PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1243.Same; contracts; rentals; conditions and safeguards; annual
audit, filing.
The governing body of such city is hereby empowered and authorized to
enter into an agreement in writing with any person, firm or corporation
to erect and construct on its public levee, improvements and facilities
authorized and mentioned in this act and lease the same for a term of
not to exceed ninety-nine (99) years for such rental and upon such conditions
as in the judgment of such governing body will be to the best interest
of such city, provided the rent fixed by any such agreement and lease
shall be sufficient to liquidate and pay all expenses of the city
connected therewith and the principal and interest of all revenue bonds
issued or to be issued to pay the full cost of such improvements and
facilities so leased. The governing body of
any such city shall observe the following conditions and safeguards:
(a) All authorized and executed leases, agreements or documents,
photostatic or sworn copies thereof concerning construction, alteration,
repairs or terms of rental of any public levee, in whole or in part and
improvements thereon, shall be filed with the city clerk of any such
city and shall be open to public inspection; and
(b) the governing body of each city which has issued
revenue bonds for the improvement of any public levee, shall
cause an audit to be made
annually by a licensed municipal public accountant or certified public
accountant of the operations of any revenue-producing public levee in this
state. Within one year after the end of the audit period of the audit, a
copy of the audit report shall be filed with the
clerk of such city and shall be open to public inspection.
History: L. 1933, ch. 43, § 6 (Special Session); L. 1945, ch.
117, § 1; L. 1980, ch. 64, § 3; July 1.
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1243.Same; contracts; rentals; conditions and safeguards; annual
audit, filing.
The governing body of such city is hereby empowered and authorized to
enter into an agreement in writing with any person, firm or corporation
to erect and construct on its public levee, improvements and facilities
authorized and mentioned in this act and lease the same for a term of
not to exceed ninety-nine (99) years for such rental and upon such conditions
as in the judgment of such governing body will be to the best interest
of such city, provided the rent fixed by any such agreement and lease
shall be sufficient to liquidate and pay all expenses of the city
connected therewith and the principal and interest of all revenue bonds
issued or to be issued to pay the full cost of such improvements and
facilities so leased. The governing body of
any such city shall observe the following conditions and safeguards:
(a) All authorized and executed leases, agreements or documents,
photostatic or sworn copies thereof concerning construction, alteration,
repairs or terms of rental of any public levee, in whole or in part and
improvements thereon, shall be filed with the city clerk of any such
city and shall be open to public inspection; and
(b) the governing body of each city which has issued
revenue bonds for the improvement of any public levee, shall
cause an audit to be made
annually by a licensed municipal public accountant or certified public
accountant of the operations of any revenue-producing public levee in this
state. Within one year after the end of the audit period of the audit, a
copy of the audit report shall be filed with the
clerk of such city and shall be open to public inspection.
History: L. 1933, ch. 43, § 6 (Special Session); L. 1945, ch.
117, § 1; L. 1980, ch. 64, § 3; July 1.
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS
Article 12.--PUBLIC UTILITIES
13-1243.Same; contracts; rentals; conditions and safeguards; annual
audit, filing.
The governing body of such city is hereby empowered and authorized to
enter into an agreement in writing with any person, firm or corporation
to erect and construct on its public levee, improvements and facilities
authorized and mentioned in this act and lease the same for a term of
not to exceed ninety-nine (99) years for such rental and upon such conditions
as in the judgment of such governing body will be to the best interest
of such city, provided the rent fixed by any such agreement and lease
shall be sufficient to liquidate and pay all expenses of the city
connected therewith and the principal and interest of all revenue bonds
issued or to be issued to pay the full cost of such improvements and
facilities so leased. The governing body of
any such city shall observe the following conditions and safeguards:
(a) All authorized and executed leases, agreements or documents,
photostatic or sworn copies thereof concerning construction, alteration,
repairs or terms of rental of any public levee, in whole or in part and
improvements thereon, shall be filed with the city clerk of any such
city and shall be open to public inspection; and
(b) the governing body of each city which has issued
revenue bonds for the improvement of any public levee, shall
cause an audit to be made
annually by a licensed municipal public accountant or certified public
accountant of the operations of any revenue-producing public levee in this
state. Within one year after the end of the audit period of the audit, a
copy of the audit report shall be filed with the
clerk of such city and shall be open to public inspection.
History: L. 1933, ch. 43, § 6 (Special Session); L. 1945, ch.
117, § 1; L. 1980, ch. 64, § 3; July 1.
