Section 5-20-7 – Bonding authority.
A. A district may issue revenue bonds, the pledged revenue for which shall be fees, charges, lease payments, installment sale payments or other revenue sources by a project for any one or more of the purposes authorized by the Regional Air Center Special Economic District Act. B. A district may pledge irrevocably any or all […]
Section 5-20-8 – Refunding bonds.
A. A district that has issued bonds in accordance with the Regional Air Center Special Economic District Act may issue refunding bonds for the purpose of refinancing, paying and discharging all or any part of outstanding bonds for the: (1) acceleration, deceleration or other modification of the payment of the outstanding bonds, including, without limitation, […]
Section 5-20-9 – Bonds not obligation of the state.
Except as otherwise provided in the Regional Air Center Special Economic District Act, all bonds or other obligations issued pursuant to that act are payable solely from the revenues of the district that may be pledged to the payment of such obligations, and the bonds or other obligations shall not create an obligation, debt or […]
Section 5-20-10 – Dissolution.
The municipality and county that formed the district and any counties, municipalities, Indian nations, tribes or pueblos that have become part of the district may, by unanimous vote, agree to unwind and dissolve the district and dismiss the authority members if they find the district is not meeting the needs of the community in managing […]
Section 5-20-4 – Creation of an authority; members; terms; qualifications.
A. A municipality and county that form a district shall create an authority to govern the district that consists of an odd number of members, but not fewer than five or more than nine in number. B. The terms of the members shall be reasonably staggered. Of the members initially appointed, that number of members […]
Section 5-20-5 – Authority; powers; duties.
A. An authority is a political subdivision of the state that may, in accordance with law and to effectuate the purposes of the district it governs: (1) have perpetual existence; (2) sue and be sued; (3) adopt bylaws, policies and procedures; (4) employ a director, who may employ staff as necessary to administer the authority; […]
Section 5-20-6 – Revenue bonds; exemption from taxation.
A. To effectuate the purposes of the district it governs, an authority may issue revenue bonds to: (1) encourage the location of commercial, research or industrial or other enterprises to a district; or (2) acquire, purchase, lease, construct or improve commercial, research or industrial sites or buildings or make other capital improvements, including the construction […]
Section 5-18-11 – Powers and duties of a district.
A. The district board shall: (1) establish guidelines and standards for renewable energy improvements to be made to property included in the district; (2) establish guidelines and procedures for a property owner to enter into an agreement with the district board to include property in the district; (3) establish guidelines for the documentation required from […]
Section 5-18-12 – Change in district.
A. At any time after adoption of a resolution creating a district, property may be added to the district at the request of the owner of the property, upon adoption of a resolution of the district board. B. Property may be deleted from the district only upon request of the property owner and adoption of […]
Section 5-18-13 – Dissolution of district.
The district may be dissolved by the district board by a resolution of the district board upon a determination that the district has no outstanding bond obligations. The district shall not be dissolved if any bonds of the district remain outstanding unless an amount of money sufficient, together with investment income thereon, to make all […]