9-51-1. Legislative findings and policy. It is hereby declared that the free circulation of traffic through the streets of any municipality is necessary to the health, safety, and general welfare of the public; that the greatly increased use by the public of motor vehicles and the parking of such vehicles in the streets and the […]
9-51-1.1. Appointive board to manage parking facilities–Contents of ordinance. Every municipality shall have power to create an appointive board of not more than seven and not less than three members in first class municipalities for the purpose of managing public parking facilities and automobile parking facilities including on-street parking facilities and to provide by ordinance […]
9-51-10. Acquisition, improvement and operation of parking facilities–Traffic control devices–Use of municipal funds. Every municipality shall have power to acquire by gift, lease, purchase, or condemnation proceedings any property, whether real, personal, or mixed, deemed by its governing body to be needed for the municipality’s regulation and control of traffic on its streets, alleys, and […]
9-51-11. Alternative means of financing parking facilities. Any municipality may pay for any portion of the cost of providing automobile parking facilities by: (1)Appropriating moneys for the purposes authorized in §9-51-10; (2)Appropriating any part or all of the net revenues derived from the operation of its automobile parking facilities including the net revenue from on-street […]
9-51-12. State and federal aid to municipal parking facilities–Agreement by municipality. Any municipality shall have power to accept state and federal aid in carrying out the provisions of §§9-51-9 to 9-51-33, inclusive, and shall have authority to enter into any lawful agreement with the state or federal government, or any agency thereof, in regard thereto. […]
9-51-13. Issuance of parking facility revenue bonds authorized. For the purpose of financing the cost of the acquisition, construction, or improvement of automobile parking facilities any municipality may issue bonds for the payment of which the credit and taxing powers of the municipality are not pledged, but as to which the principal and interest shall […]
9-51-14. Ordinance authorizing revenue bonds–Pledge and definition of net revenues. The bonds described in §9-51-13 shall be authorized by an ordinance duly adopted by the governing body and subject to referendum as other ordinances, in which ordinance the governing body may pledge all or any part of any one or more of the following: (1)The […]
9-51-15. Contents of resolution or ordinance–Covenants and agreements with bondholders. The resolution or ordinance described in §9-51-14 shall be as provided in chapter 6-8B and shall designate a special fund from which the principal and interest shall be payable, shall fix and define the net revenues appropriated and pledged to the special fund and shall […]
9-51-16. Issuance and sale of bonds–Reference to ordinance for matters not covered in bonds–Negotiability. Bonds shall be issued and sold as provided in chapter 6-8B, except that no election shall be required other than as provided in §9-51-14. All bonds may refer to the ordinance for matters not expressed in the bonds, but they shall […]
9-51-18. Bondholders have no right to compel tax levy or appropriation. No purchaser or holder of any bond issued under §9-51-13 shall ever have any right to compel the exercise of any taxing powers of the municipality or the appropriation of any of its funds or moneys save and except as set forth in the […]
9-51-19. Additional bonds if original issue insufficient–Junior to prior issues unless other provision made. Should the governing body find that the proceeds from any bonds issued under §9-51-13, by reason of error of calculation or otherwise, will be insufficient to accomplish the purpose desired, additional bonds may be authorized, issued and disposed of under the […]
9-51-2. Portion of parking meter revenues accumulated in parking lot and area fund–Approval of voters required–Computation of revenues. A municipality shall be required to accumulate at least fifty percent of the revenues derived from parking meters in a special fund to be known as the “parking lot and area fund”; provided that a majority of […]
9-51-21. Revenue bonds not municipal indebtedness. No bonds issued under §§9-51-13 to 9-51-19, inclusive, constitute an indebtedness of the municipality within the meaning of any constitutional or statutory provisions or limitations, any provisions in the bonds set forth, or set forth in the ordinance authorizing the bonds to the contrary notwithstanding. Source: SL 1955, ch […]
9-51-22. General obligation bonds authorized for parking facilities. Any municipality may issue bonds for the acquisition, construction, or improvement of automobile parking facilities. All bonds shall be authorized, issued, and sold as provided in chapter 9-26, and shall in all respects be governed by that chapter except as otherwise provided in §§9-51-22 to 9-51-28, inclusive. […]
9-51-23. Net revenues pledged to payment of special obligation bonds–Additional covenants authorized. Bonds authorized and issued under §§9-51-22 to 9-51-28, inclusive, may be made payable as to both principal and interest out of the net revenues or moneys levied and appropriated as set forth in §9-51-14, provided that in the ordinance authorizing such bonds the […]
9-51-24. Agreement by municipality to levy property tax–Indebtedness within constitutional limitation–Levy of irrepealable tax–Maximum levy. The municipality may agree to pay any part of the principal and interest on said bonds by ad valorem taxation on all property within the municipality. Such part of the principal as the municipality shall so agree to pay shall […]
9-51-25. Agreement to levy tax to cover deficiency–Levy notwithstanding omission of covenant–Levy in anticipation of deficiency–Maximum levy. The municipality may agree that in the event of a deficiency in the revenue fund as set up in the ordinance, the governing body shall levy an ad valorem tax upon all the taxable property within the municipality […]
9-51-26. Agreement to levy tax when bonds due–Certification to county auditor. The municipality may agree, prior to the issuance or delivery of any bonds, to levy by ordinance an annual ad valorem tax upon all the taxable property within the municipality in such amount as will pay the annual interest thereon and the principal of […]
9-51-27. Spread of tax against taxable property within municipality–Certification to auditor of more than one county. Upon transmittal to the county auditor of the certified copy pursuant to §9-51-26, the county auditor shall spread the tax levied in said ordinance upon all of the taxable property within the municipality at the same time that the […]
9-51-28. Tax proceeds placed in debt service fund–Transfers from revenue fund to debt service fund–Reduction of tax levy. All taxes levied pursuant to §9-51-26 when collected shall be placed in a special debt service fund and no part thereof shall be used for any purpose other than to pay the interest and principal of the […]
