Section 45-41A-40.21 – Power of Eminent Domain.
Section 45-41A-40.21 Power of eminent domain. The authority is hereby granted the power of eminent domain and may exercise such power for the purpose of obtaining real property or any interest therein for any project it undertakes in the manner provided by law for the exercise of the power of eminent domain by municipalities. (Act […]
Section 45-41A-40.06 – Board of Directors.
Section 45-41A-40.06 Board of directors. Each authority shall be governed by a board of directors. All powers of the authority shall be exercised by the board or pursuant to its authorization. The board shall consist of seven directors who shall be elected by the governing body of the city for staggered terms as hereinafter provided. […]
Section 45-41A-40.22 – Loans, Sales, Grants, etc., of Money, Property, etc., to the Authority by Counties, Municipalities, Etc.
Section 45-41A-40.22 Loans, sales, grants, etc., of money, property, etc., to the authority by counties, municipalities, etc. For the purpose of effecting the revitalization and redevelopment of the central business district of the city, any county, municipality, or other political subdivision, public corporation, agency, or instrumentality of this state, upon such terms and with or […]
Section 45-41A-40.07 – Officers of the Authority.
Section 45-41A-40.07 Officers of the authority. The officers of the authority shall consist of a chair, vice chair, secretary, treasurer, and such other officers as the board shall deem necessary or appropriate. The offices of secretary and treasurer may, but need not, be held by the same person. The chair and vice chair of the […]
Section 45-41A-40.23 – Provisions Cumulative.
Section 45-41A-40.23 Provisions cumulative. The provisions of this part are cumulative and shall not be deemed to repeal existing laws, except to the extent such laws are clearly inconsistent with this part. (Act 84-415, p. 981, §24.)
Section 45-41A-40.08 – Powers of the Authority.
Section 45-41A-40.08 Powers of the authority. (a) The authority shall have all of the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time which may be perpetuity, subject to Section 45-41A-40.19, specified in its […]
Section 45-41A-40.09 – Bonds of the Authority.
Section 45-41A-40.09 Bonds of the authority. (a) Source of payment. All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the board of its projects or of any thereof as may be designated in the proceedings of the board under which the […]
Section 45-41A-40.10 – Proceeds From Sale of Bond.
Section 45-41A-40.10 Proceeds from sale of bond. All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized, including, but without limitation to, the use of bond proceeds to establish reserve funds as security for the payment of […]
Section 45-41A-40.11 – Refunding Bonds.
Section 45-41A-40.11 Refunding bonds. (a) Any bonds issued by the authority may from time to time be refunded by the issuance, by sale, or exchange, of refunding bonds payable from the same or different sources for the purpose of paying all or any part of the principal of the bonds to be refunded, any redemption […]
Section 45-41A-40.12 – Notice of Bond Resolution.
Section 45-41A-40.12 Notice of bond resolution. (a) Upon the adoption by the board of the authority of any resolution providing for the issuance of bonds, such authority, in its discretion, may cause to be published once a week for two consecutive weeks, in a newspaper published or having a general circulation in the city, a […]