Section 45-49A-64.04 – Procedure to Incorporate; Contents and Execution of Certificate of Incorporation.
Section 45-49A-64.04 Procedure to incorporate; contents and execution of certificate of incorporation. (a) Within 40 days following the adoption of an authorizing resolution by the governing body, the applicants shall proceed to incorporate an authority by filing for record in the office of the judge of probate of the county in which the municipality is […]
Section 45-49A-64.05 – Amendments to Certificate of Incorporation.
Section 45-49A-64.05 Amendments to certificate of incorporation. (a) The certificate of incorporation of any authority incorporated under this part may at any time and from time to time be amended in the manner provided in this section. The board of directors of the authority shall first adopt a resolution proposing an amendment to the certificate […]
Section 45-49A-64.06 – Board of Directors.
Section 45-49A-64.06 Board of directors. (a) Each authority shall be governed by a board of directors. All powers of the authority shall be exercised by the board pursuant to its authorization. The board shall consist of six directors. Each director shall be elected by the governing body of the authorizing municipality. The initial term of […]
Section 45-49A-64.07 – Powers of Authority.
Section 45-49A-64.07 Powers of authority. The authority shall have 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 perpetual, subject to Section 45-49A-64.19) specified in its certificate of incorporation. (2) […]
Section 45-49A-64.08 – Rates, Fees, and Charges.
Section 45-49A-64.08 Rates, fees, and charges. Rates, fees, and charges for public transportation service rendered by the authority from any of its transit systems shall be fixed and from time to time revised as at all times to provide funds that, when added to all other revenues (including tax proceeds) anticipated to be received by […]
Section 45-49A-64.09 – Bonds of Authority.
Section 45-49A-64.09 Bonds of authority. (a) All bonds issued by the authority shall be signed by the chair of its board or other chief executive officer and attested by its secretary, and the seal of the authority shall be affixed thereto, and any interest coupons applicable to the bonds of the authority shall be signed […]
Section 45-49A-64.11 – Statutory Mortgage Lien.
Section 45-49A-64.11 Statutory mortgage lien. Any resolution of the board or trust indenture under which bonds may be issued pursuant to this part may contain provisions creating a statutory mortgage lien, in favor of the holders of such bonds and of the interest coupons applicable thereto, on the transit systems, or any thereof (including any […]
Section 45-49A-64.12 – Proceeds From Sale of Bonds.
Section 45-49A-64.12 Proceeds from sale of bonds. 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 and any costs and expenses incidental thereto. Such costs and expenses may include, but shall not be limited to, all […]
Section 45-49A-64.13 – Cooperation; Aid From Other Public Bodies.
Section 45-49A-64.13 Cooperation; aid from other public bodies. For the purpose of securing public transportation or aiding or cooperating with the authority in the planning, development, undertaking, construction, acquisition, extension, improvement, operation, or protection of transit systems, any county, municipality, or other political subdivision, public corporation, agency, or instrumentality of this state, upon such terms […]
Section 45-49A-64 – Purpose; Legislative Findings.
Section 45-49A-64 Purpose; legislative findings. (a) The Legislature has found and determined and does hereby declare that in municipalities having a population of not less than 175,000 nor more than 250,000 the following conditions exist: (1) That the constant growth of private vehicular traffic in such counties is placing excessive burdens upon the road systems […]