Section 15-9-127 – General Obligation Bonds; Purposes; Authorization; Approval; Characteristics; Other Provisions Unaffected.
15-9-127. General obligation bonds; purposes; authorization; approval; characteristics; other provisions unaffected. (a) In addition to the authority to issue bonds pursuant to W.S. 15-9-119, any municipality may issue general obligation bonds for the urban renewal purposes specified in subsection (b) of this section and subject to the requirements thereof and the requirements of the constitution […]
Section 15-9-128 – Investment of Funds in Bonds Authorized; Duty of Care.
15-9-128. Investment of funds in bonds authorized; duty of care. (a) Anyone carrying on a banking or investment business or an insurance business and all fiduciaries may legally invest any monies or other funds belonging to them or within their control in any bonds or other obligations issued by a municipality pursuant to this chapter. […]
Section 15-9-129 – Exemption of Property From Execution; Exception.
15-9-129. Exemption of property from execution; exception. All property of a municipality or agency, including funds owned or held by it for the purposes of this chapter, are exempt from levy and sale by virtue of any execution. No execution or other judicial process shall issue against the property nor shall judgment against a municipality […]
Section 15-9-130 – Exemption of Property From Taxation; Termination Thereof.
15-9-130. Exemption of property from taxation; termination thereof. The property of a municipality or agency acquired or held for the purposes of this chapter, is public property used for essential public and governmental purposes. The property is exempt from all taxes of the municipality, the county, the state or any political subdivision thereof. However, the […]
Section 15-9-131 – Powers of Municipality, Public Body in Aiding Project.
15-9-131. Powers of municipality, public body in aiding project. (a) To aid in the planning, undertaking or carrying out of an urban renewal project and related activities authorized by this chapter located within the area in which it is authorized to act, any public body or municipality, upon terms and with or without consideration as […]
Section 15-9-118 – Property Acquired in Project; Disposition When Area Designated Under Federal Provisions.
15-9-118. Property acquired in project; disposition when area designated under federal provisions. Notwithstanding any other provisions of this chapter, if the municipality is situated in an area designated as a redevelopment area under the Federal Area Redevelopment Act 42 U.S.C. 3161 et seq., land in an urban renewal project area designated under the urban renewal […]
Section 15-9-119 – Bonds Authorized; Payment Thereof; Security.
15-9-119. Bonds authorized; payment thereof; security. (a) A municipality is empowered to issue: (i) Revenue bonds to finance the undertaking of any urban renewal project under this chapter, including, without limiting the generality thereof, the payment of principal and interest upon any advances for surveys and plans or preliminary loans; and (ii) Refunding bonds for […]
Section 15-9-120 – Taxes Upon Property; Authorized Division Thereof.
15-9-120. Taxes upon property; authorized division thereof. (a) Any urban renewal plan may contain a provision that taxes, if any, levied upon taxable property in an urban renewal project each year by or for the benefit of a municipality in the state shall be divided as follows: (i) That portion of the taxes which would […]
Section 15-9-121 – Taxes Upon Property; When Pledging Allowed.
15-9-121. Taxes upon property; when pledging allowed. In any urban renewal plan or in proceedings for the advance of monies or making of loans or the incurring of any indebtedness by the municipality or agency to finance or refinance in whole or in part the urban renewal project, the portion of the taxes specified in […]
Section 15-9-122 – Bonds; Provisions Inapplicable; Tax Exemption.
15-9-122. Bonds; provisions inapplicable; tax exemption. (a) Revenue bonds issued under this chapter: (i) Do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction; (ii) Are not subject to the provisions of any other law or charter relating to the authorization, issuance or sale of bonds. (b) Bonds […]