§ 12-10-117. Execution of Leases, Contracts and Deeds
Except as otherwise provided in this chapter, all leases, contracts, deeds of conveyance, or instruments in writing executed by the authority shall be executed in the name of the authority by the chair and secretary of the authority, or by such other officers as the board of directors, by resolution, may direct, and the seal […]
§ 12-10-118. Status as Nonprofit Corporation — Disposition of Earnings
The authority shall be a public nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that in the event the board shall determine that sufficient provision has been made for the full payment of the expenses, bonds […]
§ 12-10-119. Dissolution of Authority
Whenever the board of directors of an authority shall by resolution determine that there has been substantial compliance with the purposes for which the authority was formed and all bonds theretofore issued and all obligations theretofore incurred by the authority have been fully paid, the members of the board shall thereupon execute and file for […]
§ 12-10-120. Joint Operation of Authorities
The powers herein conferred upon authorities created under this chapter may be exercised by two (2) or more such authorities acting jointly. Two (2) or more municipalities may by acting jointly incorporate a public building authority to effectuate the purposes of this chapter. When two (2) or more municipalities incorporate such an authority, each and […]
§ 12-10-121. Project Sites — State May Transfer Property to and Contract With Authorities
Any municipal corporation may acquire a project site by gift, purchase or lease, or exercise of the power of eminent domain, and may transfer any project site to an authority by sale, lease or gift. Such transfer may be authorized by a resolution of the governing body of the municipal corporation without submission of the […]
§ 12-10-122. Application of Other Laws to Authority — Compliance With Contract Requirements — Agreements Concerning Interest Rates
Neither this chapter nor anything herein contained shall be construed as a restriction or limitation upon any powers which an authority, as a public corporation, might otherwise have under any laws of this state, but shall be construed as cumulative of any such powers. No proceedings, notice or approval shall be required for the organization […]
§ 12-10-123. [reserved.]
An authority which operates or maintains more than one (1) project may maintain a common account or accounts and buy supplies and services in common; provided, that expenditures periodically shall be allocated to each project on an appropriate basis. An authority in the operation, maintenance, and routine repairs of a project may purchase goods, supplies […]
§ 12-10-108. Board of Directors — Executive Committee — Administrator — Consent Action
The authority shall have a board of directors in which all corporate powers of the authority shall be vested and which shall consist of any number of directors, no less than seven (7), all of whom shall be duly qualified electors of the municipality. The directors shall serve as such without compensation, except that they […]
§ 12-10-109. Powers of Authorities
Each public building authority created pursuant to this chapter shall be a public nonprofit corporation and a public instrumentality of the municipality with respect to which the authority is organized. The authority has the following powers, together with all powers incidental thereto or necessary for the performance of those hereinafter stated, to: Have succession by […]
§ 12-10-110. Acceptance of Donations
For the purpose of aiding and cooperating with an authority, the municipality, with respect to which such authority is created, may assign or loan any of its employees, including its engineering staff and facilities, and may provide necessary office space, equipment, or other facilities for the use of such authority. The governing body of such […]