§ 4-31-802. Legislative Findings and Declarations
The general assembly finds and declares that if a natural disaster, as defined herein, causes, in whole or in part, an insolvency resulting in covered claims in excess of the association’s capacity to pay from the assessments under § 56-12-107(a)(3), it is proper to authorize the authority to issue bonds to expedite the handling and […]
§ 4-31-704. Issuance and Sale of Bonds and Notes — Loans — Authorization
In addition to the powers otherwise granted by law, the authority has the power and is authorized to issue and sell bonds and notes, the proceeds of which may be used to make loans to any grantee for the construction or the refinancing of the construction of a facility pursuant to a loan agreement between […]
§ 4-31-705. Repayment of Loans
The authority shall establish a repayment schedule to be made by a grantee under a loan agreement. Such repayments shall be in such amounts as will be at least sufficient, together with other funds available therefor, to pay the principal of, and interest on, authority bonds and notes issued for the purpose of providing loans […]
§ 4-31-706. Issuance of Bonds or Notes — Limitations — Deficiency
Bonds or notes issued pursuant to this part shall not be issued and sold as part of an issue of bonds or notes of the authority issued pursuant to any other provision of this chapter or law. The authority shall not issue bonds and notes under this part in an aggregate principal amount at any […]
§ 4-31-707. Administration of Loans — Loan Agreement — Security
The authority shall administer loans made under this part. In so doing, the authority may adopt rules and regulations necessary for the effective administration of this part. The loan agreements into which the authority enters with grantees may include such provisions as may be agreed upon by the authority and the grantees and shall include […]
§ 4-31-708. Notice of Failure to Remit Funds — Withholding of Funds
In the event any grantee having entered into a loan agreement shall fail to remit funds in accordance with the annual repayment schedule established by the authority, the commissioner of finance and administration shall deliver by certified mail or other means of verified delivery written notice of such failure to the grantee within five (5) […]
§ 4-31-609. Approval of Agreements — Audits
All loan agreements entered into pursuant to this part shall be subject to approval by the attorney general and reporter as to the form and by the commissioner of finance and administration, and all payments made pursuant to such loan agreement shall be as to funding approved by the authority, and such payments shall be […]
§ 4-31-610. Bonds and Notes — Issuance and Terms — Security — Defaults
The bonds and notes for any project shall be authorized by resolution of the authority, may be in one (1) or more series, shall bear such date or dates, and shall mature at such time or times, in the case of any such note or any renewals thereof, not exceeding eight (8) years from the […]
§ 4-31-611. Airport Authority Fund
The authority is hereby authorized to establish in the state treasury a separate special trust fund of the authority for each separate issue of bonds or notes that is similarly secured to be known as the “airport authority fund,” and to bear such additional designation as the authority deems appropriate to properly identify each fund. […]
§ 4-31-612. Enforcement of Agreements
The authority has the right, in addition to all other rights, by mandamus or other suit, action or proceeding in any court of competent jurisdiction, to require the airport authority or municipal airport and the governing body and any proper officer, agent or employee of the airport authority or municipal airport to carry out any […]