§ 7-65-122. Project Sites
Any municipality may acquire a project site by gift, purchase, eminent domain or lease, and may transfer any project site to an authority by sale, lease or gift. Such transfer may be authorized by resolution of the governing body of the municipality without submission of the question to the voters, and without regard to the […]
§ 7-65-123. Powers Additional to Those Granted by Other Laws
The powers conferred by this chapter shall be in addition and supplementary to, and the limitations in this chapter shall not affect the powers conferred by, any other general, special or local law. Projects may be acquired, purchased, constructed, reconstructed, improved, bettered and extended and bonds may be issued under this chapter for such purposes, […]
§ 7-65-124. Applicability of Chapter
This chapter shall only apply to counties having a population of more than fifty thousand (50,000), according to the 1970 federal census or any subsequent federal census. This chapter shall not apply to counties having a metropolitan form of government. This chapter shall apply to those counties having a population of six hundred thousand (600,000) […]
§ 7-65-116. Nonliability of Municipality
The municipality shall not, in any event, be liable for the payment of 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 that may be undertaken by the authority, and none of the bonds of the authority or any […]
§ 7-65-117. Municipal Leases and Contracts With Authorities — Tax
Any municipality is authorized to enter into such leases or projects, or parts of projects, from an authority, for such term or terms and upon such conditions as may be determined by the governing body of such municipality, notwithstanding and without regard to the restrictions, prohibitions, or requirements of any other law, whether public or […]
§ 7-65-118. Nonprofit Corporation — Disposition of Earnings
The authority shall be a nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that in the event the board of directors of the authority shall determine that sufficient provision has been made for the full payment […]
§ 7-65-119. Completion of Corporate Purpose — Dissolution
Whenever the board of directors of the authority, by resolution, determines that there has been substantial compliance with the purposes for which the authority was formed, and all bonds theretofore issued and all obligations theretofore incurred by the authority have been fully paid, then the members of the board of directors shall thereupon execute and […]
§ 7-65-120. Joint Operation
The powers conferred upon authorities created under this chapter may be exercised by two (2) or more such authorities acting jointly. Two (2) or more municipalities may, by acting jointly, incorporate an authority to effectuate the purposes of this chapter. When two (2) or more municipalities incorporate such an authority, each and every requisite pertaining […]
§ 7-65-121. Law Complete in Itself
No proceedings, notice, filing or approval shall be required for the organization of the authority or the issuance of any bonds or any instrument as security for the bonds, except as provided in this chapter, notwithstanding any other law to the contrary; provided, that nothing in this chapter shall be construed to deprive the state […]
§ 7-65-106. Filing With and Approval by Secretary of State — Corporate Existence
When executed and acknowledged in conformity with § 7-65-105, the certificate of incorporation shall be filed with the secretary of state. The secretary of state shall then examine the certificate of incorporation. If the secretary of state finds that the recitals contained in the certificate of incorporation are correct, that there has been compliance with […]