§7-22-16. Bonds Issued to Finance Economic Opportunity Development District Projects
(a) General. -– The county commission that established the economic opportunity development district may issue bonds or notes for the purpose of financing development expenditures, as described in section five of this article, with respect to one or more projects within the economic opportunity development district. (b) Limited obligations. -– All bonds and notes issued […]
§7-22-17. Security for Bonds
(a) General. — Unless the county commission otherwise determines in the order authorizing the issuance of the bonds or notes under the authority of this article, there is hereby created a statutory lien upon the subaccount created pursuant to section eight of this article and all special district excise tax revenues collected for the benefit […]
§7-22-18. Redemption of Bonds
The revenue bonds issued pursuant to this article may contain a provision therein to the effect that they, or any of them, may be called for redemption at any time prior to maturity by the county commission and at the redemption prices or premiums, which terms shall be stated in the bond.
§7-22-19. Refunding Bonds
(a) Any bonds issued under this article and at any time outstanding may at any time, and from time to time, be refunded by a county commission by the issuance of its refunding bonds in amount as the county commission considers necessary to refund the principal of the bonds to be refunded, together with any […]
§7-22-20. Use of Proceeds From Sale of Bonds
(a) General. — The proceeds from the sale of any bonds issued under authority of this article shall be applied only for the purpose for which the bonds were issued: Provided, That any accrued interest received in any sale shall be applied to the payment of the interest on the bonds sold: Provided, however, That […]
§7-22-21. Bonds Made Legal Investments
Bonds issued under the provisions of this article are legal investments for banks, building and loan associations and insurance companies organized under the laws of this state and for a business development corporation organized pursuant to chapter thirty-one, article fourteen of this code.
§7-22-3. Definitions
For purposes of this article, the term: (1) "County commission" means the governing body of a county of this state;
§7-22-4. Authorization to Create Economic Opportunity Development Districts
A county commission may, in accordance with the procedures and subject to the limitations set forth in this article: (1) Create one or more economic opportunity development districts within its county;
§7-22-5. Development Expenditures
Any county commission that has established an economic opportunity development district under this article may make, or authorize to be made by a district board and other public or private parties, development expenditures as will promote the economic vitality of the district and the general welfare of the county, including, but not limited to, expenditures […]
§7-22-6. Notice; Hearing
(a) General. — A county commission desiring to create an economic opportunity development district shall conduct a public hearing. (b) Notice of hearing. — Notice of the public hearing shall be published as a Class I-0 legal advertisement in compliance with article three, chapter fifty-nine of this code at least twenty days prior to the […]