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Article 1 - Acquisition and Development of Lands for Industrial Parks.
Section 11-54-1 - Definitions. - The following words and phrases, wherever used in this article,...
Section 11-54-2 - Authorized. - Each municipality shall have the power to acquire and develop...
Section 11-54-3 - Authorization and Procedure for Sale of Lands Comprising Industrial Parks. - Each municipality shall have the power to sell to any...
Section 11-54-4 - Binding Option Agreements for Sale of Industrial Park Authorized. - Each municipality in this state holding property as the site...
Article 2 - Acquisiton, etc., of Projects for Promotion of Industry, Trade, and Pollution Control Generally.
Section 11-54-20 - Definitions. - Wherever used in this article, unless a different meaning clearly...
Section 11-54-21 - Legislative Intent; Construction of Article Generally. - (a) It is the intent of the Legislature by the...
Section 11-54-22 - Powers of Municipalities Generally as to Acquisition, Leasing, etc., of Projects for Industry, Trade, and Pollution Control. - In addition to any other powers which it may now...
Section 11-54-23 - Requirements as to Leasing of Projects. - (a) Prior to the leasing of any project, the governing...
Section 11-54-24 - Bonds - Form, Terms, Denominations, etc.; Execution, Sale, Delivery, Redemption, Etc. - All bonds issued by a municipality under authority of this...
Section 11-54-25 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default. - The principal of and interest on any bonds issued under...
Section 11-54-26 - Bonds - Disposition of Proceeds From Sale. - (a) The proceeds from the sale of any bonds issued...
Section 11-54-27 - Refunding Bonds. - Any bonds issued under this article and at any time...
Section 11-54-28 - Notice To, Consent or Approval of Governmental Body, etc., Not to Be Required for Issuance or Sale of Bonds or Execution of Mortgages. - No notice to or consent or approval by any governmental...
Section 11-54-29 - Investment in Bonds by Savings Banks and Insurance Companies. - Bonds issued under the provisions of this article shall be...
Section 11-54-30 - Municipalities Not to Contribute to Costs of Acquisition of Projects or Use Municipal Lands for Projects. - No municipality shall have the power to pay out of...
Section 11-54-31 - Exemption From Taxation of Projects, Bonds, Etc. - The bonds authorized by this article and the income therefrom,...
Section 11-54-32 - Construction of Article. - Neither this article nor anything contained in this article shall...
Article 3 - Acquisition, etc., of Projects for Provision of Buildings and Other Facilities for Certain National Organizations.
Section 11-54-50 - Definitions. - Wherever used in this article, unless a different meaning clearly...
Section 11-54-51 - Legislative Intent; Construction of Article Generally. - (a) It is the intent of the Legislature by the...
Section 11-54-52 - Powers of Municipalities Generally as to Acquisition, Leasing, etc., of Projects for Provision of Buildings and Other Facilities for Certain National Organizations. - In addition to any other powers which it may now...
Section 11-54-53 - Requirements as to Leasing of Projects. - (a) Prior to the leasing of any project, the governing...
Section 11-54-54 - Bonds - Form, Terms, Denominations, etc.; Execution, Sale, Delivery, Redemption, Etc. - All bonds issued by a municipality under authority of this...
Section 11-54-55 - Bonds - Security for Payment of Principal and Interest. - The principal of and interest on any bonds issued under...
Section 11-54-56 - Bonds - Disposition of Proceeds From Sale. - (a) The proceeds derived from the sale of any bonds...
Section 11-54-57 - Refunding Bonds. - Any bonds issued under this article and at any time...
Section 11-54-58 - Notice To, Consent or Approval of Governmental Body, etc., Not to Be Required for Issuance or Sale of Bonds or Execution of Mortgages. - No notice to or consent or approval by any governmental...
Section 11-54-59 - Investment in Bonds by Savings Banks and Insurance Companies. - Bonds issued under the provisions of this article shall be...
Section 11-54-60 - Municipalities Not to Contribute to Costs of Acquisition of Projects or Use Municipal Lands for Projects. - No municipality shall have the power to pay out of...
Section 11-54-61 - Exemption From Taxation of Projects, Bonds, Etc. - The bonds authorized by this article and the income therefrom,...
Section 11-54-62 - Construction of Article. - Neither this article nor anything contained in this article shall...
Article 4 - Industrial Development Boards.
Division 1 - General Provisions.
Section 11-54-80 - Definitions. - Wherever used in this division, unless a different meaning clearly...
Section 11-54-81 - Legislative Intent; Construction of Division Generally. - (a) It is the intent of the Legislature by the...
Section 11-54-82 - Application for Authority to Incorporate Industrial Development Board; Adoption of Resolution by Governing Body Authorizing Incorporation; Execution, Acknowledgment, and Filing of Certificate of Incorporation Generally. - Whenever any number of natural persons, not less than three,...
