§ 9-21-1016. Recourse Restricted to Revenues
No recourse shall be had for the payment of the revenue refunding bonds, or interest thereon, or any part thereof, against the general funds of any local government, nor shall the credit or taxing power of any local government be deemed to be pledged to the payment of the revenue refunding bonds. The revenue refunding […]
§ 9-21-1017. Remedies of Revenue Refunding Bondholders
Any holder of revenue refunding bonds issued pursuant to this part and part 1 of this chapter shall have all rights provided to the holders of revenue bonds in §§ 9-21-310, 9-21-311 and 9-21-316. If a receiver is appointed for an enterprise pursuant to those provisions, then the powers and duties of the receiver shall […]
§ 9-21-1006. Terms of Revenue Refunding Bonds — Interest Rate Agreements
The revenue refunding bonds may be sold in one (1) or more series, may bear such date or dates, shall mature at such time or times not exceeding forty (40) years from their respective dates, may bear interest at a zero (0) rate or at such other rate or rates (which may vary from time […]
§ 9-21-1007. Limitation on Maturity of Bonds to Be Refunded
Unless the outstanding obligations are retired at the time of delivery of the revenue refunding bonds, then the revenue refunding bonds shall not be issued to refund the outstanding obligations unless the outstanding obligations shall mature by their terms or shall be subject to redemption and be called for redemption within ten (10) years from […]
§ 9-21-1008. Sale or Exchange of Revenue Refunding Bonds — Agreements to Sell
Any local government, proposing to sell revenue refunding bonds for any authorized purpose under this part and part 1 of this chapter, is authorized to sell the revenue refunding bonds either at a competitive public sale or at a private negotiated sale, as the governing body of the local government may determine. If the governing […]
§ 9-21-1009. Installment Sales or Exchanges
Revenue refunding bonds may be sold or exchanged in installments at different times or an entire issue or series may be sold or exchanged at one (1) time. Any issue or series of revenue refunding bonds may be exchanged in part or sold in part in installments at different times or at one (1) time. […]
§ 9-21-1010. Notice of Refunding
If, at the time of delivery of the revenue refunding bonds, the obligations to be refunded will not be retired or a valid and timely notice of redemption of the outstanding bonds is not given in accordance with the resolution, indenture or other instrument governing the redemption of the outstanding obligations, then, prior to the […]
§ 9-21-1011. Notice of Redemption
If any of the obligations to be refunded are to be called for redemption, the governing body shall cause the notice of redemption to be given in the manner and at the time required by the resolution or ordinance authorizing the outstanding obligations.
§ 9-21-1012. Application of Proceeds of Sale of Revenue Refunding Bonds
The principal proceeds from the sale of any revenue refunding bonds shall be applied only as follows, either to the: Immediate payment and retirement of the obligations being refunded; or Extent not required for the immediate payment of the outstanding obligations being refunded, the proceeds of the revenue refunding bonds shall be deposited in escrow […]
§ 9-21-1013. Powers to Secure and to Covenant as to Revenue Refunding Bonds
In order to secure the payment of the principal of and interest on revenue refunding bonds issued pursuant to this part and part 1 of this chapter, and the payment of the obligations of any local government under any interest rate agreement authorized by this part, including its obligation for termination or other non-periodic payments, […]