any terms
and conditions set forth in such agreement. (Acts 1971, No. 42, p. 279, §21.)...
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22-34-17
Section 22-34-17 Obligations solely of authority. All bonds, notes and certificates
issued by the authority shall be solely and exclusively obligations of the authority, payable
solely from the revenues, income, fees or charges which may pursuant to the provisions of
this chapter, be pledged to the payment thereof, and no such bonds, notes or certificates
shall create an obligation or debt of the state. Provided, however, that an agreement by the
authority to make a loan to a public body for a project shall impose an obligation on the
state to make such loan from any funds which are then or may thereafter become available regardless
of the funding of the loan by the public body and subject only to any terms and conditions
set forth in such agreement. (Acts 1987, No. 87-226, p. 317, §19.)...
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41-10-44.8
Section 41-10-44.8 Tax credits, job development fees and other incentives. (a) Upon
the issuance by the authority of its project obligations for the purpose of financing a project
for an approved company with respect to which the authority adopted a resolution accepting
the project prior to January 16, 1995, the approved company: (1) Shall receive a credit against
the corporate income tax levied by Section 40-18-31 that otherwise would be owed to
the state in any year by the approved company on its income generated by or arising out of
the project, such credit not to exceed the lesser of (i) the amount due in tax, or (ii) the
amount paid by the approved company pursuant to a financing agreement in the year for which
the tax is due, corresponding to debt service on the project obligations; and (2) May elect
to withhold and retain the aggregate job development fees described in paragraph (b) below,
but only to the extent that debt service payments under the financing agreement(s) exceed...

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9-10-38
Section 9-10-38 Security for bonds. (a) At the discretion of the corporation, any bonds
issued under the provisions of this article may be secured by a trust agreement by and between
the corporation and a corporate trustee, which may be any trust company or bank having the
powers of a trust company within or without the state. The trust agreement or the resolution
providing for the issuance of such bonds, subject to the provisions of Section 9-10-35,
may pledge or assign tolls, rentals, sales receipts or other revenues to which the corporation's
right then exists or which may thereafter come into existence and the moneys derived therefrom
and the proceeds of such bonds; provided, however, that the trust agreement or resolution
shall not convey or mortgage any project or any part thereof. (b) Such trust agreement or
resolution providing for the issuance of bonds may contain such provisions for protecting
and enforcing the rights and remedies of the bondholders as may be reasonable and...
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