45-8A-111.09
Section 45-8A-111.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. The principal of and interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance, and insurance of...
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45-8A-20.09
Section 45-8A-20.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. The principal of and interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance, and insurance of...
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11-50-235
alter the same at pleasure; (4) To acquire, purchase, construct, operate, maintain, enlarge,
extend, and improve any system or systems, the operation of which is provided for in the certificate
of incorporation of such corporation (whether or not such system or systems were in existence
or whether or not such system or systems were privately owned prior to acquisition by such
corporation) and to receive, acquire, take, and hold, whether by purchase, gift, lease, devise,
or otherwise, real, personal, and mixed property of any nature whatsoever that its
board of directors may deem a necessary or convenient part of such system or systems; (5)
To borrow money and to issue in evidence of the borrowing interest-bearing bonds payable solely
from the revenues derived from the operation of either or both of its systems (although the
money so borrowed may be used for the benefit of or with respect to only one of its systems);
(6) To pledge for payment of its bonds any revenues from which such...
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11-50-314
(whether or not such system or systems were in existence and whether or not such system or
systems were privately owned prior to acquisition by such corporation and whether such system
or systems are located within or without or partly within and partly without the limits of
the municipality which authorized the organization of such corporation or within the limits
of another municipality) and to receive, acquire, take, and hold, whether by purchase, gift,
lease, devise, or otherwise, real, personal, and mixed property of any nature whatsoever
that its board of directors may deem a necessary or convenient part of such system or systems;
(5) To borrow money for any corporate function, use, or purpose and to issue in evidence of
the borrowing interest-bearing bonds payable solely from the revenues derived from the operation
of any one or more of its systems (regardless of the system or systems for the benefit of
or with respect to which such borrowing may be made); (6) To pledge for...
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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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11-22-8
the period specified in the certificate of incorporation unless sooner dissolved as hereinafter
provided; (2) To sue and be sued and to prosecute and defend in any court having jurisdiction
of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter
the same at pleasure; (4) To acquire, whether by purchase, construction, exchange, gift, lease,
or otherwise, to improve, maintain, equip, furnish, own, and operate one or more projects,
including all real and personal properties which the board of directors of the corporation
may deem necessary in connection therewith and regardless of whether or not any such projects
or any part thereof shall then be in existence; (5) To fix, prescribe and collect rates, fees,
tolls, charges, or rentals for the use of any of its facilities and for services, facilities,
and accommodations furnished by it or any of its facilities; (6) To adopt and enforce rules
and regulations relative to the use or occupancy of any of...
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11-60-8
in the certificate of incorporation unless sooner dissolved as provided in this chapter; (2)
To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter
the same at pleasure; (4) To acquire, whether by purchase, construction, exchange, gift, lease,
or otherwise to improve, maintain, equip, furnish, own, and operate one or more projects,
including all real and personal properties which the board of directors of the corporation
may deem necessary in connection therewith, regardless of whether or not any such projects
or any part thereof shall then be in existence; (5) To fix, prescribe, and collect rates,
fees, tolls, charges, or rentals for the use of any of its facilities and for services, facilities,
and accommodations furnished by it or any of its facilities; (6) To adopt and enforce rules
and regulations relative to the use or occupancy of any of its...
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11-62-8
any authority may enter into contracts with the holders of any of its bonds or notes preventing
such authority from thereafter issuing general obligation bonds or notes or limiting the amount
of such bonds or notes that may thereafter be issued. To the extent permitted by any contracts
with the holders of outstanding bonds and notes and any other contractual obligations or requirements,
any authority may pledge any of its revenues or mortgage or assign any of its assets, whether
real or personal and whether tangible or intangible, to secure the payment of any of
its bonds or notes. (d) All obligations created or assumed by any authority and all bonds
or notes issued thereby shall be solely and exclusively an obligation of such authority and
shall not create an obligation or debt of the state, the determining municipality or any other
political subdivision of the state or public corporation or governmental agency existing under
the laws thereof; provided, that the provisions of this...
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16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding bonds;
security. The authority shall have power and is hereby authorized from time to time to provide
by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or
any part of the cost as herein defined of any of its projects. Such bonds may also be issued
to pay off, refund or refinance any outstanding bonds or other obligation of any nature owed
by the authority, whether or not such revenue bonds or other obligations shall then be subject
to redemption, and the authority may provide for such arrangements as it may determine for
the payment and security of the revenue bonds being issued or for the payment and security
of the revenue bonds or other obligations to be paid off, refunded or refinanced. The principal,
premium, if any, and interest of such revenue bonds shall be payable solely from the revenues,
receipts and earnings to be received by the authority in...
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11-81-244
Section 11-81-244 Application for funding; administration of program; powers and duties of
local governments; installation of improvements; assessments. (a) A real property owner in
a designated region may apply to a local government under a program for funding to finance
a qualified project and enter into a written contract with the local government. Costs of
the project incurred by the real property owner or the local government for such purposes
may be collected as an assessment, as authorized in Section 11-81-242. (b) A local government
may enter into a partnership with one or more other local governments for the purpose of providing
and financing qualified projects. (c) A qualified program may be administered by a for-profit
or nonprofit organization on behalf of and at the discretion of the local government. (d)
A local government may incur debt for the purpose of providing the improvements, payable from
revenues received from the improved real property, or any other available...
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