§8-38-3. Definitions
For purposes of this article, the term: (1) "Affordable housing" means housing that could be purchased with a cash down payment of at least ten percent and the proceeds of a mortgage loan, the monthly principal and interest payments on which do not exceed thirty percent of the gross monthly income of a household earning […]
§8-38-4. Authorization to Create Economic Opportunity Development Districts
A municipality 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 limits;
§8-38-5. Development Expenditures
Any municipality 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 municipality, including, but not limited to, expenditures for […]
§8-38-6. Notice; Hearing
(a) General. — A municipality 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 scheduled […]
§8-37-1. Short Title
This act may be known and cited as the "Municipal Financial Stabilization Fund Act".
§8-37-2. Findings and Declarations
The Legislature finds and declares that: (1) Municipalities should maintain a prudent level of financial resources to try to protect against reducing service levels or raising taxes and fees because of temporary revenue shortfalls, unpredicted one-time expenditures or emergency situations; and
§8-37-3. Budget Stabilization Fund; Creation; Appropriation; Maximum
(a) A municipality may create a financial stabilization fund by a majority vote of its governing body. The fund may receive appropriations, gifts, grants and any other funds made available. (b) The governing body may appropriate a sum to the fund from any surplus in the General Fund at the end of each fiscal year […]
§8-37-4. Fund Investment; Usage
(a) The governing body may invest the money in the fund as it considers appropriate, with the earnings retained by the fund. (b) The governing body may appropriate money in the financial stabilization fund upon a majority vote for the following purposes: (1) To cover a general fund shortfall; or
§8-38-1. Short Title
This article is known and may be cited as the “Municipal Economic Opportunity Development District Act”.
§8-33-7. Property, Bonds and Obligations of Commissions Exempt From Taxation
Each commission shall be exempt from the payment of any taxes or fees to the state or any subdivisions thereof or any municipalities or to any officer or employee of the state or of any subdivision thereof or of any municipality. The property of each commission shall be exempt from all municipal and county taxes. […]