11-54-145
Section 11-54-145 Requirements respecting leases. Prior to the leasing of any project, the
governing body must determine and find the following: The amount necessary in each year to
pay the principal of and the interest on the bonds proposed to be issued to finance such project;
the amount necessary to be paid each year into any reserve funds which the governing body
may deem it advisable to establish in connection with the retirement of the proposed bonds
and the maintenance of the project; and, unless the terms under which the project is to be
leased provide that the lessee shall maintain the project and carry all proper insurance with
respect thereto, the estimated cost of maintaining the project in good repair and keeping
it properly insured. The determinations and findings of the governing body required to be
made in the preceding sentence shall be set forth in the proceedings under which the proposed
bonds are to be issued; and prior to the issuance of such bonds, the...
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11-54-24
Section 11-54-24 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this article shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under authority of this article shall never constitute an
indebtedness of the municipality within the meaning of any state constitutional provision
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal or...
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11-55-3
Section 11-55-3 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this chapter shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under authority of this chapter shall never constitute an
indebtedness of the municipality within the meaning of any state constitutional provisions
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal or...
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11-61A-13
Section 11-61A-13 Bonds. (a) The authority may issue and sell its interest-bearing revenue
bonds for any corporate purpose at any time or times. The principal of and the interest on
the bonds shall be payable solely from, and may be secured by a pledge of, the revenues derived
by the authority from the operation of any or all of its parking facilities and other property,
or by mortgage of any property of the authority. The bonds issued or contracts entered by
the authority shall not constitute or create an obligation, debt, or charge against the credit
or taxing power of the state, any county, or municipality within the state. (b) The board
may provide for each of the following regarding the bonds: (1) Issuance time or times. (2)
Form and denominations. (3) Tenor. (4) Payment installments, which shall be at a time or times
not exceeding 40 years from their date. (5) Place or places of payment, whether within or
without the state. (6) Interest rate or rates payable and evidenced in a...
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41-10-676
Section 41-10-676 Use of bond proceeds. (a) The proceeds derived from the sale of the bonds
shall be deposited in the State Treasury and shall be carried in a separate fund therein for
the account of the authority. The proceeds from the sale of the bonds remaining after payment
of the expenses of issuance thereof shall be retained in such fund and, until they are paid
out, shall be invested by the State Treasurer at the direction of the authority, in investments
that constitute permitted investments, as defined in the Enabling Act. Monies in such fund,
whether original proceeds from the sale of the bonds or earnings on such proceeds, shall be
paid out from time to time in orders or warrants issued by or on the direction of the authority
for any one or more of the purposes specified in Section 41-10-674 that may be deemed by the
authority to be necessary to comply with any and all commitments made by the state to any
company. (b) Notwithstanding subsection (a), the authority may use...
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9-6-9
Section 9-6-9 Bonds - Issuance; form, terms, denominations, etc.; sale; security for payment
generally. All bonds issued by the authority shall be signed by the chairman of its board
or other chief executive officer and attested by its secretary, and the seal of the authority
shall be affixed thereto and any interest coupons applicable to the bonds of the authority
shall be signed by the chairman of its board or other chief executive officer; provided, that
a facsimile signature of one, but not both, of said officers may be printed or otherwise reproduced
on any such bonds in lieu of his manually signing the same, and a facsimile of the signature
of the chairman of the board or other chief executive officer may be printed or otherwise
reproduced on any such interest coupons in lieu of his manually signing the same. Any such
bonds may be executed and delivered by the authority at any time and from time to time, shall
be in such form and denominations and of such tenor and maturities,...
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11-47-210.1
Section 11-47-210.1 Legislative findings and declarations. The Legislature finds and declares
all of the following: (1) Through this article, the Legislature has (i) granted to each municipality
in the state, acting either individually or in cooperation with one or more other municipalities,
the power to acquire, operate, manage, and control parks, playgrounds, and other recreational
or athletic facilities and to authorize the organization of an authority, as a public corporation,
to act on behalf of the municipality or municipalities in providing for the ownership and
management of parks, playgrounds, and other recreational or athletic facilities, (ii) provided
for the organization of the authorities, and (iii) specified certain powers to be enjoyed
by such an authority. (2) In order to facilitate the accomplishment of the legislative objectives
reflected in this article and to provide for a greater degree of mutual cooperation among
separate political subdivisions, it is necessary,...
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11-54-53
Section 11-54-53 Requirements as to leasing of projects. (a) Prior to the leasing of any project,
the governing body must determine and find the following: (1) The amount necessary in each
year to pay the principal of and the interest on the bonds proposed to be issued to finance
such project; (2) The amount necessary to be paid each year into any reserve funds which the
governing body may deem it advisable to establish in connection with the retirement of the
proposed bonds and the maintenance of the project; and (3) The estimated cost of maintaining
the project in good repair and keeping it properly insured, unless the terms under which the
project is to be leased provide that the lessee shall maintain the project and carry all proper
insurance with respect thereto. (b) The determinations and findings of the governing body
required to be made by subsection (a) of this section shall be set forth in the proceedings
under which the proposed bonds are to be issued and, prior to the...
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11-54-54
Section 11-54-54 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this article shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under the authority of this article shall never constitute
an indebtedness of the municipality within the meaning of any state constitutional provision
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal...
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11-92C-22
Section 11-92C-22 Establishment and revision of rentals, licenses, rates, fees, and charges
for services or facilities rendered by authority. Rates, fees, charges, rentals, and licenses
for services rendered by an authority, a cooperative district of which the authority is a
member, or a private user or facilities provided by the authority, a cooperative district
of which the authority is a member, or a private user from any of their projects shall be
so fixed and, from time to time, revised as at all times to provide funds at least sufficient,
taking into account other sources for the payment thereof, to: (1) Pay the cost of operating,
maintaining, repairing, replacing, extending, and improving the project or projects of the
authority, a cooperative district of which the authority is a member, or any private user.
(2) Pay the principal of and the interest on all bonds issued and obligations assumed by the
authority, a cooperative district of which the authority is a member, or any...
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