Section 45-50-6. – Tenure of authority members.
§ 45-50-6. Tenure of authority members. The members who are first appointed shall be designated to serve for terms of one, two (2), three (3), four (4), and five (5) years, respectively. Thereafter, members shall be appointed as aforesaid for a term of office of five (5) years, except that all vacancies occurring during a […]
Section 45-50-7. – Officers and quorums.
§ 45-50-7. Officers and quorums. The authority shall elect one of its members as chairperson and another as vice chairperson and shall also elect a secretary and a treasurer. Three (3) members of the authority constitutes a quorum and the vote of three (3) members is necessary for any action taken by the authority. No […]
Section 45-50-8. – Reimbursement for expenses.
§ 45-50-8. Reimbursement for expenses. The members shall receive no compensation for the performance of their duties under this chapter, but each member shall be reimbursed for his or her reasonable expenses incurred in carrying out his or her duties under this chapter. History of Section.P.L. 1987, ch. 475, § 1.
Section 45-50-9. – Definitions.
§ 45-50-9. Definitions. As used in this chapter, the following words and terms have the following meanings, unless the context indicates another or different meaning: (1) The word “authority” means any municipal public buildings authority created pursuant to this chapter, or, if the authority is abolished, the board, body, or commission succeeding to the principal […]
Section 45-50-10. – Acquisition and construction of projects — Lease or sale — Conveyance to authority — Request for project.
§ 45-50-10. Acquisition and construction of projects — Lease or sale — Conveyance to authority — Request for project. (a)(1) In order to benefit the people of the municipality and to provide for their general health and welfare and to maintain the high standards of municipal public facilities and public equipment, the authority is authorized […]
Section 45-50-11. – Credit of state, political subdivisions, and authority not pledged.
§ 45-50-11. Credit of state, political subdivisions, and authority not pledged. (a) Revenue bonds issued under the provisions of this chapter are not deemed to constitute a debt or a pledge of the faith and credit of the state or the municipality, but are payable solely from the funds provided therefor from revenues. All revenue […]
Section 45-50-12. – Powers of authority.
§ 45-50-12. Powers of authority. The authority is authorized and empowered: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business; (2) To adopt an official seal and alter the seal at pleasure; (3) To maintain an office at a place or places within the municipality as it may […]
Section 45-50-13. – Eminent domain proceedings.
§ 45-50-13. Eminent domain proceedings. (a) The authority has the right to acquire any land, or any interest in it, including development rights, by the exercise of the power of eminent domain, whenever it is determined by the authority that the acquisition of the land, or interest, is necessary for the construction or the operation […]
Section 45-50-14. – Revenue bonds.
§ 45-50-14. Revenue bonds. (a) The authority is authorized to provide by resolution for the issuance, at one time, or from time to time, of revenue bonds of the authority for the purpose of paying all or a part of the cost of any one or more projects, the construction or acquisition of which is […]
Section 45-50-15. – Trust agreements.
§ 45-50-15. Trust agreements. In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. […]