§13-2F-2. Purposes; Article Governs Over Charter Provisions
The purpose of this article is to provide a mechanism for public bodies in the state to issue public obligations in compliance with section 310(b)(1) of the tax equity and fiscal responsibility act of one thousand nine hundred eighty-two, United States Internal Revenue Code section 103(j), as amended. To fulfill the purpose, this article shall […]
§13-2F-3. Definitions
The following terms wherever used or referred to in this article shall have the following meanings, unless a different meaning plainly appears from the context. The term "public body" means any city, town, county commission, building commission, Board of Education, public service district, political subdivision or any other public entity, whether created before, on or […]
§13-2F-4. Authority to Issue Public Obligations in Registered and Book Entry Forms
Notwithstanding any other provision of this code to the contrary, on and after July 1, 1986, any public body may issue public obligations in registered or book entry form in addition to any form authorized by the specific provisions of this code pursuant to which the public obligations are issued.
§13-2E-8. Authority for Escrow Agreement
The governing body of any public body shall have power to enter into such escrow agreements and to insert therein such protective and other covenants and provisions as it may consider necessary to permit the carrying out of the provisions of this article and to insure the prompt payment of principal of and interest and […]
§13-2E-9. Call of Revenue Bonds for Redemption
Where any revenue bonds to be refunded are not to be surrendered for exchange or payment and are not to be paid at maturity with escrowed obligations, but are to be paid from such source prior to maturity pursuant to call for redemption exercised under a right of redemption reserved in such revenue bonds, the […]
§13-2E-10. Security Provisions
Refunding bonds shall be special obligations of the public body and shall be payable solely from and secured by a lien upon the gross revenues or net revenues of the enterprise, as shall be more fully described in the ordinance or resolution authorizing the issuance of refunding bonds, and the ordinance or resolution authorizing such […]
§13-2E-11. Bonds Payable Solely From Revenues of Enterprise
No recourse shall be had for the payment of the refunding bonds, or interest thereon, or any part thereof, against the General Fund of any public body, nor shall the credit or taxing power of any public body be deemed to be pledged thereto. The refunding bonds, and interest thereon, shall not be a debt […]
§13-2E-12. Tax Exemption; Exceptions
The refunding bonds and the income therefrom shall be exempt from taxation, except inheritance, estate and transfer taxes.
§13-2E-13. Validity of Bonds
Refunding bonds bearing the signatures of officers of the public body in office on the date of the signing thereof shall be valid and binding obligations of the public body for all purposes, notwithstanding that before the delivery thereof any or all the persons whose signatures appear thereon shall have ceased to be officers of […]
§13-2E-14. Article Complete Authority for Refunding Bonds; Effect on Other Laws; Liberal Construction
This article constitutes full and complete authority for the issuance of refunding bonds. No procedure or proceedings, publications, notices, consents, approvals, orders, acts or things by any governing body of any public body, or any board, officer, commission, department, agency, or instrumentality of the state or any public body shall be required to issue any […]