Section 9-41A-39 – Terms of bonds and notes.
9-41A-39. Terms of bonds and notes. Bonds or notes of a municipal power agency shall be authorized by resolution of its board of directors and may be issued under the resolution or under a trust indenture or other security agreement, in one or more series, and shall: (1)Bear such date or dates; (2)Mature at such […]
Section 9-41A-24 – Contracts for project construction and sale of energy.
9-41A-24. Contracts for project construction and sale of energy. A municipal power agency may contract with any person, within or outside the state, for the construction of any project or for the sale or transmission of electric energy generated by any project, or for any interest therein or any right to capacity thereof, on such […]
Section 9-41A-40 – Bonds and notes payable solely from agency revenues–State and first or second class municipalities not obligated.
9-41A-40. Bonds and notes payable solely from agency revenues–State and first or second class municipalities not obligated. The principal of and interest upon any bonds or notes issued by a municipal power agency shall be payable solely from the revenues or funds pledged or available for their payment as authorized in this chapter. Each bond […]
Section 9-41A-25 – Purchase, sale, and transmission of electric energy–Agreements.
9-41A-25. Purchase, sale, and transmission of electric energy–Agreements. A municipal power agency may purchase, sell, exchange, or transmit electric energy within and outside the state in amounts it shall determine to be necessary and appropriate to make the most effective use of its powers and to meet its responsibilities, and may enter into agreements with […]
Section 9-41A-41 – Agency funds pledged for security of bonds and notes.
9-41A-41. Agency funds pledged for security of bonds and notes. Except as may be otherwise expressly provided by this chapter or by the municipal power agency, every issue of bonds or notes of the agency shall be payable out of any revenues or funds of the agency, subject only to any agreements with the holders […]
Section 9-41A-26 – Powers over money.
9-41A-26. Powers over money. A municipal power agency may acquire, hold, use, and dispose of income, revenues, funds, and money. Source: SL 1978, ch 66, §19.
Section 9-41A-27 – Acceptance of loans and grants–Compliance with conditions.
9-41A-27. Acceptance of loans and grants–Compliance with conditions. A municipal power agency may contract for and accept any gifts or grants or loans of funds or property or financial or other aid in any form from any public agency or other person, and may comply, subject to the provisions of this chapter with the terms […]
Section 9-41A-28 – Borrowing power–Bonds and notes.
9-41A-28. Borrowing power–Bonds and notes. A municipal power agency may borrow money and issue negotiable bonds or notes, secured or unsecured, in accordance with §§9-41A-38 to 9-41A-50, inclusive. Source: SL 1978, ch 66, §23.
Section 9-41A-29 – Investment of funds.
9-41A-29. Investment of funds. Subject to any agreement with bondholders or noteholders, a municipal power agency may invest money of the municipal power agency not required for immediate use, including proceeds from the sale of any bonds or notes, in obligations, securities, and other investments as the municipal power agency shall deem prudent. Source: SL […]
Section 9-41A-30 – Powers over personal property.
9-41A-30. Powers over personal property. A municipal power agency may acquire, own, hire, use, operate, and dispose of personal property. Source: SL 1978, ch 66, §20.