§8-27-24. Bonds Made Legal Investments
Banking institutions, building and loan associations, and insurance companies organized under the laws of this state, may lawfully invest their own funds in bonds issued under the provisions of this article.
§8-27-25. Article Constitutes Complete Authority; Liberal Construction
This article shall constitute full and complete authority for the creation of any authority and for carrying out the powers and duties of any such authority and for the issuance, sale or exchange of revenue bonds by such authority as provided in this article. The provisions of this article shall be liberally construed to accomplish […]
§8-27-26. Dissolution of Authority; Disposition of Assets After Payment of Debts
§8-27-26. Dissolution of authority; disposition of assets after payment of debts. In the event full and adequate provision is made for the payment of all of the debts of an authority, the participating municipalities or counties or any combination thereof which have contributed at least sixty percent of the total value of all moneys and […]
§8-27-27. Employees to Be Covered by Workers' Compensation
All eligible employees of any authority shall be considered to be within the workers' compensation statute of this state and premiums on their compensation shall be paid by the authority as required by law.
§PART. Vii. Public Service Commission. §8-27-18. Repealed. Acts, 1976 Reg. sess., Ch. 85
§8-27-18. Repealed. Acts, 1976 Reg. Sess., Ch. 85.
§8-27-19. Indebtedness of Authorities
§8-27-19. Indebtedness of authorities. Each authority may issue bonds, borrow money and incur any proper indebtedness and issue any other obligations as authorized by law or provided in this article. No such indebtedness or obligation incurred by any authority shall give any right against any member of the governing body of any participating government or […]
§8-27-20. Exemption From Taxation
It is hereby found, determined and declared that the creation of any authority and the carrying out of its purposes is in all respects for the benefit of the people of this state in general, and of the participating governments in particular, and is a public purpose; and that the authority will be performing an […]
§8-27-21. Protection of Employees of Existing Transportation Systems
§8-27-21. Protection of employees of existing transportation systems. Whenever any authority acquires any existing system pursuant to the provisions of this article, the employees of such system shall be protected in the following manner: (a) The employees of such system shall be retained to the fullest extent possible consistent with sound management, and if terminated […]
§8-27-21a. Federal Grants; Wage Deductions
Notwithstanding any provision of this code to the contrary, the term “deductions”, as defined in 21-5-1 of this code and applied to the wages of an employee of an urban mass transportation authority under this article which is a direct or indirect recipient of federal funding from the Federal Transit Administration pursuant to the Urban […]
§8-27-22. Conflict of Interest
INVESTMENTS; CONSTRUCTION. §8-27-22. Conflict of interest. No member of any authority, nor any of its officers, employees, agents or consultants, shall have any interest in any firm, partnership, corporation, company, association or joint-stock association engaged in the business of providing public transportation in the area encompassed by the authority, or in the manufacture, sale or […]