Section 21-17-431 – Rights of Holder Cumulative and Nonexclusive.
21-17-431. Rights of holder cumulative and nonexclusive. No right or remedy conferred upon any holder of any securities or any trustee for the holder or by any proceedings appertaining to the issuance of the securities is exclusive of any right or remedy but each right or remedy is cumulative and in addition to every other […]
Section 21-17-432 – Omission by Security Holder Not to Relieve Board or University of Obligation.
21-17-432. Omission by security holder not to relieve board or university of obligation. The failure of any holder of any securities to proceed as provided by this act shall not relieve the board or the university, or any of their officers, agents and employees of any liability for failure to perform or carry out any […]
Section 21-17-433 – Interim Debentures; Maturity; Use of Proceeds; Funding of Notes or Warrants With Proceeds.
21-17-433. Interim debentures; maturity; use of proceeds; funding of notes or warrants with proceeds. (a) Any interim debentures may mature at such time or times not exceeding a period of time equal to the estimated time needed to effect the purpose or purposes for which they are issued or for which the bonds are authorized […]
Section 21-17-434 – Interim Debentures; Pledges for Security.
21-17-434. Interim debentures; pledges for security. (a) Pledged revenues and other monies, including without limitation proceeds of bonds to be issued or reissued after the issuance of interim debentures, and bonds issued for the purpose of securing the payment of interim debentures, may be pledged for the purpose of securing the payment of interim debentures. […]
Section 21-17-420 – Repurchase of Securities by Board.
21-17-420. Repurchase of securities by board. Any bonds or other securities may be repurchased by the board out of any funds available for that purpose at a price of not more than the principal amount thereof and accrued interest, plus the amount of the premium, if any, which might on the next prior redemption date […]
Section 21-17-421 – Use of Proceeds From Issuance of Securities; Accrued Interest and Premiums.
21-17-421. Use of proceeds from issuance of securities; accrued interest and premiums. All monies received from the issuance of any securities under this act shall be used solely for the purpose or purposes for which issued and to defray the cost of the project thereby delineated. Any accrued interest and any premium shall be applied […]
Section 21-17-422 – Use of Surplus Proceeds.
21-17-422. Use of surplus proceeds. Any unexpended balance of the proceeds of securities remaining after the completion of the acquisition or improvement of properties pertaining to the project or otherwise the completion of the purpose or purposes for which the securities were issued shall be credited immediately to the fund or account created for the […]
Section 21-17-423 – Securities Not Affected by Validity of Project; Purchaser Not Responsible as to Application of Proceeds.
21-17-423. Securities not affected by validity of project; purchaser not responsible as to application of proceeds. (a) The validity of any securities shall not be dependent on nor affected by the validity or regularity of any proceedings relating to a project or the proper completion of any purpose for which the securities are issued. (b) […]
Section 21-17-424 – Creation of Special Funds and Accounts.
21-17-424. Creation of special funds and accounts. The board in any resolution authorizing the issuance of bonds or other securities under this act or in any instrument or other proceedings appertaining thereto may create special funds and accounts for the payment of the cost of a project, of operation and maintenance expenses, of the securities, […]
Section 21-17-410 – Borrowing or Otherwise Becoming Obligated to Defray Cost of Authorized Projects.
21-17-410. Borrowing or otherwise becoming obligated to defray cost of authorized projects. (a) Where any project is otherwise authorized by law and where the board is otherwise authorized by law to issue its securities to defray the cost of the project, the board may borrow money or otherwise become obligated for the project and may […]