11-89A-21
Section 11-89A-21 Dissolution of authority; vesting of title to authority's property. At any
time when an authority has no bonds or other obligations outstanding, its board may adopt
a resolution, which shall be duly entered upon its minutes, declaring that the authority shall
be dissolved. Upon filing for record of a certified copy of the said resolution in the office
of the judge of probate with which the authority's certificate of incorporation is filed,
the authority shall thereupon stand dissolved and in the event it owned any property at the
time of its dissolution, the title to all its properties shall, subject to any constitutional
prohibition or inhibitions to the contrary, thereupon vest in one or more counties or municipalities
in such manner and interests as may be provided in the said certificate of incorporation;
provided, however, that if said certificate of incorporation contains no provision respecting
the vesting of title to the properties of the authority, title to...
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11-50-316
Section 11-50-316 Execution, sale, etc., of bonds and refunding bonds of corporation; terms,
denominations, etc., thereof; charge, application, etc., of revenues from systems for payment
of bonds, etc., generally; vesting of title to systems in municipality and dissolution of
corporation upon payment of bonds in full, etc. (a) All bonds issued by any such corporation
organized or the certificate of incorporation of which is amended under this article shall
be signed by the chairman of the board of directors or other chief executive officer and attested
by its secretary, and the seal of such corporation shall be affixed thereto; provided that,
if authorized by the board of directors of such corporation, said bonds may be executed with
an engraved, imprinted, stamped, or otherwise reproduced facsimile of any signature or seal
in lieu of a manually made signature or manually made impressment of the seal; provided further,
that at least one signature required or permitted to be placed...
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11-89-17
Section 11-89-17 Authorization and procedure for dissolution of district; vesting of title
to properties of district and apportionment thereof upon dissolution of district. At any time
when the district has no bonds or other obligations outstanding, the board may adopt a resolution,
which shall be duly entered upon its minutes, declaring that the district shall be dissolved.
Upon the filing for record of a certified copy of the said resolution in the office of the
judge of probate of the county in which the district's certificate of incorporation was filed
the district shall thereupon stand dissolved and, in the event it owned any property at the
time of its dissolution, the title to all its property shall thereupon pass to and be divided
and apportioned among the counties and municipalities in which any part of the service area
may be located, or, if it is a supply district, among its authorizing subdivisions, all in
such manner and to such extent as may be provided in the district's...
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11-15-18
Section 11-15-18 Dissolution. At any time when the corporation does not have any warrants outstanding,
the governing body may adopt a resolution, which shall be duly entered upon the minutes of
the governing body, declaring that the corporation shall be dissolved. Upon the filing for
record of a certified copy of said resolution in the office of the judge of probate of the
county, the corporation shall thereupon stand dissolved, and, in the event it owned any property
at the time of its dissolution, the title to all its property shall thereupon vest in the
county. In the event the corporation shall at any time have outstanding warrants issued under
this chapter payable out of the revenues from different projects, then, as and when the principal
of and interest on all warrants payable from the revenues derived from any project shall have
been paid in full, title to the project with respect to which the warrants so paid in full
have been paid shall thereupon vest in the county, but such...
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22-21-154
Section 22-21-154 Dissolution. At any time when the authority does not have any bonds outstanding,
the board may adopt a resolution, which shall be duly entered upon its minutes, declaring
that the authority shall be dissolved. Upon the filing for record of a certified copy of said
resolution in the office of the judge of probate of the county, the authority shall, thereupon,
stand dissolved, and in the event that it owned any assets or property at the time of its
dissolution, the title to all its assets and property shall thereupon vest in the municipality.
In the event the authority shall at any time have outstanding bonds issued under this article
payable out of the revenues of different projects, then as and when the principal of and interest
on all bonds payable from the revenues derived from any project shall have been paid in full,
title to the project, with respect to which the bonds so paid in full have been paid, shall
thereupon vest in the municipality, but such vesting of...
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11-49B-19
Section 11-49B-19 Dissolution of authority and vesting of property. At any time when the authority
has no bonds or outstanding obligations, the board may adopt a resolution, which shall be
duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing
for record of a certified copy of the resolution in the office of the judge of probate of
the authorizing county, the authority shall be dissolved and in the event it owned any property
at the time of its dissolution, the title to its properties shall pass to, and vest in the
authorizing county, the principal municipality, and the participating municipalities. The
county and each municipality shall have title to the property as tenant in common. The fractional
interest of the authorizing county, the principal municipality, and each participating municipality
in the property shall be represented by a fraction the numerator of which is the total amount
of fund provided by the authorizing county and each...
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22-21-191
Section 22-21-191 Dissolution of corporation. If at any time the corporation shall have outstanding
no unpaid securities and if each member of the board of directors of the corporation shall
execute and file for record in the office of the judge of probate of the county in which the
corporation is organized a certificate of dissolution reciting the fact that the corporation
has outstanding no unpaid securities, stating that it is in the best interests of the public
for the corporation to be dissolved and declaring the corporation to be dissolved, the corporation
shall thereupon stand dissolved, and title to all funds and properties owned by it at the
time of such dissolution shall vest, jointly, in the county and the largest of the member
municipalities, according to the federal decennial census next preceding the date of the filing
of the certificate of incorporation of the corporation for record, whereupon possession of
such funds and properties shall forthwith be delivered to the...
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11-32-20
Section 11-32-20 Dissolution of transit authority. The authority shall be a nonprofit corporation,
and no part of its net earnings remaining after payment of its expenses shall inure to the
benefit of any individual, firm, or corporation except as provided in this section. At any
time when the authority has no bonds or outstanding obligations, the board may adopt a resolution,
which shall be duly entered upon its minutes, declaring that the authority shall be dissolved.
Upon the filing for record of a certified copy of the resolution in the office of the judge
of probate of the authorizing county, the authority shall be dissolved and in the event it
owned any property at the time of its dissolution, the title to its properties shall pass
to, and vest equally in, the principal municipality and the authorizing county, as tenants
in common. (Act 2013-380, p. 1389, §20.)...
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11-58-7
Section 11-58-7 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, etc.;
dissolution of corporation. (a) All bonds issued by a corporation organized under authority
of this chapter shall be solely and exclusively obligations of the corporation and shall not
create an obligation or debt of any municipality or county. No county or municipality shall
pledge its faith or credit for the payment of any debt incurred or bonds issued by the corporation.
(b) Bonds may be executed and delivered at any time and from time to time, may be in the form
and denominations, may be of the tenor, may be in registered or bearer form, either as to
principal or interest or both, may be payable in installments and at a time or times, not
exceeding 40 years from their issuance date, may be payable at a place or places, may bear
interest at a rate or rates payable at a place or places and evidenced in a manner, and may
contain provisions not inconsistent with this chapter as may be provided by...
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11-99B-7
Section 11-99B-7 Powers of district generally; power of district to acquire and operate projects;
provisions in schedules of rates and charges generally. Each district shall have the following
powers, together with all powers incidental thereto or necessary to the discharge thereof
in corporate form: (1) To have succession by its corporate name for the duration of time,
which may be in perpetuity, subject to the provisions of Section 11-99B-15, specified in its
certificate of incorporation. (2) To sue and to be sued in its own name in civil actions,
and to defend civil actions against it; provided, that the district shall be deemed to be
a "governmental entity" as defined in Chapter 93 of this title, for the purposes
of limiting the damages for which the district and its members may be liable. (3) To adopt
and make use of a corporate seal and to alter the same at pleasure. (4) To adopt and alter
bylaws for the regulation and conduct of its affairs and business. (5) To acquire, receive,...

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