(a) An authority may: (1) issue bonds for any of its corporate purposes; (2) issue refunding bonds to pay or retire its bonds; and (3) issue any kinds of bonds, including bonds on which the principal and interest are payable: (i) only from the income and revenues of the housing project financed with the proceeds of the bonds or with […]
(a) Bonds of an authority are issued for an essential public and governmental purpose. (b) (1) Neither a commissioner of an authority nor a person who executes the bond for an authority is personally liable on the bonds. (2) Neither the State nor a political subdivision is liable on the bonds. (c) The bonds of an authority: (1) are not a […]
(a) (1) Bonds of an authority shall be authorized by its resolution and may be issued in one or more series. (2) The resolution, the trust indenture, or the mortgage shall provide for the bonds: (i) a date or dates; (ii) the time or times of maturity; (iii) the interest rate or rates; (iv) the denomination or denominations; (v) whether they will be […]
(a) In connection with issuing bonds or incurring obligations under leases, and to secure payment of the bonds or obligations, an authority, in addition to its other powers, may: (1) pledge any or all of the gross or net rents, fees, or revenues that are or will become due to it; (2) mortgage any or all of the […]
(a) In addition to all other rights that a contract may confer on an obligee of an authority, subject only to binding contractual restrictions, the obligee may: (1) by a writ of mandamus or a proceeding at law or in equity, compel the authority and the authority’s commissioners, officers, agents, or employees to perform each term, provision, […]