Section 11-54-83 - Certificate of Incorporation - Contents; Execution and Acknowledgment. - (a) The certificate of incorporation shall set forth: (1) The...
Section 11-54-84 - Certificate of Incorporation - Filing With Probate Judge; Examination, Approval, and Recordation by Probate Judge. - When executed and acknowledged in conformity with Section 11-54-83, the...
Section 11-54-85 - Certificate of Incorporation - Amendment. - The certificate of incorporation may at any time and from...
Section 11-54-86 - Board of Directors. - The industrial development board shall have a board of directors...
Section 11-54-87 - Powers of Boards Generally; Location and Operation of Projects of Boards Generally; Meetings of Board of Directors. - (a) The industrial development board shall have the following powers...
Section 11-54-88 - Additional Powers as to Pollution Control Facilities. - (a)(1) In addition to all other powers at any time...
Section 11-54-89 - Bonds - Form, Terms, Denominations, etc.; Execution, Sale, Delivery, Redemption, etc.; Refunding of Bonds. - All bonds issued by the industrial development board shall be...
Section 11-54-90 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default. - The principal of and interest on any bonds issued by...
Section 11-54-91 - Borrowing of Money for Temporary Use and Issuance of Temporary Revenue Bonds as Evidence Thereof. - (a) Any industrial development board organized under the provisions of...
Section 11-54-92 - Liability of Municipalities Upon Bonds, Agreements, Obligations, etc., of Boards. - The municipality shall not in any event be liable for...
Section 11-54-93 - Disposition of Net Earnings of Boards. - The industrial development board shall be a nonprofit corporation, and...
Section 11-54-94 - Authority and Procedure for Dissolution of Boards; Vesting of Title to Funds and Properties Thereof in Municipalities Upon Dissolution. - Whenever the board of directors of the industrial development board...
Section 11-54-95 - Documents of Boards May Be Filed for Record Without Payment of Taxes or Certain Fees. - The certificate of incorporation of the industrial development board, any...
Section 11-54-96 - Exemptions of Boards - Taxation. - The industrial development board and all properties at any time...
Section 11-54-96.1 - Ad Valorem Taxes Required of Hotels, etc., Built Under Section 11-54-80. - All hotels and motor inns built under Section 11-54-80 shall...
Section 11-54-97 - Exemption of Boards - Usury and Interest Laws. - Each industrial development board now or hereafter organized under the...
Section 11-54-98 - Exemption of Boards - Competitive Bid Laws. - The industrial development board and all contracts made by it...
Section 11-54-99 - Validation of Attempted Incorporation of Certain Industrial Development Boards. - In all cases where there has heretofore been an attempt...
Section 11-54-100 - Construction of Division. - (a) Neither this division nor anything contained in this division...
Section 11-54-101 - Powers Cumulative; Administrative Fees. - (a) The powers conferred by this division shall be cumulative...
Division 2 - Ancillary Facilities.
Section 11-54-120 - Definitions. - Wherever used in this division, unless a different meaning clearly...
Section 11-54-121 - Legislative Intent; Liberal Construction. - It is the intent of the Legislature by passage of...
Section 11-54-122 - Additional Powers of Industrial Development Boards; Powers With Respect to Ancillary Facilities. - In addition to all other powers at any time conferred...
Section 11-54-123 - Powers Cumulative. - The powers conferred by this division shall be cumulative of...
Division 3 - Endowment Trust Funds.
Section 11-54-125 - Definitions. - As used in this division, the following terms shall have...
Section 11-54-126 - Legislative Findings and Intent. - (a) The Legislature hereby finds and declares all of the...
Section 11-54-127 - Additional Powers of Boards. - (a) In addition to all other powers conferred on it...
Section 11-54-128 - Authorizing Resolution. - (a) In order to provide for the establishment of an...
Section 11-54-129 - Use of Assets. - (a) Subject to succeeding provisions hereof with respect to the...
Section 11-54-130 - Investment Committee. - (a) There shall be, with respect to an endowment trust...
Section 11-54-131 - Investment of Moneys; Duties of Fund Manager. - (a) Moneys held in and forming a part of an...
Section 11-54-132 - Trust Agreement. - Each trust agreement shall obligate each trustee bank that is...
Section 11-54-133 - Termination or Dissolution of Fund. - Upon the termination or dissolution of an endowment trust fund,...
Section 11-54-134 - Liability. - No member of an investment committee shall in any way...
Section 11-54-135 - Powers Cumulative. - The powers conferred by this division shall be cumulative of...
Article 5 - Acquisition, etc., of Projects for Promotion of Hotel Services and Other Businesses Generally in Certain Municipalities.
Section 11-54-140 - Definitions. - Wherever used in this article, unless a different meaning clearly...
