Section 33-16-6 – Members, Officers and Directors; Records of Proceedings.
Section 33-16-6 Members, officers and directors; records of proceedings. The applicants named in the application and their respective successors in office shall constitute the members of the authority. The Governor shall be the president of the authority, the Lieutenant Governor shall be its vice-president, and the Director of Finance shall be its secretary. The State […]
Section 33-16-7 – Duties and Obligations Which May Be Undertaken.
Section 33-16-7 Duties and obligations which may be undertaken. The authority may undertake and discharge the duties and obligations set forth in this section as follows: In connection with the waterway, the authority may do or cause to be done the following: (1) Construct, improve, maintain and operate all highway and railroad bridges necessitated by […]
Section 33-16-8 – Powers Enumerated.
Section 33-16-8 Powers enumerated. The authority shall have the following powers: (1) To have succession by its corporate name without time limit; (2) To bring civil actions and have civil actions brought against it and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties; (3) To have […]
Section 33-16-9 – Contracts.
Section 33-16-9 Contracts. The aggregate monetary obligation that the authority may incur in connection with its contracts (other than contracts of the type described in the next succeeding paragraph) shall not at any time exceed the sum of: (1) Any uncommitted or unencumbered moneys then appropriated to the authority by the Legislature; and (2) Any […]
Section 33-16-10 – Delegation of Duties, etc., to Other Public Corporations, Agencies and Departments of State.
Section 33-16-10 Delegation of duties, etc., to other public corporations, agencies and departments of state. Any duties and obligations of the authority which shall be delegated by the board of directors of the authority to the Highway Department, the State Docks Department or any other public corporation, agency or department of the state shall be […]
Section 33-16-11 – Construction, Maintenance, etc., of Terminals.
Section 33-16-11 Construction, maintenance, etc., of terminals. In connection with the navigational use of the waterway, the authority is hereby authorized to construct, improve, maintain and operate suitable and adequate river and canal terminals in accordance with plans approved by the Secretary of the Army of the United States and the Chief of Engineers of […]
Section 33-16-12 – Bonds – Generally.
Section 33-16-12 Bonds – Generally. There are hereby authorized to be issued bonds of the state in aggregate principal amount not exceeding $10,000,000.00. The bonds hereby authorized shall be general obligations of the state, and the full faith and credit of the state are hereby irrevocably pledged for the prompt and faithful payment of the […]
Section 33-16-13 – Bonds – Disposition of Proceeds; Investments.
Section 33-16-13 Bonds – Disposition of proceeds; investments. The authority shall pay out of the proceeds from the sale of any of the bonds all expenses which the board of directors may deem necessary or advantageous in connection with the sale and issuance of the bonds. The proceeds from the sale of all bonds, other […]
Section 33-16-14 – Bonds – State Treasurer to Pay Principal and Interest of Bonds; Records.
Section 33-16-14 Bonds – State Treasurer to pay principal and interest of bonds; records. Out of any funds in the State Treasury that may be available for such purpose, the State Treasurer is authorized and directed to pay the principal of and interest on the bonds at the respective maturities of the said principal and […]
Section 33-16-15 – Dissolution of Authority.
Section 33-16-15 Dissolution of authority. At any time when no duties or obligations of the authority shall remain to be discharged, or when all duties and obligations remaining to be discharged have been effectively delegated to public corporations, agencies and departments of the state in accordance with Section 33-16-10, the authority may be dissolved upon […]