Title 14, Local Government

This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes of it.

(a) (1) Any municipality or any county is authorized to create one (1) or more public facilities boards and to empower each board to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in or dispose …

(a) Each public facilities board shall be created by ordinance of the governing body. The ordinance:(1) Shall give the board a name which:(A) Shall include the name of the creating municipality or county;(B) Shall be descriptive of the powers granted to the board; and(C) Shall be…

(a) (1) Each public facilities board shall consist of five (5) members unless there is an expansion of the board to provide services outside the boundaries of the governmental unit from which it obtains power.(2) The provisions of this subsection are applicable only to:(A) Boards…

(a) (1) The members of each public facilities board shall meet and organize by electing one (1) of their number as chairman, one (1) as vice chairman, one (1) as secretary, and one as treasurer, and such officers shall be elected annually thereafter in like manner.(2) The duties …

(a) (1) Each public facilities board shall meet upon the call of its chairman, or a majority of its members, and at such times as may be specified in its bylaws for regular meetings. A majority of its members shall constitute a quorum for the transaction of business.(2) The affir…

(a) Each public facilities board is authorized and empowered:(1) To have perpetual succession as a body politic and corporate and to adopt bylaws for the regulation of its affairs and the conduct of its business;(2) To adopt an official seal and alter it at pleasure;(3) To mainta…

(a) Any municipality or county may acquire facilities for a public facilities project, or any portion thereof, including a project site, by gift, purchase, lease, or condemnation, and may transfer any such facilities to a public facilities board created by the municipality or cou…

Any public facilities board organized under the provisions of this chapter is authorized and empowered to include in the public facilities projects granted to the board, facilities for postsecondary education and occupational training programs, unless the ordinance creating the b…

It is declared that each public facilities board created pursuant to this chapter will be performing public functions and will be a public instrumentality of the municipality or county creating the board. Accordingly, all properties at any time owned by the board and the income t…

(a) Public facilities boards are authorized to use any available funds and revenues for the accomplishment of all or a portion of public facilities projects and may issue bonds, as authorized by this chapter, for the accomplishment of all or a portion of public facilities project…

(a) (1) The issuance of bonds shall be by resolution of the public facilities board.(2) As the resolution authorizing their issuance may provide, the bonds may:(A) Be coupon bonds payable to bearer, but subject to registration as to principal or as to principal and interest;(B) B…

(a) Bonds may be issued for the purpose of refunding any obligations issued under this chapter. Such refunding bonds may be combined with bonds issued under the provisions of § 14-137-116 into a single issue. (b) When bonds are issued under this section for refunding purposes, th…

Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality, or the board of tru…

Bonds issued under this chapter and the income therefrom shall be exempt from all state, county, and municipal taxes. This exemption includes income and estate taxes.

(a) It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, that the bonds are obligations only of the public facilities board, and that in no event shall they constitute an indebtedness for which the faith and credit of t…

(a) The resolution or indenture referred to in § 14-137-116 may, or may not, impose a foreclosable mortgage lien upon or security interest in all or any portion of the lands, buildings, or facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole …

(a) (1) In the event of a default in the payment of the principal of or interest on any bonds issued under the provisions of this chapter, any court having jurisdiction may appoint a receiver to take charge of the public facilities project upon or in which there is a mortgage lie…

(a) Within the first ninety (90) days of each calendar year, each public facilities board shall make a written report to the governing body of the municipality or county which created the board concerning its activities for the preceding calendar year. (b) Each report shall set f…