§ 12-10-113. Tax Exemption — Status Under Securities Law
The authority is hereby declared to be performing a public function in behalf of the municipality with respect to which it is organized, and to be a public instrumentality of such municipality. Accordingly, the authority and all properties at any time owned by it, and the income therefrom, and all bonds issued by it, and […]
§ 12-10-114. Nonliability of Municipality
The municipality shall not in any event be liable for the payment of the principal of or interest on any bonds of the authority or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the authority, and none of the bonds of the authority or […]
§ 12-10-115. Payments Under Lease, Loan Agreement, Sales Contract or Operating Contract — Tax and Other Methods
Except as provided in subsections (b) and (c), whenever, and as often as, a municipal corporation having taxing power enters into a lease, loan agreement, sales contract or operating contract with a public building authority or other contracting party under this chapter, the governing body of such municipal corporation shall provide by resolution for the […]
§ 12-10-116. Municipal Leases, Loan Agreements, Sales Contracts or Operating Contracts Authorized — Agreements Relating to Interest Rates
Any municipal corporation is authorized to enter into such leases, loan agreements, sales contracts or operating contracts by resolution of its governing body or, in the case of such agreements or contracts for the financing of a project or projects eligible to be financed pursuant to title 7, chapter 34, with a term of not […]
§ 12-10-101. Short Title
This chapter shall be known and may be cited as the “Public Building Authorities Act of 1971.”
§ 12-10-102. Purposes — Liberal Construction
It is hereby found and declared that there exist in many municipalities within this state inadequate and outmoded public buildings, structures, and facilities for the furnishing of governmental, educational and other public services and for use in the conduct of government by the various branches, departments and agencies thereof; that in many cases, by reason […]
§ 12-10-103. Chapter Definitions
As used in this chapter, unless the context otherwise requires: “Authority” or “public building authority” means any public corporation organized pursuant to this chapter; “Bonds” or “revenue bonds” means bonds, notes, interim certificates or other obligations of an authority issued pursuant to this chapter, or pursuant to any other law, as supplemented by, or in […]
§ 12-10-104. Application to Governing Body for Approval of Incorporation
Whenever any number of natural persons, not less than three (3), each of whom shall be a duly qualified elector of the county or of the incorporated city or town or each of whom shall be a current customer of the utility district, shall file with the governing body thereof an application in writing seeking […]
§ 12-10-105. Certificate of Incorporation — Contents
The certificate of incorporation shall set forth: The names and residences of the applicants together with a recital that each of them is an elector of the county or of the incorporated city or town or is a customer of the utility district. The name of the authority which shall be public building authority of […]
§ 12-10-106. Filing and Approval of Certificate of Incorporation
When executed and acknowledged in conformity with § 12-10-105, the certificate of incorporation shall be filed with the secretary of state. The secretary of state shall thereupon examine the certificate of incorporation and, if the secretary of state finds that the recitals contained therein are correct, that the requirements of § 12-10-104 have been complied […]