§ 7-65-115. Exemption From Taxation
The authority is hereby declared to be performing a public function in behalf of the municipality with respect to which the authority is organized and to be a public instrumentality of such municipality. Accordingly, the authority and all properties at any time owned by the authority and the income from the properties, and all bonds […]
§ 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 […]
§ 7-65-107. Amendment of Certificate of Incorporation
The certificate of incorporation may at any time and from time to time be amended so as to make changes in the certificate of incorporation and make and add any provisions to the certificate of incorporation that might have been included in the certificate of incorporation in the first instance. An amendment to the certificate […]
§ 7-65-108. Board of Directors
The authority shall have a board of directors in which all powers of the authority shall be vested and that shall consist of any number of directors, no fewer than five (5), a majority of whom shall be duly qualified electors of and taxpayers in the municipality. The directors shall serve as such without compensation, […]
§ 7-65-109. Purpose and Powers of Authority
Authorities are authorized to be created to conduct necessary research activity; to maintain current data leading to efficient operation of off-street parking facilities, for the fulfillment of public needs for parking and the relation of parking to public transit and other public and private transportation modes, and to pedestrian ways; to promote safe and efficient […]
§ 7-65-110. Operation of Projects
The authority, while operating any or all of its projects, has the power to make and enforce rules and regulations governing the use of any project and to fix, alter, charge and collect rents and other charges for the use of its facilities, at reasonable rates, to be determined exclusively by its board of directors, […]
§ 7-65-111. Bonds and Notes
Except as otherwise expressly provided in this chapter, all bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing, operation or sale by the authority of its projects or any thereof or from income received by the authority from its operation of other parking facilities or […]
§ 7-65-112. Security for Bonds
The principal of and interest on any bonds issued by the authority shall be secured by a pledge of the revenues and receipts out of which the principal and interest shall be made payable, and may be secured by a mortgage or deed of trust covering all or any part of the projects from which […]
§ 7-65-113. Pledge of On-Street Parking Revenues
Any authority operating a project financed from the proceeds of bonds issued pursuant to this chapter may pledge to the payment of the bonds, in addition to all other revenues, all or any portion of such moneys as may be received from on-street parking meters pursuant to an agreement with the municipality within which such […]
§ 7-65-101. Short Title
This chapter shall be known and may be cited as the “Parking Authority Act.”