§ 68-221-507. Additional Agreements or Securities Required for Issuance of Bonds
The authority has the right to enter into such further agreements with a municipality and require such further guarantees or securities as it may see fit prior to, or simultaneously with, the issuance of bonds, or to refuse to issue such bonds until such agreements or securities, in any form which the authority may elect, […]
§ 68-221-508. Approval of Loan Agreements — Payments
All loan agreements entered into pursuant to this part shall be subject to approval by the commissioner of finance and administration and, as to form, by the attorney general and reporter. All payments by the state pursuant to such agreements shall be made upon warrant by the commissioner of finance and administration on vouchers approved […]
§ 68-221-509. Allocation of Loan Funds — Criteria
In allocating loan funds to municipalities, the department shall give consideration to, and apply, the following standards and criteria: The need and desirability for water to be supplied by the proposed waterworks construction; The need for upgrading the quality of water of an existing waterworks; The ability of the municipality to secure borrowed money from […]
§ 68-221-510. Payments to State — Water Service Fee — Taxation
The authority shall establish the monthly payment due from the municipality to the state necessary for the municipality to fund the project. The municipality shall establish a water service fee and/or such ad valorem taxes as necessary to provide funds sufficient to pay the monthly payments established, plus the costs of operation and maintenance of […]
§ 68-221-511. Payments Made to Authority — Special Trust Funds
Each municipality having entered into a loan agreement shall remit to the authority such amounts and at such times as shown in the amortization schedule established by the authority. Such funds shall be placed in a special trust fund of the authority created to provide for the payment of principal of, and interest on, bonds […]
§ 68-221-512. Tax Levy to Meet Payments
In the event the revenues of a waterworks project are insufficient to meet the payments as established by the authority, any county, metropolitan government, incorporated town or city may levy a tax on property sufficient to make such payments, which shall be in addition to all other taxes authorized or limited by law.
§ 68-221-513. Failure of Municipality to Comply With Payment Schedule — Withholding of State Funds — Rate Increases
In the event any municipality, having entered into a loan agreement, shall fail to remit funds in accordance with the amortization schedule established by the authority, the commissioner of finance and administration shall deliver by certified mail a written notice of such failure to the municipality within five (5) days of the failure. In the […]
§ 68-221-503. Authorization for Loans to Municipalities for Waterworks — Funding — Conditions of Approval and Repayment — Loan Eligibility of Municipalities Not Receiving State-Shared Taxes
The state is authorized to make loans to any municipality for the construction of waterworks. Such loans shall be made from the proceeds of bonds or notes issued by the authority for the purpose of making such loans. The authority shall establish the repayment schedule for the repayment of the loan, and the loan agreement, […]
§ 68-221-413. Violations — Penalty
Any person violating any of this part and rules and regulations promulgated pursuant to this part commits a Class C misdemeanor. It is the duty of the district attorney general in whose district a violation occurs to assist the commissioner in prosecuting such violations.
§ 68-221-414. Proof of Access to Sewage System Prior to Construction — Rules and Regulations
Any person who intends to construct or locate a house or establishment, mobile or permanent, shall furnish evidence to the deputy electrical inspector under contract with the department of commerce and insurance, that: The house or establishment is served by a public sewerage system; or The person has applied for a permit for a subsurface […]