Section 11-54-141 - Legislative Intent; Liberal Construction. - It is the intent of the Legislature by the passage...
Section 11-54-142 - Additional Powers Conferred on Municipalities. - In addition to any other powers which it may now...
Section 11-54-143 - Bonds Issued to Finance Projects. - All bonds issued by a municipality under authority of this...
Section 11-54-144 - Security for Bonds. - The principal of and interest on any bonds issued under...
Section 11-54-145 - Requirements Respecting Leases. - Prior to the leasing of any project, the governing body...
Section 11-54-146 - Refunding Bonds. - Any bonds issued hereunder and at any time outstanding may...
Section 11-54-147 - Use of Proceeds From Sale of Bonds; Cost of Acquiring Project. - The proceeds from the sale of any bonds issued under...
Section 11-54-148 - No Contribution by Municipality. - No municipality shall have the power to pay out of...
Section 11-54-149 - Bonds Made Legal Investments. - Bonds issued under the provisions of this article shall be...
Section 11-54-150 - Exemption From Taxation. - The bonds authorized by this article and the income therefrom,...
Section 11-54-151 - Construction of Article. - Neither this article nor anything herein contained shall be construed...
Section 11-54-152 - No Notice or Publication Required. - No notice to or consent or approval by any governmental...
Section 11-54-153 - Exemption From Requirements of Sections 41-16-50 Through 41-16-63. - Any municipality when acting pursuant to the authority of this...
Article 6 - Commercial Development Authorities.
Section 11-54-170 - Legislative Intent; Liberal Construction. - It is the intent of the Legislature by the passage...
Section 11-54-171 - Definitions. - The following words and phrases used in this article shall,...
Section 11-54-172 - Meaning of "Herein," etc.; Construction of Definitions. - The following provisions shall be applied wherever appropriate herein: (1)...
Section 11-54-173 - Filing of Application; Contents; Authorization or Denial of Incorporation by Governing Body of Authorizing Municipality. - (a) A public corporation may be organized pursuant to the...
Section 11-54-174 - Procedure to Incorporate; Contents and Execution of Certificate of Incorporation; Filing. - Within 40 days following the adoption of an authorizing resolution...
Section 11-54-175 - Amendments to Certificate of Incorporation; Filing of Application; Approval or Denial by Governing Body; Filing and Recordation. - The certificate of incorporation of any authority incorporated under the...
Section 11-54-176 - Board of Directors; Composition; Election; Terms; Vacancies; Qualifications; Expenses; Removal. - Each authority shall be governed by a board of directors....
Section 11-54-177 - Officers of the Authority. - The officers of an authority shall consist of a chairman,...
Section 11-54-178 - Powers of Authority; Location of Projects; Public Meetings. - (a) An authority shall have the following powers, together with...
Section 11-54-179 - Bonds of Authority Generally. - (a) Source of payment. All bonds issued by an authority...
Section 11-54-180 - Proceeds From Sale of Bonds. - All moneys derived from the sale of any bonds issued...
Section 11-54-181 - Refunding Bonds. - Any bonds issued by an authority may from time to...
Section 11-54-182 - Notice of Bond Resolution; Limitation on Proceedings Questioning or Attacking Bonds. - Upon the adoption by the board of any authority of...
Section 11-54-183 - Exemption From Certain Taxes and Fees. - The income of any authority, all bonds issued by an...
Section 11-54-184 - Nonliability of Authorizing Municipality. - The authorizing municipality shall not in any event be liable...
Section 11-54-185 - Exemption From Usury and Interest Laws. - Each authority shall be exempt from the laws of the...
Section 11-54-186 - Exemption From Competitive Bid Laws. - Any authority and all contracts made by it shall be...
Section 11-54-187 - Freedom of Authority From State Supervision and Control. - This article is intended to aid the state through the...
Section 11-54-188 - Earnings of an Authority. - An authority shall be a nonprofit corporation and no part...
Section 11-54-189 - Dissolution of Authority and Vesting of Title to Property in Authorizing Municipality. - At any time when an authority has no bonds or...
Section 11-54-190 - Incorporation of Another Authority by Same Municipality. - The existence of an authority incorporated under the provisions of...
Section 11-54-191 - Continued Existence of Authority Notwithstanding Reclassification of Municipalities. - Any authority created hereunder shall continue in existence and shall...
Section 11-54-192 - Provisions of Article Cumulative. - The provisions of this article are cumulative and shall not...
Article 7 - Donation of Property to United States for Defense Purposes.
Section 11-54-210 - Legislative Findings and Declarations. - The Legislature hereby finds and declares as follows: (1) The...
Section 11-54-211 - Authority of Municipalities to Acquire Real Property for Donation to United States for Defense Purposes; Issuance of Bonds, etc., to Fund Purchase; Conveyance to "Related Public corporation." - Each municipality in this state is hereby authorized (a) to...