§ 31-35-406. Tax Exemption
The bonds and the income therefrom are exempt from taxation, except inheritance, estate, and transfer taxes. Source: L. 75: Entire title R&RE, p. 1256, § 1, effective July 1. Editor’s note: This section is similar to former § 31-35-406 as it existed prior to 1975.
§ 31-35-407. Covenants in Bond Ordinance
Any ordinance or resolution authorizing the issuance of bonds under this part 4 or trust indenture or other instrument appertaining thereto to finance in whole or in part the acquisition, construction, reconstruction, improvement, betterment, or extension of water facilities or sewerage facilities or both may contain covenants as to: The rates, fees, tolls, or charges […]
§ 31-35-408. No Municipal Liability on Bonds
Revenue bonds issued under this part 4 shall not constitute an indebtedness of the municipality within the meaning of any constitutional or statutory limitations. Each bond issued under this part 4 shall recite in substance that said bond, including interest thereon, is payable solely from the revenues pledged to the payment thereof and that said […]
§ 31-35-409. Remedies of Bondholders
Subject to any contractual limitations binding upon the holders of any issue of bonds or the trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of bonds or trustee therefor has the right and power, for the equal […]
§ 31-35-410. Construction of Part 4
The powers conferred by this part 4 are in addition and supplemental to and not in substitution for, and the limitations imposed by this part 4 shall not affect, the powers conferred by any other law. Bonds may be issued under this part 4 without regard to the provisions of any other law. The water […]
§ 31-35-411. Pledge of Other Utility Revenues
Any municipality having surplus and unpledged revenues of any municipal utility has the power to pledge such revenues for and deposit them in the fund created to pay the interest on and principal of revenue bonds issued pursuant to this part 4. Source: L. 75: Entire title R&RE, p. 1258, § 1, effective July 1. […]
§ 31-32-104. Majority Vote Required for Passage
Every such ordinance shall require for its passage or adoption the concurrence of a majority of all the members of the governing body of the city or town. Source: L. 75: Entire title R&RE, p. 1244, § 1, effective July 1. L. 81: Entire section amended, p. 1496, § 11, effective May 28. Editor’s note: […]
§ 31-35-302. Petition – Plans – Contract
For the purpose of carrying the provisions of this section and section 31-35-301 into effect, the owners of four blocks or more situated in any city or town in this state owning its own municipal water plant which has not been supplied with water mains shall present a petition to the governing body, offering therein […]
§ 31-32-105. Cities or Towns May Erect Utilities
Nothing in this part 1 shall be construed as in any way modifying or restricting the right of cities or towns to purchase or erect electric light works, heating and cooling works and distribution systems for the distribution of heat and cooling obtained from geothermal resources, solar or wind energy, hydroelectric or renewable biomass resources, […]
§ 31-32-201. Financing Acquisition of Utilities
In any municipality possessed of authority to acquire public utilities operating under general law or under article XX of the state constitution, unless otherwise provided by the charter of such municipality, no public utility shall be acquired until the plan for such acquisition has been adopted by ordinance and such ordinance has been approved at […]