§ 51-41-23. Execution of bonds
Bonds shall be executed by the manual or facsimile signature of the chairman of the water authority and by manual or facsimile signature of the secretary of the water authority. In case any of the officers whose signatures appear on the bonds cease to be that officer before the delivery of the bonds, their signatures […]
§ 51-41-25. Security for bonds
The principal of, and interest, if any, on the bonds, may be secured by a pledge of the revenues of the water authority of that project financed by the water authority through its issuance of bonds, or from any other source that the water authority may deem necessary and appropriate, and may be secured by […]
§ 51-41-27. Bonds – tax exemption
The principal of and interest, if any, on bonds issued under the authority of this chapter shall be exempt from all state, county and municipal taxes. This exemption shall include income, inheritance and estate taxes.
§ 51-41-29. Proceeds from issuance of bonds
The proceeds derived from all of the bonds, other than refunding bonds, may be used only to pay the costs of acquiring, constructing, improving, enlarging and equipping the project with respect to which they were issued, as may be specified in the proceedings in which the bonds are authorized to be issued and all costs […]
§ 51-41-31. Refunding bonds
The water authority may at any time, and from time to time, issue refunding bonds for the purpose of refunding the principal of and interest, if any, on any bonds of the water authority previously issued under this chapter and then outstanding, whether or not the principal and interest have matured at the time of […]
§ 51-41-33. Act is full authority
This chapter shall be deemed to be full and complete authority for the creation of water authorities and the issuance of bonds as set forth in this chapter. No proceedings shall be required for the creation of water authorities or the issuance of bonds other than those provided for and required in this chapter. The […]
§ 51-41-19. Tax exemption of projects
Each project, all the water authority’s interest therein, and all income from the project, is determined and declared by the Legislature to be public property used exclusively for a public purpose and shall be exempt from ad valorem taxation by all taxing authorities.
§ 51-41-21. Issuance of bonds
The water authority is authorized at any time, and from time to time, to issue its bonds for the purpose of acquiring, constructing, improving, enlarging, completing and equipping one or more projects. Before the water authority’s proposed issuance of bonds, the water authority shall publish one (1) time in a newspaper of general circulation in […]
§ 51-39-43. Chapter constitutes full and complete authority for creation of district
This chapter, without reference to any other statute, shall be deemed to be full and complete authority for the creation of a district. No proceedings shall be required for the creation of a district other than those provided for and required in this chapter. All the necessary powers to be exercised by the governing body […]
§ 51-41-1. Legislative intent
It is the intent of the Legislature to provide a means, in addition to the incorporation of districts authorized in Sections 19-5-151 through 19-5-207, by which not-for-profit corporations or associations involved in the sale, transmission and distribution of potable water to members of the public and others may convert their entity status from that of […]