1345 – Fiscal Year.
§ 1345. Fiscal year. The fiscal year of the authority shall begin on the first day of April.
1346 – Consent by the State.
§ 1346. Consent by the state. The commissioner of general services shall have power, in his discretion, from time to time to transfer and convey to the authority, or to one or more participating counties for the use of the authority, and for such consideration as may be determined by him to be paid to […]
1347 – Separability.
§ 1347. Separability. If any provision of any section of this title or the application thereof to any person or circumstance shall be adjudged invalid by a court of competent jurisdiction, such order or judgment shall be confined in its operation to the controversy in which it was rendered, and shall not affect or invalidate […]
1348 – Effect of Inconsistent Provisions.
§ 1348. Effect of inconsistent provisions. Insofar as the provisions of this title are inconsistent with the provisions of any other law, general, special or local, the provisions of this title shall be controlling.
1335 – Notes and Bonds of the Authority.
§ 1335. Notes and bonds of the authority. 1. (a) The authority shall have power and is hereby authorized from time to time to borrow money and issue its negotiable bonds and notes in such principal amount, as, in the opinion of the authority, shall be necessary to provide sufficient funds for achieving its purposes, […]
1336 – Reserve Funds and Appropriations.
§ 1336. Reserve funds and appropriations. 1. The authority may create and establish one or more reserve funds to be known as debt service reserve funds and may pay into such debt service reserve funds (a) any moneys appropriated and made available by the state for the purposes of such funds, (b) any proceeds of […]
1337 – Agreement of the State.
§ 1337. Agreement of the state. The state does hereby pledge to and agree with the holders of any notes or bonds issued under this title, that the state will not limit or alter the rights hereby vested in the authority to fulfill the terms of any agreements made with the holders thereof, or in […]
1338 – Right of State to Require Redemption of Bonds.
§ 1338. Right of state to require redemption of bonds. Notwithstanding and in addition to any provisions for the redemption of bonds which may be contained in any contract with the holders of the bonds, the state may, upon furnishing sufficient funds therefor, require the authority to redeem, prior to maturity, as a whole, any […]
1339 – Remedies of Noteholders and Bondholders.
§ 1339. Remedies of noteholders and bondholders. 1. In the event that the authority shall default in the payment of principal of or interest on any issue of notes or bonds after the same shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of thirty […]
1340 – Notes and Bonds as Legal Investment.
§ 1340. Notes and bonds as legal investment. The notes and bonds of the authority are hereby made securities in which all public officers and bodies of the state and all municipalities and political subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks […]