§ 24-115-107. General Powers of Corporation
In addition to any other powers specifically granted to the corporation in this article, the corporation has the following powers: To have perpetual existence and succession as a body politic and corporate; To adopt, amend, or repeal bylaws for the regulation of its affairs and the conduct of its business, consistent with the provisions of […]
§ 24-115-108. Corporate Fiscal Year – Account of Activities and Receipts for Expenditures – Report – Audit
The fiscal and budget year for the corporation shall commence on July 1 and end on June 30 of each year. The corporation shall keep an accurate account of all its activities and of all its receipts and expenditures and shall submit an annual report that sets forth a complete and detailed operating and financial […]
§ 24-115-109. Limitation on Power of Corporation to Declare Bankruptcy
Notwithstanding any other provision of law, the corporation is not authorized to be, and no public officer, organization, entity, or other person shall authorize the corporation to be, a debtor in a case under the United States bankruptcy code, title 11 of the United States Code, to make an assignment for the benefit of creditors […]
§ 24-115-110. Critical Needs Notes – Issuance Schedule – Distribution of Note Proceeds
Except as otherwise provided in paragraphs (b) and (c) of this subsection (1), if the general assembly passes and the governor signs a joint resolution that requires the submission of a ballot issue to voters statewide that seeks authorization for the state to incur multiple-fiscal year financial obligations by issuing critical needs notes and the […]
§ 24-115-111. Critical Needs Fund – Creation – Appropriations to Fund – Repayment of Notes From Fund
The critical needs fund is hereby created in the state treasury. The fund shall consist of moneys appropriated to the fund by the general assembly and all interest and income earned on the deposit and investment of moneys in the fund. The board or the executive director may expend moneys in the fund only to […]
§ 24-115-112. Notes Legal Investments
All banks, trust companies, savings and loan associations, insurance companies, executors, administrators, guardians, trustees, and other fiduciaries may legally invest any moneys within their control in any notes issued in accordance with this article. Public entities, as defined in section 24-75-601 (1), may invest public funds in notes only if the notes satisfy the investment […]
§ 24-115-113. Exemption From Taxation
Except as otherwise provided in this section, the income from notes issued pursuant to this article is exempt from all taxation and assessments in the state. In the certificate, indenture of trust, or other instrument authorizing the issuance of notes, the board or the executive director may waive the exemption from federal or state income […]
§ 24-115-114. No Action Maintainable
An action or proceeding at law or in equity to review any act or proceeding or to question the validity or enjoin the performance of any act or proceeding or the issuance of any notes or for any other relief against or from any act or proceeding done under this article, whether based upon irregularities […]
§ 24-114-102. Retaliation Prohibited
Except as provided in subsection (2) of this section, no appointing authority or supervisor of a private enterprise under contract with a state agency shall initiate or administer any disciplinary action against any employee on account of the employee’s disclosure of information concerning said private enterprise. This section shall not apply to: An employee who […]
§ 24-115-115. Annual Reports
No later than January 15 of any year in which notes issued pursuant to this article are outstanding or any moneys are in the critical needs fund, each issuing authority shall submit a report to the members of the joint budget committee of the general assembly and the members of the legislative audit committee of […]