Effective 5/4/2022 63H-1-601. Resolution authorizing issuance of authority bonds — Characteristics of bonds. (1) The authority may not issue bonds under this part unless the authority board first: (a) adopts a parameters resolution that sets forth: (i) the maximum: (A) amount of the bonds; (B) term; and (C) interest rate; and (ii) the expected security […]
Effective 3/30/2015 63H-1-602. Sources from which bonds may be made payable — Authority powers regarding bonds. (1) The principal and interest on bonds issued by the authority may be made payable from: (a) the income and revenues of the projects financed with the proceeds of the bonds; (b) the income and revenues of certain designated […]
63H-1-603. Authority to purchase agency bonds. (1) Any person, firm, corporation, association, political subdivision of the state, or other entity or public or private officer may purchase bonds issued by an authority under this part with funds owned or controlled by the purchaser. (2) Nothing in this section may be construed to relieve a purchaser […]
63H-1-604. Those executing bonds not personally liable — Limitation of obligations under bonds — Negotiability. (1) A member of the authority board or other person executing an authority bond is not liable personally on the bond. (2) (a) A bond issued by the authority is not a general obligation or liability of the state or […]
63H-1-605. Obligee rights — Board may confer other rights. (1) In addition to all other rights that are conferred on an obligee of a bond issued by the authority under this part and subject to contractual restrictions binding on the obligee, an obligee may: (a) by mandamus, suit, action, or other proceeding, compel an authority […]
63H-1-606. Bonds exempt from taxes — Authority may purchase its own bonds. (1) A bond issued by the authority under this part is issued for an essential public and governmental purpose and is, together with interest on the bond and income from it, exempt from all state taxes except the corporate franchise tax. (2) The […]
