30-A §5111. Bond issues
§5111. Bond issues The authority may issue bonds from time to time in its discretion to finance the undertaking of any urban renewal project under this chapter, including, but not limited to, the payment of principal and interest upon any advances for surveys and plans, and may issue refunding bonds for the payment or retirement […]
30-A §5112. Conveyance to Federal Government on default
§5112. Conveyance to Federal Government on default In any contract for financial assistance with the Federal Government, the authority may obligate itself to convey to the Federal Government possession of or title to the urban renewal project and land in the project to which the contract relates which is owned by the authority, upon the […]
30-A §5113. Bonds as legal investments
§5113. Bonds as legal investments All public officers, municipal corporations, political subdivisions and public bodies, all banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business; all insurance companies, insurance associations and other persons carrying on an insurance business; […]
30-A §5114. Exemption from taxes and execution
§5114. Exemption from taxes and execution 1. Property exempt from execution. All property, including funds of the authority, is exempt from levy and sale by virtue of an execution, and no execution or other judicial process may issue against the authority’s property nor may judgment against the authority be a charge or lien upon its […]
30-A §5115. Transfer, sale or lease of real property in urban renewal area
§5115. Transfer, sale or lease of real property in urban renewal area 1. Sale or lease of property. The authority, for the purpose of this chapter, may sell or lease for such sums as may be agreed upon all or any part of a renewal area to the redeveloper or, if the property is to […]
30-A §5116. Investment of funds; redemption of bonds
§5116. Investment of funds; redemption of bonds The authority may: [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] 1. Invest funds. Invest any funds held in […]
30-A §5117. Investigatory powers
§5117. Investigatory powers Acting through one or more trustees or other persons designated by the authority, examinations and investigations may be conducted to: [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, […]
30-A §5118. Cooperation by public bodies
§5118. Cooperation by public bodies For the purpose of aiding and cooperating in the planning, undertaking or carrying out of an urban renewal project, the municipality or any other public body, upon any terms that it may determine, with or without consideration, may: [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. […]
30-A §5119. Encouragement of private enterprise
§5119. Encouragement of private enterprise The authority, to the greatest extent it determines to be feasible in carrying out this chapter, shall afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise. The authority shall consider this objective […]
30-A §5120. Grant of funds by municipality
§5120. Grant of funds by municipality The municipality may grant funds to the authority for the purpose of aiding the authority in carrying out any of its powers and functions under this chapter. To obtain funds for this purpose, the municipality may levy taxes and may issue and sell its bonds. Any bonds issued by […]