Title 14, Local Government

(a) Whenever the legislative body of any municipality shall determine to acquire, purchase, and construct exhibition grounds and buildings under the provisions of this chapter, it shall cause an estimate to be made of the cost thereof and by ordinance shall provide for the issuan…

(a) After the ordinance shall have been adopted, it shall be published one (1) time in a newspaper published in the municipality; or if there is no newspaper so published, then the ordinance shall be posted in at least three (3) public places therein, with a notice to all persons…

(a) The ordinance authorizing the issuance of the revenue bonds may contain provisions for the acceleration of the maturities of all unmatured bonds in the event of default in the payment of any principal or interest maturing under the bond issue, or upon failure to meet any sink…

(a) Bonds provided for in this chapter shall be issued in such amounts as may be necessary to provide sufficient funds to pay all costs of construction or acquisition, including engineering, legal, and other expenses, together with interest to a date six (6) months subsequent to …

All bonds of the entire issue, issued under the provisions of this chapter, shall be secured ratably and equally by the revenues of the entire and aggregate works financed by the bond issue.

(a) (1) There shall be a statutory mortgage lien upon the exhibition grounds and buildings acquired or constructed from the proceeds of bonds authorized by this chapter to be issued, which shall exist in favor of the holder of the bonds and each of them, and to and in favor of th…

(a) Rents or charges for the use of the exhibition grounds and buildings precedent to the issuance of bonds shall not be reduced until all of the bonds shall have been fully paid and may, whenever necessary, be increased in amounts sufficient to provide for the payment of the bon…

(a) (1) Any municipality issuing revenue bonds under the provisions of this chapter shall install and maintain a proper system of accounts, showing the amount of revenue received and the application of it.(2) At least once a year, the municipality shall cause the accounts to be p…

Bonds issued under the provisions of this chapter shall be payable solely from the revenues derived from the exhibition grounds and buildings. The bonds shall not, in any event, constitute an indebtedness of the municipality within the meaning of the constitutional provisions or …

(a) No obligation shall, or may, be incurred by the municipality in the construction or acquisition of the works contemplated by this chapter, or in the condemnation of property in connection therewith, except such as shall be payable solely from the funds to be acquired from the…

Revenue bonds issued under this chapter shall be exempt from all state, county, and municipal taxation. This exemption shall include income taxation, inheritance taxation, as well as all forms of property taxation.