§ 64-5-106. Time and Place of Meetings — Compensation of Board
The board shall set a regular time and place for meetings and establish rules of order and particularly rules for calling a special meeting of the board. The members of the board shall serve without compensation, except that they shall be reimbursed for actual traveling expenses and other necessary expenses incurred in the performance of […]
§ 64-5-108. Powers, Functions and Duties
The authority has the power, function and duty to: Have perpetual succession in the corporate name; Sue and be sued in the corporate name; Adopt, use and alter a corporate seal, which shall be judicially noticed; Enter into such contracts and cooperative agreements with federal, state and local governments, and agencies thereof, with private individuals, […]
§ 64-5-109. Public Works Projects Authorized
The authority is authorized and empowered to construct and/or operate and maintain any public works project within the region. No such project shall be constructed without the authority first having obtained the consent of the county or municipality within whose jurisdiction the project is located. For this purpose, “public works project” includes any one (1) […]
§ 64-4-105. Powers and Duties of Board
The port authority board of commissioners has the power and is hereby authorized to: Acquire, construct, purchase, operate, maintain, replace, repair, rebuild, extend and improve, within the boundaries of Decatur, Hardin, Perry and Wayne counties, upon first obtaining express permission and authority from the governing body of such county or municipality wherein such facilities are […]
§ 64-4-106. Transfer to Authority of Interests in Land
Any one (1) of the participating counties, Decatur, Hardin, Perry or Wayne, upon the written recommendation of the port authority commissioners, may acquire any interest in land within the boundaries of the county by gift, purchase or lease and may transfer the interest to the authority by sale, lease or gift. The transfer may be […]
§ 64-4-107. Facilities Free From Outside Control — Tax-Exempt Status — Payments to Authority in Lieu of Ad Valorem Taxes
The participating counties, Decatur, Hardin, Perry and Wayne, and the board of commissioners are not required to obtain any certificate of convenience or necessity, franchise, license, permit or other authorization from any bureau, board, commission or other like instrumentality of the state or any political subdivision thereof, in order to acquire, construct, purchase, operate or […]
§ 64-4-108. Powers of Participating Counties
The county legislative bodies of Decatur, Hardin, Perry and Wayne counties, individually or together, have all necessary powers in order to further the purposes of this chapter. The participating counties are authorized to appropriate to the port authority from their general funds, or such other funds as may be unappropriated, in furtherance of the powers […]
§ 64-4-109. Payment of Preliminary Expenses by Participating Counties — Repayment
A share of all expenses actually incurred by the board of commissioners in the making of surveys, estimates of cost and of revenue, employment of engineers, attorneys or other employees, the giving of notices, taking of options, selling of bonds and all other preliminary expenses of whatever nature that the board deems necessary in connection […]
§ 64-4-110. Bonds
The port authority has the power to issue negotiable bonds in order to accomplish any of the purposes authorized by this chapter in any of the following manners: Upon resolution of the board of commissioners, and in the manner provided by this chapter, the port authority may issue bonds of the port authority without the […]
§ 64-4-111. Bondholders’ Rights in Event of Default
The county legislative body or the board of commissioners authorizing and issuing bonds has the power, by resolution, to confer upon any holder or holders of a specified amount or percentage of bonds, including a trustee or trustees, for such holders, the rights, in the event of an “event of default,” as defined in such […]