12-1741a.Location of facilities; letter of intent, resolution of
intent or inducement resolution; approval required, when.
(a) No city shall issue revenue bonds authorized herein to finance facilities
located outside the issuing city's limits without
such city having first received approval of
the issuance of a letter
of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds from
the board of county commissioners of the
county in which such facility is to be located. No city
shall issue revenue bonds authorized herein to finance facilities located
within the corporate limits of another city without the issuing city first
having received approval of
the issuance of a letter
of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds from
the governing body of the city in which the
facility is to be located.
(b) No city shall issue revenue bonds
authorized herein to finance a facility located outside the county or counties
in which any portion of such city is located without such city having first received
approval for the issuance of a letter of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds
from the board of county commissioners
of the county in which the facility is to be located.
(c) No city or county shall issue revenue bonds for facilities to be located
on property which is owned by another city or county without the issuing
city or county first having received approval of a letter of intent
or the adoption of a
resolution of intent or inducement resolution
to
issue such bonds from the governing body of the
city or county which owns the property.
(d) Approval of a board of county commissioners shall not be required
with respect to a letter of intent,
resolution of intent or inducement resolution
to issue revenue bonds to finance
construction of facilities located on real estate in which the city issuing
the revenue bonds has any title interest or in which any title interest is
in another entity which acquired such interest in the real estate in whole
or in part with funds of the city issuing the revenue bonds.
(e) The issuance of a letter of intent, resolution of intent or
inducement resolution shall be deemed to have
received the approval of a city or county for purposes of this section unless
such city or county provides the city or county proposing such
issuance with a written notification specifically disapproving the issuance
within seven business days after the next regular meeting of the governing body of the
city or county having such approval authority that follows receipt of a
request for approval.
(f) The provisions of this section requiring approval of a letter of
intent, resolution of intent or inducement resolution as a condition to
issuance of revenue bonds shall not be applicable
with respect to the issuance of any revenue bonds for which a city or
county has issued a letter of intent, resolution of intent or inducement
resolution prior to the effective date of this act.
History: L. 1980, ch. 68, § 6; L. 1981, ch. 74, § 4;
L. 1990, ch. 74, § 5; May 24.
12-1741a.Location of facilities; letter of intent, resolution of
intent or inducement resolution; approval required, when.
(a) No city shall issue revenue bonds authorized herein to finance facilities
located outside the issuing city's limits without
such city having first received approval of
the issuance of a letter
of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds from
the board of county commissioners of the
county in which such facility is to be located. No city
shall issue revenue bonds authorized herein to finance facilities located
within the corporate limits of another city without the issuing city first
having received approval of
the issuance of a letter
of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds from
the governing body of the city in which the
facility is to be located.
(b) No city shall issue revenue bonds
authorized herein to finance a facility located outside the county or counties
in which any portion of such city is located without such city having first received
approval for the issuance of a letter of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds
from the board of county commissioners
of the county in which the facility is to be located.
(c) No city or county shall issue revenue bonds for facilities to be located
on property which is owned by another city or county without the issuing
city or county first having received approval of a letter of intent
or the adoption of a
resolution of intent or inducement resolution
to
issue such bonds from the governing body of the
city or county which owns the property.
(d) Approval of a board of county commissioners shall not be required
with respect to a letter of intent,
resolution of intent or inducement resolution
to issue revenue bonds to finance
construction of facilities located on real estate in which the city issuing
the revenue bonds has any title interest or in which any title interest is
in another entity which acquired such interest in the real estate in whole
or in part with funds of the city issuing the revenue bonds.
(e) The issuance of a letter of intent, resolution of intent or
inducement resolution shall be deemed to have
received the approval of a city or county for purposes of this section unless
such city or county provides the city or county proposing such
issuance with a written notification specifically disapproving the issuance
within seven business days after the next regular meeting of the governing body of the
city or county having such approval authority that follows receipt of a
request for approval.
(f) The provisions of this section requiring approval of a letter of
intent, resolution of intent or inducement resolution as a condition to
issuance of revenue bonds shall not be applicable
with respect to the issuance of any revenue bonds for which a city or
county has issued a letter of intent, resolution of intent or inducement
resolution prior to the effective date of this act.
History: L. 1980, ch. 68, § 6; L. 1981, ch. 74, § 4;
L. 1990, ch. 74, § 5; May 24.
12-1741a.Location of facilities; letter of intent, resolution of
intent or inducement resolution; approval required, when.
(a) No city shall issue revenue bonds authorized herein to finance facilities
located outside the issuing city's limits without
such city having first received approval of
the issuance of a letter
of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds from
the board of county commissioners of the
county in which such facility is to be located. No city
shall issue revenue bonds authorized herein to finance facilities located
within the corporate limits of another city without the issuing city first
having received approval of
the issuance of a letter
of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds from
the governing body of the city in which the
facility is to be located.
(b) No city shall issue revenue bonds
authorized herein to finance a facility located outside the county or counties
in which any portion of such city is located without such city having first received
approval for the issuance of a letter of intent
or the adoption of a
resolution of intent or inducement resolution
to issue such bonds
from the board of county commissioners
of the county in which the facility is to be located.
(c) No city or county shall issue revenue bonds for facilities to be located
on property which is owned by another city or county without the issuing
city or county first having received approval of a letter of intent
or the adoption of a
resolution of intent or inducement resolution
to
issue such bonds from the governing body of the
city or county which owns the property.
(d) Approval of a board of county commissioners shall not be required
with respect to a letter of intent,
resolution of intent or inducement resolution
to issue revenue bonds to finance
construction of facilities located on real estate in which the city issuing
the revenue bonds has any title interest or in which any title interest is
in another entity which acquired such interest in the real estate in whole
or in part with funds of the city issuing the revenue bonds.
(e) The issuance of a letter of intent, resolution of intent or
inducement resolution shall be deemed to have
received the approval of a city or county for purposes of this section unless
such city or county provides the city or county proposing such
issuance with a written notification specifically disapproving the issuance
within seven business days after the next regular meeting of the governing body of the
city or county having such approval authority that follows receipt of a
request for approval.
(f) The provisions of this section requiring approval of a letter of
intent, resolution of intent or inducement resolution as a condition to
issuance of revenue bonds shall not be applicable
with respect to the issuance of any revenue bonds for which a city or
county has issued a letter of intent, resolution of intent or inducement
resolution prior to the effective date of this act.
History: L. 1980, ch. 68, § 6; L. 1981, ch. 74, § 4;
L. 1990, ch. 74, § 5; May 24.