§ 57-10-259. Annual report
The company shall, within one hundred twenty (120) days of the close of each fiscal year, submit an annual report of its activities for the preceding year to the Governor. The clerk of each house of the Legislature shall receive a copy of the report by making a request for it to the company. Each […]
§ 57-10-233. Liability of state or subdivisions on bonds; personal liability of directors; statement required on face of bond
No bonds issued by the company under this article shall constitute a debt, liability or general obligation of the state or any political subdivision thereof (other than the company), or a pledge of the faith and credit of the state or any political subdivision thereof (other than the company), but shall be payable solely as […]
§ 57-10-235. Term, interest rate, denominations, etc. of bonds; use of proceeds; rules and regulations
The bonds shall be authorized by a resolution of the company, shall bear such date or dates, and shall mature at such time or times as such resolution may provide, except that no bond shall mature more than thirty (30) years from the date of issue. Bonds which are not subject to taxation shall bear […]
§ 57-10-237. Miscellaneous provisions of resolution authorizing issuance of bonds
Any resolution authorizing the issuance of bonds may contain provisions as to: Pledging all or any part of the revenues of the company to secure the payment of the bonds subject to the terms of the proceedings relating to other bonds of the company as may then exist; Pledging all or any part of the […]
§ 57-10-239. Effect of pledge; recording of resolution or other instruments
Any pledge made by the company shall be valid and binding from the time when the pledge was made. The revenues or properties so pledged and thereafter received by the company shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such […]
§ 57-10-221. Applicability of debt limitation or restriction
Bonds issued pursuant to the provisions of this article shall not constitute an indebtedness within the meaning of any debt limitation or restriction.
§ 57-10-223. Procedure for public hearings and approval
Whenever federal law requires public hearings and public approval as a prerequisite to obtaining federal tax exemption for the interest paid on industrial development bonds under Section 141 of the Revenue Code, unless otherwise specified by federal law or regulation, the public hearing for industrial development bonds of the company shall be conducted by the […]
§ 57-10-225. Loans to lenders
The company may make, and undertake commitments to make, loans to lenders under terms and conditions requiring the proceeds thereof to be used by such lenders to make loans to eligible businesses. Loan commitments or actual loans may be originated through and serviced by any such lender. As a condition to a lender’s participating in […]
§ 57-10-227. Investment in, purchase and assignment of loans made by lenders
The company may invest in, purchase or make commitments to invest in or purchase, and take assignments or make commitments to take assignments, of loans made by lenders for the acquisition, construction, rehabilitation, expansion or purchase of a project or projects for eligible business.
§ 57-10-229. Promulgation of regulations relating to §§ 57-10-225 and 57-10-227
Prior to carrying out the powers granted under Sections 57-10-225 and 57-10-227, the company shall promulgate rules and regulations governing its activities authorized thereunder, including but not limited to rules and regulations relating to the following: Procedures for the submission of requests or invitations and proposals for making loans to lenders and the investment in, […]