PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1238.Revenue bonds for public levees, docks, wharves, terminals
and related facilities in cities over 115,000; additional bonds.
The governing body of any city in this state having a population of
at least 115,000 is hereby authorized,
without any election
or vote of the people, to issue and sell revenue bonds of such city as
hereinafter defined and described in the manner provided by the general
bond law, to secure funds to provide the cost of
improving, constructing, reconstructing or repairing public levees, docks,
wharves, river terminals, grain elevator terminal docks, and such works,
storage, structures, facilities and properties as in the judgment of
the governing body is necessary or convenient for the
accommodation of
shipping by highways, pipelines, rail or water, in connection with
commerce or water transportation on the navigable river or rivers adjoining
such public levees. The governing body of any such city
which has issued and sold revenue bonds under the provisions of this
act, is hereby authorized to issue additional revenue bonds
in conformity with this act for the purpose aforesaid and to pledge for the
payment of such additional revenue bonds the revenues of the public levee
and the facilities connected therewith, together with the revenues from any
improvements and extensions to the public levee. No additional revenue
bonds shall be issued and
sold if there is an
issue of revenue bonds outstanding for the payment of which the revenues of
the public levee and the facilities connected therewith have been pledged
unless the governing body of such city, the holder or holders of all such
outstanding revenue bonds consenting, shall take up and pay for or make an
exchange for such outstanding issue of revenue bonds at a price of not to
exceed the par value thereof, plus interest accrued on such bonds at the
interest rate of such bonds from the interest payment
date preceding the date of payment of
the purchase price to the date of payment of the purchase price, plus a
premium, if any, of not to exceed 1% of the par value of such
outstanding revenue bonds or make an exchange for such issue of outstanding
revenue bonds. Additional revenue bonds issued and sold under the authority
of this act shall be in an amount necessary to take up and pay for the
issue of outstanding revenue bonds or make an exchange for such issue of
outstanding revenue bonds as aforesaid, plus an amount necessary to finance
or aid in financing the cost of additional improvements, construction,
reconstruction or repairs of the public levees, docks, wharves, river
terminals, grain elevator terminal docks, and such works, storage,
structures, facilities and properties as in the judgment of the governing
body will be necessary or convenient for the accommodation of shipping by
highways, pipelines, rail or water, in connection with commerce or water
transportation on the navigable river or rivers adjoining such public
levee.
History: L. 1933, ch. 43, § 1 (Special Session); L. 1937, ch. 135,
§ 1; L. 1983, ch. 49, § 58; May 12.
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1238.Revenue bonds for public levees, docks, wharves, terminals
and related facilities in cities over 115,000; additional bonds.
The governing body of any city in this state having a population of
at least 115,000 is hereby authorized,
without any election
or vote of the people, to issue and sell revenue bonds of such city as
hereinafter defined and described in the manner provided by the general
bond law, to secure funds to provide the cost of
improving, constructing, reconstructing or repairing public levees, docks,
wharves, river terminals, grain elevator terminal docks, and such works,
storage, structures, facilities and properties as in the judgment of
the governing body is necessary or convenient for the
accommodation of
shipping by highways, pipelines, rail or water, in connection with
commerce or water transportation on the navigable river or rivers adjoining
such public levees. The governing body of any such city
which has issued and sold revenue bonds under the provisions of this
act, is hereby authorized to issue additional revenue bonds
in conformity with this act for the purpose aforesaid and to pledge for the
payment of such additional revenue bonds the revenues of the public levee
and the facilities connected therewith, together with the revenues from any
improvements and extensions to the public levee. No additional revenue
bonds shall be issued and
sold if there is an
issue of revenue bonds outstanding for the payment of which the revenues of
the public levee and the facilities connected therewith have been pledged
unless the governing body of such city, the holder or holders of all such
outstanding revenue bonds consenting, shall take up and pay for or make an
exchange for such outstanding issue of revenue bonds at a price of not to
exceed the par value thereof, plus interest accrued on such bonds at the
interest rate of such bonds from the interest payment
date preceding the date of payment of
the purchase price to the date of payment of the purchase price, plus a
premium, if any, of not to exceed 1% of the par value of such
outstanding revenue bonds or make an exchange for such issue of outstanding
revenue bonds. Additional revenue bonds issued and sold under the authority
of this act shall be in an amount necessary to take up and pay for the
issue of outstanding revenue bonds or make an exchange for such issue of
outstanding revenue bonds as aforesaid, plus an amount necessary to finance
or aid in financing the cost of additional improvements, construction,
reconstruction or repairs of the public levees, docks, wharves, river
terminals, grain elevator terminal docks, and such works, storage,
structures, facilities and properties as in the judgment of the governing
body will be necessary or convenient for the accommodation of shipping by
highways, pipelines, rail or water, in connection with commerce or water
transportation on the navigable river or rivers adjoining such public
levee.
History: L. 1933, ch. 43, § 1 (Special Session); L. 1937, ch. 135,
§ 1; L. 1983, ch. 49, § 58; May 12.
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1238.Revenue bonds for public levees, docks, wharves, terminals
and related facilities in cities over 115,000; additional bonds.
The governing body of any city in this state having a population of
at least 115,000 is hereby authorized,
without any election
or vote of the people, to issue and sell revenue bonds of such city as
hereinafter defined and described in the manner provided by the general
bond law, to secure funds to provide the cost of
improving, constructing, reconstructing or repairing public levees, docks,
wharves, river terminals, grain elevator terminal docks, and such works,
storage, structures, facilities and properties as in the judgment of
the governing body is necessary or convenient for the
accommodation of
shipping by highways, pipelines, rail or water, in connection with
commerce or water transportation on the navigable river or rivers adjoining
such public levees. The governing body of any such city
which has issued and sold revenue bonds under the provisions of this
act, is hereby authorized to issue additional revenue bonds
in conformity with this act for the purpose aforesaid and to pledge for the
payment of such additional revenue bonds the revenues of the public levee
and the facilities connected therewith, together with the revenues from any
improvements and extensions to the public levee. No additional revenue
bonds shall be issued and
sold if there is an
issue of revenue bonds outstanding for the payment of which the revenues of
the public levee and the facilities connected therewith have been pledged
unless the governing body of such city, the holder or holders of all such
outstanding revenue bonds consenting, shall take up and pay for or make an
exchange for such outstanding issue of revenue bonds at a price of not to
exceed the par value thereof, plus interest accrued on such bonds at the
interest rate of such bonds from the interest payment
date preceding the date of payment of
the purchase price to the date of payment of the purchase price, plus a
premium, if any, of not to exceed 1% of the par value of such
outstanding revenue bonds or make an exchange for such issue of outstanding
revenue bonds. Additional revenue bonds issued and sold under the authority
of this act shall be in an amount necessary to take up and pay for the
issue of outstanding revenue bonds or make an exchange for such issue of
outstanding revenue bonds as aforesaid, plus an amount necessary to finance
or aid in financing the cost of additional improvements, construction,
reconstruction or repairs of the public levees, docks, wharves, river
terminals, grain elevator terminal docks, and such works, storage,
structures, facilities and properties as in the judgment of the governing
body will be necessary or convenient for the accommodation of shipping by
highways, pipelines, rail or water, in connection with commerce or water
transportation on the navigable river or rivers adjoining such public
levee.
History: L. 1933, ch. 43, § 1 (Special Session); L. 1937, ch. 135,
§ 1; L. 1983, ch. 49, § 58; May 12.