§ 7-90-111. Donations of Services and Property — Reversion of Property to Donor
For the purpose of aiding and cooperating with an authority, the municipality authorizing such authority may assign or loan any of its employees, including its engineering staff and facilities, and may provide necessary office space, equipment, and other facilities for the use of such authority, as the governing body of such municipality shall approve. The […]
§ 7-90-112. Bonds of Authority
The authority shall have power and is authorized to issue its bonds in order to finance: The costs of any project; The payment of the costs of issuance of such bonds, including underwriter’s discount, financial advisory fee, preparation of the definitive bonds, preparation of all public offering and marketing materials, advertising, credit enhancement, and legal, […]
§ 7-90-113. Exemption From Taxation
The authority is hereby declared to be performing a public function in behalf of the municipality with respect to which it is organized and to be a public instrumentality of such municipality. Accordingly, the authority and all properties at any time owned by it and the income from the properties and all bonds issued by […]
§ 7-90-114. Nonliability of Municipality — Pledge by Municipality of Full Faith and Credit and Unlimited Taxing Power
Except to the extent of any revenues that may be specifically allocated, transferred, contributed or pledged by a municipality in accordance with this chapter and except as provided in subsection (b), no municipality shall in any event be liable for the payment of the principal of or interest on any bonds of the authority or […]
§ 7-90-115. Powers of Municipalities to Aid or Assist Authorities
Any municipality is authorized to aid or otherwise provide assistance to an authority created pursuant to this chapter by such municipality, including entering into leases of projects, or parts of projects with an authority, for such term or terms and upon such conditions as may be determined by the governing body of such municipality, notwithstanding […]
§ 7-90-116. Execution of Leases, Contracts, Deeds, Instruments in Writing
Except as otherwise provided in this chapter, all leases, contracts, deeds of conveyance, or instruments in writing executed by the authority, shall be executed in the name of the authority by the chair or secretary of the authority, or by such other officers as the board of directors, by resolution, may direct, and the seal […]
§ 7-90-107. Amendments to Charter
The charter may, at any time and from time to time, be amended in a manner not inconsistent with § 7-90-105. Any such amendment shall be adopted in the manner set out in subsection (b). The board of directors of the authority shall file with the governing body of the municipality with which the application […]
§ 7-90-108. Board of Directors
The authority shall have a board of directors in which all corporate powers of the authority shall be vested. The board shall consist of no fewer than seven (7) directors, all of whom shall be duly qualified voters of the municipality. A director shall serve without compensation, except that the authority may reimburse a director […]
§ 7-89-121. Acquisition and Transfer of Project Sites
Any municipality may acquire a project site by gift, purchase or lease, or exercise of the power of eminent domain, and may transfer any project site to an authority by sale, lease or gift. The transfer may be authorized by a resolution of the governing body of the municipality without submission of the question to […]
§ 7-89-122. Investment of Funds
Funds of the authority are authorized to be invested in the following: Direct obligations of the United States government or any of its agencies; Obligations guaranteed as to principal and interest by the United States government or any of its agencies; Certificates of deposit and other evidences of deposit at state and federally chartered banks, […]