§ 9-13-301. Short Title
This part shall be known and may be cited as the “Financially Distressed Municipalities, Counties, Utility Districts and Education Agencies Act of 1993.”
§ 9-13-101. Authority to Lend Appropriated Funds
The state board of equalization, with the approval of the funding board, is hereby authorized to lend state funds appropriated and made available for that purpose to municipalities and counties of the state upon terms and conditions hereinafter prescribed.
§ 9-13-102. Reduction of Assessment of Utility Property as Prerequisite for Loan
Such loans shall be made only to such municipalities or counties as can be shown to have incurred unanticipated losses of revenue necessitated or prompted by decrees or orders of competent courts reducing the assessments of railroad or public utility properties which are centrally assessed by the comptroller of the treasury and the state board […]
§ 9-13-103. Application for Loan
Applications for such loans shall be made only in writing and through the chief executive officer of the county or municipality so applying upon the duly enacted resolution of the governing body of such county or municipality. The application shall be addressed to the state board of equalization and shall set forth such information as […]
§ 9-13-104. Determination of Necessity for Loan
The state board of equalization shall consider the loan application and conduct such investigation of the fiscal condition of the applicant county or municipality as it may deem proper to determine the necessity for such financial assistance. To this end, the board is empowered to avail itself of the services of the comptroller of the […]
§ 9-13-105. Certification to Funding Board
If following its investigation and consideration of the application the board of equalization shall deem the applicant municipality or county to require such financial assistance, it shall certify such finding in writing to the funding board for its approval.
§ 9-13-106. Consideration by Funding Board — Manner of Making Loan — Repayment — Interest
The funding board shall independently consider any application for loan assistance as herein provided, and, on the concurrence of two-thirds (2/3) of its membership, authorize the board of equalization to lend to a municipality or county an amount not to exceed eighty percent (80%) of the local revenues shown to be lost as a result […]
§ 9-13-107. Default — Withholding State Funds
In the event of default in the payment of any installment upon any loan made pursuant to this part, the board of equalization shall give notice of such default to the commissioner of finance and administration and the state treasurer. The commissioner shall thereupon withhold any distribution to the municipality or county of any funds […]
§ 9-13-201. Short Title
This part shall be known and may be cited as the “Emergency Financial Aid to Local Government Law of 1995.”
§ 9-13-202. Legislative Intent
The general assembly finds and declares that it is in the best interests of the citizens of this state that local governments be fiscally responsible and utilize sound financial management principles in serving their citizens. The general assembly notes that there are certain conditions and circumstances in which local governments must have emergency technical and […]