Section 33-2-36 – Department May Contract Current Indebtedness.
Section 33-2-36 Department may contract current indebtedness. In any operations conducted under this article the department may contract such current indebtedness as is necessarily incident to the progress of the work in accordance with the terms of this article. (Acts 1959, 2nd Ex. Sess., No. 98, p. 288, §7.)
Section 33-2-37 – General Provisions Relative to Additional Inland Waterways Improvement Bonds.
Section 33-2-37 General provisions relative to additional inland waterways improvement bonds. In order to provide funds for the purposes of this article, there are hereby authorized to be sold and issued bonds of the state not exceeding $3,500,000.00 in aggregate principal amount, under and subject to the provisions hereinafter set forth. The bonds shall be […]
Section 33-2-38 – Requirements for Sale of Bonds.
Section 33-2-38 Requirements for sale of bonds. The bonds must be sold only at public sale, either on sealed bids or at public auction, to the bidder whose bid reflects the lowest net interest cost to the state for the bonds being sold, computed to their respective maturities; provided, that if no bid acceptable to […]
Section 33-2-39 – Disposition of Proceeds From Sale of Bonds.
Section 33-2-39 Disposition of proceeds from sale of bonds. The proceeds from the sale of any of the bonds shall be paid into the state treasury and kept by the State Treasurer in a separate account and paid over to the secretary-treasurer of the department from time to time in such amounts as shall be […]
Section 33-2-40 – Application of Revenues From Dock Facilities.
Section 33-2-40 Application of revenues from dock facilities. The proceeds derived from the operation of each unit of development acquired or constructed pursuant to the provisions of this article shall be applied for the following purposes in the following order: (1) Payment of the expenses of operating dock facilities acquired, constructed or operated pursuant to […]