§ 14-362-116. Issuance of revenue bonds — Refunding bonds
(a) (1) Revenue bonds may be issued under this chapter for the purpose of refunding any obligations issued under this chapter. (2) The refunding bonds may be combined with bonds issued into a single issue. (b) (1) When bonds are issued under this section for refunding purposes, the bonds may either be sold or delivered […]
§ 14-362-132. Exemption from annexation and municipal regulation — Definition
(a) For purposes of this section, “authority” means an authority created with members from two (2) or more counties and three (3) or more cities, and the property of the authority shall be defined as the real property owned in fee simple title by the authority or property acquired in fee simple title by the […]
§ 14-362-117. Issuance of revenue bonds — Mortgage lien
(a) The resolution or indenture securing the bonds may impose a forecloseable mortgage lien upon or security interest in the facilities of the authority, or any portion thereof, and the extent of the mortgage lien or security interest may be controlled by the resolution or indenture including, without limitation, provisions pertaining to the release of […]
§ 14-362-118. Issuance of revenue bonds — Default
(a) (1) In the event of a default in the payment of the principal of or interest on any bonds issued under this chapter any court having jurisdiction may appoint a receiver to take charge of any facilities upon or in which there is a mortgage lien or security interest securing the bonds in default. […]
§ 14-362-119. Agreements to obtain funds
Each authority may, in connection with obtaining funds for its purposes, enter into any agreement with any person, firm, or corporation including the federal government, or any agency or subdivision thereof, containing such provisions, covenants, terms, and conditions as the authority may deem advisable.
§ 14-362-120. Acquisition of property
Whenever it shall be deemed necessary by an authority, in connection with the exercise of its powers conferred in this chapter, to take or acquire any lands, structures, buildings, or other rights, either in fee or as easements, for the purposes set forth in this chapter, the authority may purchase them directly or through its […]
§ 14-362-121. Exemption from taxation
(a) Each authority shall be exempt from the payment of any taxes or fees to the state, or any subdivision thereof, or to any office or employee of the state, or of any subdivision thereof. (b) (1) The property of each authority shall be exempt from all local and municipal taxes. (2) Bonds, notes, debentures, […]
§ 14-362-122. Use of surplus funds
(a) If an authority should realize a surplus, whether from operating the airport or leasing it for operation, over and above the amount required for the maintenance, improvement, and operation of the airport and for meeting all required payments on its obligations, it shall set aside the reserve for future operations, improvements, and contingencies as […]
§ 14-362-123. Public and private contributions
(a) Contributions may be made to authorities from time to time by the counties and municipalities and persons, firms, or corporations that shall desire to do so. (b) In order to afford maximum opportunities for contributions, the agreement provided for under § 14-362-103 may be treated as a cooperative agreement under the provisions of the […]
§ 14-362-124. Accounts and reports
(a) (1) All funds received by an authority shall be deposited in such banks as the authority may direct and shall be withdrawn therefrom in such manner as the authority may direct. (2) (A) Each authority shall keep strict account of all of its receipts and expenditures and each quarter shall make a report to […]