Chapter 16B - ECONOMIC DEVELOPMENT FINANCE AUTHORITY

Section 1-16B-1 - Definitions
Section 1-16B-2 - [Repealed]
Section 1-16B-3 - [Repealed]
Section 1-16B-4 - [Repealed]
Section 1-16B-5 - [Repealed]
Section 1-16B-6 - [Repealed]
Section 1-16B-7 - Finance authority created
Section 1-16B-8 - Board of directors-Appointment of members
Section 1-16B-9 - Quorum of board-Action by majority present
Section 1-16B-10 - Commissioner as chief administrative officer
Section 1-16B-11 - Staff services to authority-Funds from which expenses paid
Section 1-16B-12 - Transfer of income from capital reserve fund to a general account-Continuous appropriation for purposes of chapter
Section 1-16B-13 - Obsolete
Section 1-16B-14 - Powers of authority
Section 1-16B-14.1 - Exemption of documentary material and data involving trade secrets, etc., from disclosure-Consideration by authority in executive session
Section 1-16B-15 - Power to issue notes and bonds-Maximum outstanding
Section 1-16B-16 - Issuance, renewal, payment, and refunding of notes and bonds-Application of proceeds of refunding bonds
Section 1-16B-17 - Notes and bonds as general obligations of authority-Funds from which payable
Section 1-16B-18 - Terms of notes and bonds-Maturity-Interest-Registration-Redemption-Sale
Section 1-16B-19 - State pledge not to impair powers of authority-Inclusion in terms of notes or bonds
Section 1-16B-20 - Obligations payable only from assets of authority-Statement on face of obligations
Section 1-16B-21 - Repurchase and cancellation of notes and bonds-Maximum price paid
Section 1-16B-22 - Issuance of refunding obligations-Terms governed by chapter
Section 1-16B-23 - Disposition of refunding obligations-Application or investment of proceeds
Section 1-16B-24 - Bonds and notes as legal investments for public and fiduciary funds
Section 1-16B-25 - Appointment of trustee on default in payment of bonds or notes
Section 1-16B-26 - Trustee's powers in protection of bondholders or noteholders
Section 1-16B-27 - Notice required of trustee before declaring principal due
Section 1-16B-28 - Incidental powers of trustee
Section 1-16B-29 - Capital reserve fund required-Moneys paid in
Section 1-16B-30 - Amounts required in capital reserve fund
Section 1-16B-31 - Application of capital reserve fund-Transfer of income
Section 1-16B-32 - Bonds and notes not issued when capital reserve below required amount
Section 1-16B-33 - Annual budget estimate for restoration of capital reserve fund-Governor's budget-Application of appropriated funds
Section 1-16B-34 - Establishment of loan funds-Investment
Section 1-16B-35 - Cooperation with local agencies
Section 1-16B-36 - Determination of desirability of development projects
Section 1-16B-37 - Power to make loans to local agencies-Repayment provisions
Section 1-16B-38 - Maximum loan to local agency-Vote required for approval
Section 1-16B-39 - [Repealed]
Section 1-16B-40 - Application by local agency for loan-Contents
Section 1-16B-41 - Loans made only when other loans not available
Section 1-16B-42 - Preference to projects for processing raw materials produced in state
Section 1-16B-43 - Maximum percentage of cost loaned to local agency-Assurances as to other financing
Section 1-16B-44 - Adjustment of local funding requirements when federal agency participates-Subordination to mortgage held by federal agency
Section 1-16B-45 - Pledge to United States not to impair powers of authority
Section 1-16B-46 - Terms of loan to local agency-Subordination to other loans
Section 1-16B-47 - Foreclosure to take title to development project-Sale or lease
Section 1-16B-48 - Annual reports of authority-Contents
Section 1-16B-49 - Cumulative rights and powers of authority
Section 1-16B-50 - Annual action plan-Annual informational report
Section 1-16B-51 - [Repealed]
Section 1-16B-52 - Issuance of bonds and obligations-Additional proceedings not required-Transferred rights, powers, privileges, and functions supplementary-Liberal construction
Section 1-16B-53 - Preferred development project defined
Section 1-16B-54 - Direct mortgage loans for preferred development projects
Section 1-16B-55 - Authority may contract to manage payment or interest rate risk for bonds
Section 1-16B-56 - Value Added Finance Authority Abolished-Duties and responsibilities transferred-Economic Development Finance Authority and Board of Economic Development
Section 1-16B-57 - Duties and goals-Agricultural production
Section 1-16B-58 - Lending power of authority
Section 1-16B-59 - Bond authorization, terms, and sale-Interest rate-Noninterest-bearing bonds
Section 1-16B-60 - Pledges by authority
Section 1-16B-61 - Redemption of bonds
Section 1-16B-62 - Trust indenture securing authority bonds
Section 1-16B-63 - Proceeds of bonds-Investments
Section 1-16B-64 - Bonds as negotiable instruments
Section 1-16B-65 - Execution of bonds-Seal
Section 1-16B-66 - Immunity from personal liability on bonds
Section 1-16B-67 - Conflict of interest -Disclosure-Participation in transaction
Section 1-16B-68 - Tax exemption-Filing fee exemption
Section 1-16B-69 - Bonds as authorized investments and securities for deposits
Section 1-16B-70 - Promulgation of rules
Section 1-16B-71 - Liberal construction of chapter
Section 1-16B-72 - Disposition of authority assets on dissolution
Section 1-16B-73 - Compliance with Internal Revenue Code