14-2-22
Section 14-2-22 Bonds - Enforcement upon default. If there be any default by the authority
in the payment of the principal of or interest on the bonds or in any of the agreements on
the part of the authority which may properly be included in any resolution or indenture of
trust securing such bonds, any holder of any of the bonds or the trustee for the bondholders
under any resolution or indenture of trust, if so authorized therein, may, by an action, mandamus
or other proceedings, enforce payment of such items and foreclosure upon any mortgage or security
interest granted as security for such bonds and compel performance of all duties of the directors
and officers of the authority and shall be entitled, as a matter of right and regardless of
the sufficiency of any such security or the availability of any other remedy, to the appointment
of a receiver with all the power of such receiver for the maintenance, insurance and leasing
of the facilities and property covered by such resolution...
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41-10-319
Section 41-10-319 Rights of holders of bonds upon default. If there be any default by the authority
in the payment of the principal of or interest on the bonds or in any of the agreements on
the part of the authority which may properly be included in any resolution or indenture of
trust securing such bonds, any holder of any of the bonds or the trustee for the bondholders
under any resolution or indenture of trust, if so authorized therein, may, by an action, mandamus
or other proceedings, enforce payment of such items and foreclosure upon any mortgage or security
interest granted as security for such bonds and compel performance of all duties of the directors
and officers of the authority and shall be entitled, as a matter of right and regardless of
the sufficiency of any such security or the availability of any other remedy, to the appointment
of a receiver with all the power of such receiver for the maintenance, insurance and leasing
of the facilities and property covered by such...
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41-10-509
Section 41-10-509 Enforcement upon default. If there be any default by the authority in the
payment of the principal of or interest on the bonds or in any of the agreements on the part
of the authority which may properly be included in any resolution or indenture of trust securing
such bonds, any holder of any of the bonds or the trustee for the bondholders under any resolution
or indenture of trust, if so authorized therein, may, by an action, mandamus or other proceedings,
enforce payment of such items and foreclosure upon any mortgage or security interest granted
as security for such bonds and compel performance of all duties of the directors and officers
of the authority and shall be entitled, as a matter of right and regardless of the sufficiency
of any such security or the availability of any other remedy, to the appointment of a receiver
with all the power of such receiver for the maintenance, insurance and leasing of the facilities
and property covered by such resolution or...
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11-54-184
Section 11-54-184 Nonliability of authorizing municipality. The authorizing municipality shall
not in any event be liable for the payment of the principal of or interest on any bonds of
an authority or for the performance of any pledge, mortgage, obligation, or agreement of any
kind whatsoever which may be undertaken by an authority, and none of the bonds of an authority
or any of its agreements or obligations shall be construed to constitute an indebtedness of
the authorizing municipality within the meaning of any constitutional or statutory provision
whatsoever. (Acts 1980, No. 80-648, p. 1235, §15.)...
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11-92C-14
Section 11-92C-14 Liability of authorizing subdivision. An authorizing subdivision shall not
in any event be liable for the payment of the principal of, or interest on, any bonds of the
authority or for the performance of any pledge, mortgage, obligation, or agreement of any
kind whatsoever which may be undertaken by an authority, and none of the bonds of the authority
or any of its agreements or obligations shall be construed to constitute indebtedness of the
authorizing subdivision within the meaning of any constitutional or statutory provision. (Act
2020-72, §14.)...
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11-95-12
Section 11-95-12 Liability of authorizing subdivisions. Neither of the authorizing subdivisions
shall be liable in any manner for the payment of the principal of or interest on any bonds
of a corporation or for the performance of any pledge, mortgage, obligation or agreement of
any kind whatsoever that may be undertaken by a corporation, and neither the bonds of a corporation
nor any of its agreements or obligations shall be construed to constitute an indebtedness
of either of the authorizing subdivisions within the meaning of any constitutional or statutory
provision whatsoever. (Acts 1981, No. 81-338, p. 480, §12.)...
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22-21-140
Section 22-21-140 Lease agreements with municipality. (a) Authorization of lease. The authority
and the municipality are hereby respectively authorized to enter into one or more lease agreements
with each other whereunder one or more projects or any part thereof shall be leased by the
authority to the municipality. No such lease agreement shall be for a term longer than the
then current fiscal year in which it is made. Any such lease agreement made, however, may
contain a grant to the municipality of successive options to renew such lease agreement, on
the conditions specified therein, for additional terms; but no such additional term shall
be for a period longer than the fiscal year in which such renewal shall be made. The lease
agreement may contain provisions as to the method by which such renewal may be effected. (b)
Payments limited to current revenues of the municipality for current fiscal year. The obligation
on the part of the municipality to pay the rental required to be paid...
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22-21-144
Section 22-21-144 Bonds - Security. The principal of, and the interest on, the bonds shall
be secured by a pledge of the revenues out of which the bonds shall be made payable, may be
secured by a pledge of the lease agreement (if any) covering the project from which revenues
so pledged shall be derived and by a pledge of the rental from such project and may be secured
by a nonforeclosable indenture covering the project or projects out of the revenues from which
the bonds are made payable. The trustee, under any indenture, may be a trust company or bank
having trust powers, whether located within or without the state, and may be selected by the
board without regard to the provisions of Chapter 25 of Title 36 of this code or other similar
law. The indenture may contain any agreements and provisions customarily contained in instruments
securing evidences of indebtedness including, without limiting the generality of the foregoing,
provisions respecting the collection, segregation and...
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22-21-320
Section 22-21-320 Securities of authority. Securities of an authority may be executed and delivered
by it at any time and from time to time, shall be in such form and denominations and of such
tenor and maturity or maturities not exceeding 40 years from their date, shall bear such rate
or rates of interest (which may be fixed or which may float or vary based on some index or
other standard deemed appropriate by the board), shall be payable and evidenced in such manner,
may contain provisions for redemption prior to maturity and may contain other provisions not
inconsistent with this article, all as may be provided by the resolution of the board authorizing
the same or by the indenture whereunder such securities are authorized to be issued. Each
such security having a specified maturity date more than 10 years after its date shall be
made subject to redemption at the option of the authority at the end of the tenth year after
its date, and on any interest payment date thereafter, under...
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22-21-355
Section 22-21-355 Further provisions respecting investment of funds. In addition to the investment
powers granted by the enabling statute, any authority shall, to the extent permitted by the
contracts of such authority with the holders of its securities, have the further power to
invest any portion of the principal proceeds derived from the sale of any of its securities
not then needed for any of the purposes for which such securities were authorized to be issued,
any moneys held in any special fund created pursuant to any resolution or mortgage, mortgage
indenture, mortgage and trust indenture or trust indenture authorizing or securing any of
its securities, and any other moneys of such authority not then needed by it, in any of the
following: (1) Debt securities (whether general obligations or limited or special obligations)
of any state, territory or possession of the United States of America and of any political
subdivision of any such state, territory or possession, but if and...
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