US Lawyer Database

Section 28-18-9 – Municipal revenue bonds payable solely from revenues–Credit and taxing power not pledged–Indebtedness not within constitutional limits.

28-18-9. Municipal revenue bonds payable solely from revenues–Credit and taxing power not pledged–Indebtedness not within constitutional limits. Such revenue bonds shall be payable solely from and shall constitute a lien upon the gross revenues derived from and traceable to properties acquired by the expenditure of the proceeds of revenue bonds, or of bonds refunded thereby, […]

Section 28-18-11 – Covenants and agreements in municipal revenue bonds for protection of bondholders–Remedies of bondholders.

28-18-11. Covenants and agreements in municipal revenue bonds for protection of bondholders–Remedies of bondholders. By the resolution or ordinance authorizing revenue bonds, the governing body may make and enter into on the part of the municipality covenants and agreements with the purchasers and holders thereof from time to time concerning minimum rentals and charges, continuance […]

Section 28-18-12 – Reference in bonds to authorizing resolutions–Negotiability.

28-18-12. Reference in bonds to authorizing resolutions–Negotiability. Bonds issued pursuant to §28-18-7 may refer to the authorizing resolution or resolutions for matters not expressed in the bonds, but they shall be negotiable investment securities within the meaning of chapter 57A-8, notwithstanding any conditions expressed therein or in the resolutions. Source: SL 1963, ch 286, §5; […]

Section 28-18-17.1 – Lease-purchase agreements authorized–Pledge of facility and net earnings to payment of bonds and interest.

28-18-17.1. Lease-purchase agreements authorized–Pledge of facility and net earnings to payment of bonds and interest. The governing body of each municipality shall have the power to enter into lease-purchase agreements for a term not to exceed the maturity of the bonds issued under §28-18-7 by ordinance with any person, firm, or corporation for such facilities. […]

Section 28-18-19 – Findings and determinations binding on municipality.

28-18-19. Findings and determinations binding on municipality. The findings and determinations authorized in §§28-18-7 to 28-18-18, inclusive, shall constitute binding representations, recitals, and covenants of each municipality issuing revenue bonds hereunder to and with the purchasers and holders of all such bonds. Source: SL 1963, ch 286, §2.

Section 28-18-20 – Severability of provisions.

28-18-20. Severability of provisions. If any provision of §§28-18-7 to 28-18-19, inclusive, or any resolution or resolutions authorizing the issuance of bonds pursuant to said sections, or the application thereof to any person or circumstances, shall be held invalid in any legal proceedings, such invalidity shall not affect other provisions or applications of said sections […]