§ 7-89-101. Short Title

This chapter shall be known and may be cited as the “Convention Center Authorities Act of 2009.”

§ 7-89-102. Legislative Findings — Purpose — Liberal Construction

It is found and determined that: There is an immediate need to promote and further develop tourism, convention and employment opportunities in this state, by facilitating the acquisition, construction and rehabilitation of convention center facilities along with associated hotel accommodations; transportation infrastructure; tourism, theatre, retail business and commercial office space facilities; parking facilities; parks; greenways; […]

§ 7-89-103. Chapter Definitions

As used in this chapter, unless the context otherwise requires: “Authority” or “convention center authority” means any public corporation organized pursuant to this chapter; “Board” or “board of directors” means the governing body of the authority; “Bonds” or “revenue bonds” means bonds, notes, interim certificates or other obligations of an authority issued pursuant to this […]

§ 7-89-104. Adoption of Resolution to Form Authority

If the governing body of a municipality, by appropriate resolution duly adopted, finds and determines that it is wise, expedient, necessary or advisable that a convention center authority of the municipality be formed, authorizes the chief executive officer of the municipality to form the authority and approves the form of corporate charter proposed to be […]

§ 7-89-105. Charter Contents

The charter shall set forth: The name of the authority, which shall be the convention center authority of the city, county or metropolitan government of  , where the blank is to be filled in with the name of the municipality, if the name is available for use by the authority, and if not available, then […]

§ 7-89-106. Filing of Charter

When executed and acknowledged in conformity with § 7-89-105, the charter shall be filed with the secretary of state. The secretary of state shall examine the charter and, if the secretary of state finds that the recitals contained in the charter are correct, that the requirements of § 7-89-104 have been complied with and that […]

§ 7-89-107. Amendment of Charter

The charter may, at any time and from time to time, be amended in a manner not inconsistent with § 7-89-105. Any such amendment shall be adopted in the following manner: The board of directors of the authority shall file with the governing body of the municipality an application in writing seeking permission to amend […]

§ 7-89-108. Board of Directors

The authority shall have a board of directors in which all corporate powers of the authority shall be vested. The board shall consist of no fewer than seven (7) directors, all of whom shall be duly qualified voters of the municipality. A director shall serve without compensation, except that the authority may reimburse a director […]

§ 7-89-109. Authority Shall Be Public Nonprofit Corporation — Powers of Authority

Each convention center authority created pursuant to this chapter shall be a public nonprofit corporation and a public instrumentality of the municipality with respect to which the authority is organized. The authority shall have the following powers, together with all powers incidental to the following powers or necessary for the performance of those powers, to: […]

§ 7-89-110. Annual Audit and Report

The board of directors of each authority shall cause an annual audit to be made of the books and records of its authority. The comptroller of the treasury, through the department of audit, shall be responsible for determining that the audits are prepared in accordance with generally accepted governmental auditing standards and that the audits […]

§ 7-89-111. Municipal Support of Projects — Assignment or Loan of Employees and Provision of Facilities to Authority — Acceptance of Donations— Reversion of Property to Donor

For the purpose of aiding and cooperating with an authority, the municipality authorizing the authority may assign or loan any of its employees, including its engineering staff, and facilities, or those of its agencies and instrumentalities; may provide necessary office space, equipment, and other facilities for the use of the authority and may provide or […]

§ 7-89-112. Authority to Issue Bonds — Application of Proceeds of Bonds — Refunding and Refinancing Outstanding Bonds — Payment of Real Property Ad Valorem Taxes Into Special Fund

The authority shall have power and is authorized to issue its bonds in order to finance: The costs of any project; The payment of the costs of issuance of the bonds, including underwriter’s discounts, financial advisory fees, preparation of the definitive bonds, preparation of all public offering and marketing materials, advertising, credit enhancement and legal, […]

§ 7-89-113. Exemption From Taxation — Bonds Deemed to Be Securities Issued by Public Instrumentality or Political Subdivision of State

The authority is declared to be performing a public function on behalf of the municipality with respect to which it is organized and to be a public instrumentality of the municipality. Accordingly, the authority and all properties at any time owned by it and the income from the properties and all bonds issued by the […]

§ 7-89-114. Credit of Municipality Not Pledged

Except to the extent of any revenues that may be specifically allocated, transferred, contributed or pledged by a municipality in accordance with this chapter and laws, rules and regulations applicable to this chapter, no municipality shall in any event be liable for the payment of the principal of or interest on any bonds of the […]

§ 7-89-115. Powers of Municipalities to Aid or Assist Authorities

Any municipality is authorized to aid or otherwise provide assistance to an authority created pursuant to this chapter by the municipality, including entering into leases or lease-purchase agreements of projects, or parts of projects with an authority, for such term or terms and upon such conditions as may be determined by resolution of the governing […]

§ 7-89-116. Execution of Leases, Contracts, Deeds

Except as otherwise provided in this chapter, all leases, contracts, deeds of conveyance or instruments in writing executed by the authority shall be executed in the name of the authority by the chair or secretary of the authority, or by such other officers as the board of directors, by resolution, may direct, and the seal […]

§ 7-89-117. Wage Rates and Benefits for Workers — Solicitation of Bids From Minority-Owned Businesses

In the case of an authority created by a municipality subject to title 7, chapter 4, part 2, the authority shall, if otherwise applicable, be subject to §§ 7-4-205 and 7-4-206 in addition to the metropolitan government; provided, that, notwithstanding any contrary provision of §§ 7-4-205 and 7-4-206, the governing body of the municipality may, […]

§ 7-89-118. Disposition of Earnings

The authority shall be a public nonprofit corporation, and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that, in the event the board of directors determines that sufficient provision has been made for the full payment of the expenses, […]

§ 7-89-119. Dissolution — Disposition of Property

Whenever the board of directors of an authority or the governing body of the creating municipality by resolution determines that the purposes for which the authority was formed have been substantially accomplished and all bonds theretofore issued and all obligations theretofore incurred by the authority have been fully paid, the members of the board of […]

§ 7-89-120. Joint Operation of Authorities

The powers conferred upon authorities created under this chapter may be exercised by two (2) or more such authorities acting jointly. Two (2) or more municipalities by resolution may, by acting jointly, incorporate a convention center authority to effectuate the purposes of this chapter. When two (2) or more municipalities incorporate such an authority, each […]