§ 4-31-1009. Limits on Indebtedness
Local government units may enter into loan agreements under this part notwithstanding and without regard to any limit on indebtedness provided by law.
§ 4-31-1010. Resolutions
All action required or authorized to be taken under this part by the governing body of any local government unit may be by resolution, which resolution may be adopted at the meeting of the governing body at which such resolution is introduced, and shall take effect immediately upon its adoption.
§ 4-31-1011. Provisions Supplemental
This part shall be in addition to and supplemental to any other law providing for the financing of education projects by local government units. Notwithstanding any law to the contrary, no proceedings by a local government unit or local education agency shall be required for loan agreements hereunder, except as provided by this part. No […]
§ 4-31-1012. Pledges
Any pledge made by the authority pursuant to this chapter, or by a local government unit pursuant to a loan program agreement, or by a local education agency in connection therewith shall be valid and binding from the time when the pledge is made, the moneys or property so pledged and thereafter received by the […]
§ 4-31-1101. Part Definitions — Eligibility — Purposes — Application and Review Procedure
For the purposes of this part, the following definitions shall apply: “Authority”, “construction”, and “education project” as defined in § 4-31-1003; “Available local capital outlay funds” means, with respect to any LGU or LEA, the state share of the capital outlay portion of the nonclassroom component of the BEP funding as set forth in the […]
§ 4-31-1102. Program Provisions
Any program established by the authority pursuant to this part may include such provisions as may be agreed upon by the parties and shall additionally include, among other things, in substance, the following: The structural requirements of the education debt issued by the LGU, including payment dates, maturity schedule, interest rates, and paying agent; The […]
§ 4-31-1103. Assignment or Pledge of Local Capital Outlay Funds as Security — Procedures
Each LGU issuing education debt, as well as any LEA for which education debt is issued, are authorized to assign or pledge for the further security of the education debt the available local capital outlay funds, whether such debt is issued pursuant to title 9, chapter 21, or title 49, chapter 3, and to assign […]
§ 4-31-1006. Levy and Collection of Tax to Pay for Loan
Whenever, and as often as, a local government unit enters into a loan agreement with the authority under this part, the governing body of such local government unit shall provide by resolution for the levy and collection of a tax upon all taxable property within the local government unit sufficient to pay when due all […]
§ 4-31-1007. Failure to Remit Funds
In the event any local government unit having entered into a loan agreement shall fail to remit funds in accordance with a loan agreement, the authority shall notify the commissioner of education who shall instruct the commissioner of finance and administration to deliver within five (5) days notice of such failure to the local government […]
§ 4-31-813. Applicability
This part shall be in addition and supplemental to any other law providing for financing by the association and shall not be deemed to amend or repeal any other law. No proceedings by the association shall be required for loan agreements hereunder, except as provided by this part, any law to the contrary notwithstanding. Any […]