(1) Any such district shall have the power to provide funds for the purpose of constructing, acquiring, reconstructing, improving, bettering or extending the facilities of such district or for the purpose of buying, leasing or otherwise acquiring the assets and facilities of any nonprofit, nonshare corporation chartered under Title 79, Chapter 11, or any other utility district by the issuance of revenue bonds. Such bonds shall be payable solely and only from the revenues of such facilities, and such revenues may be pledged from a portion of the service area of the district to the support of debt service for a specific series or issue of bonds if such apportionment is economically feasible.
(2) Any such district shall have the power to provide funds, in addition to or in conjunction with the funds authorized in subsection (1) of this section, for water supply or pollution abatement projects by issuing special improvement pollution abatement bonds, special improvement water bonds, or combinations of special improvement water and sewer bonds, if the resolution creating the district authorized the governing bodies of the local governmental bodies to make assessments against benefitted properties as outlined in Section 51-8-45. Such bonds shall be payable solely and only from charges assessed to benefitted properties as outlined in said Section 51-8-45.
Sources: Laws, 1985, ch. 481, § 18, eff from and after July 1, 1985.
(1) Any such district shall have the power to provide funds for the purpose of constructing, acquiring, reconstructing, improving, bettering or extending the facilities of such district or for the purpose of buying, leasing or otherwise acquiring the assets and facilities of any nonprofit, nonshare corporation chartered under Title 79, Chapter 11, or any other utility district by the issuance of revenue bonds. Such bonds shall be payable solely and only from the revenues of such facilities, and such revenues may be pledged from a portion of the service area of the district to the support of debt service for a specific series or issue of bonds if such apportionment is economically feasible.
(2) Any such district shall have the power to provide funds, in addition to or in conjunction with the funds authorized in subsection (1) of this section, for water supply or pollution abatement projects by issuing special improvement pollution abatement bonds, special improvement water bonds, or combinations of special improvement water and sewer bonds, if the resolution creating the district authorized the governing bodies of the local governmental bodies to make assessments against benefitted properties as outlined in Section 51-8-45. Such bonds shall be payable solely and only from charges assessed to benefitted properties as outlined in said Section 51-8-45.
Sources: Laws, 1985, ch. 481, § 18, eff from and after July 1, 1985.
(1) Any such district shall have the power to provide funds for the purpose of constructing, acquiring, reconstructing, improving, bettering or extending the facilities of such district or for the purpose of buying, leasing or otherwise acquiring the assets and facilities of any nonprofit, nonshare corporation chartered under Title 79, Chapter 11, or any other utility district by the issuance of revenue bonds. Such bonds shall be payable solely and only from the revenues of such facilities, and such revenues may be pledged from a portion of the service area of the district to the support of debt service for a specific series or issue of bonds if such apportionment is economically feasible.
(2) Any such district shall have the power to provide funds, in addition to or in conjunction with the funds authorized in subsection (1) of this section, for water supply or pollution abatement projects by issuing special improvement pollution abatement bonds, special improvement water bonds, or combinations of special improvement water and sewer bonds, if the resolution creating the district authorized the governing bodies of the local governmental bodies to make assessments against benefitted properties as outlined in Section 51-8-45. Such bonds shall be payable solely and only from charges assessed to benefitted properties as outlined in said Section 51-8-45.
Sources: Laws, 1985, ch. 481, § 18, eff from and after July 1, 1985.
