Section 9-51-33 – Operating management contracts for municipally owned parking facilities.
9-51-33. Operating management contracts for municipally owned parking facilities. The governing body may, in the alternative, employ any person, firm, or corporation as operating manager and agent for the municipality to operate and maintain any automobile parking facility or facilities in behalf of the municipality under a contract defining the terms of such employment. Source: […]
Section 9-51-15 – Contents of resolution or ordinance–Covenants and agreements with bondholders.
9-51-15. Contents of resolution or ordinance–Covenants and agreements with bondholders. The resolution or ordinance described in §9-51-14 shall be as provided in chapter 6-8B and shall designate a special fund from which the principal and interest shall be payable, shall fix and define the net revenues appropriated and pledged to the special fund and shall […]
Section 9-51-16 – Issuance and sale of bonds–Reference to ordinance for matters not covered in bonds–Negotiability.
9-51-16. Issuance and sale of bonds–Reference to ordinance for matters not covered in bonds–Negotiability. Bonds shall be issued and sold as provided in chapter 6-8B, except that no election shall be required other than as provided in §9-51-14. All bonds may refer to the ordinance for matters not expressed in the bonds, but they shall […]
Section 9-51-18 – Bondholders have no right to compel tax levy or appropriation.
9-51-18. Bondholders have no right to compel tax levy or appropriation. No purchaser or holder of any bond issued under §9-51-13 shall ever have any right to compel the exercise of any taxing powers of the municipality or the appropriation of any of its funds or moneys save and except as set forth in the […]
Section 9-51-19 – Additional bonds if original issue insufficient–Junior to prior issues unless other provision made.
9-51-19. Additional bonds if original issue insufficient–Junior to prior issues unless other provision made. Should the governing body find that the proceeds from any bonds issued under §9-51-13, by reason of error of calculation or otherwise, will be insufficient to accomplish the purpose desired, additional bonds may be authorized, issued and disposed of under the […]
Section 9-51-21 – Revenue bonds not municipal indebtedness.
9-51-21. Revenue bonds not municipal indebtedness. No bonds issued under §§9-51-13 to 9-51-19, inclusive, constitute an indebtedness of the municipality within the meaning of any constitutional or statutory provisions or limitations, any provisions in the bonds set forth, or set forth in the ordinance authorizing the bonds to the contrary notwithstanding. Source: SL 1955, ch […]
Section 9-51-22 – General obligation bonds authorized for parking facilities.
9-51-22. General obligation bonds authorized for parking facilities. Any municipality may issue bonds for the acquisition, construction, or improvement of automobile parking facilities. All bonds shall be authorized, issued, and sold as provided in chapter 9-26, and shall in all respects be governed by that chapter except as otherwise provided in §§9-51-22 to 9-51-28, inclusive. […]
Section 9-51-23 – Net revenues pledged to payment of special obligation bonds–Additional covenants authorized.
9-51-23. Net revenues pledged to payment of special obligation bonds–Additional covenants authorized. Bonds authorized and issued under §§9-51-22 to 9-51-28, inclusive, may be made payable as to both principal and interest out of the net revenues or moneys levied and appropriated as set forth in §9-51-14, provided that in the ordinance authorizing such bonds the […]
Section 9-51-24 – Agreement by municipality to levy property tax–Indebtedness within constitutional limitation–Levy of irrepealable tax–Maximum levy.
9-51-24. Agreement by municipality to levy property tax–Indebtedness within constitutional limitation–Levy of irrepealable tax–Maximum levy. The municipality may agree to pay any part of the principal and interest on said bonds by ad valorem taxation on all property within the municipality. Such part of the principal as the municipality shall so agree to pay shall […]
Section 9-51-25 – Agreement to levy tax to cover deficiency–Levy notwithstanding omission of covenant–Levy in anticipation of deficiency–Maximum levy.
9-51-25. Agreement to levy tax to cover deficiency–Levy notwithstanding omission of covenant–Levy in anticipation of deficiency–Maximum levy. The municipality may agree that in the event of a deficiency in the revenue fund as set up in the ordinance, the governing body shall levy an ad valorem tax upon all the taxable property within the municipality […]