§ 9-1-107. SAME—CONTENTS OF RESOLUTION AUTHORIZING ISSUANCE.

Any resolution or resolutions authorizing the issuance of any revenue bonds under this article may contain provisions which shall be part of the contract with the holders thereof and which may relate to the following:

(1)

Recital which may specify that the revenues received or to be received from the project or projects, the cost of which have or are to be financed from the proceeds of any issue of revenue bonds, certificates, or other evidence of indebtedness issued under this article may not be used to service any other revenue bonds authorized hereunder issued to finance the cost of any other project or projects;

(2)

Subject to the provisions of paragraph (1) of this section, the pledging of the full faith and credit of the authority (but not of the state or the county or any political subdivision thereof) for such obligations;

(3)

The construction, improvement, operation, extension, enlargement, equipping, furnishing, maintenance, and repair of any project or projects and the duties of the authority with reference thereto;

(4)

The terms and provisions of the bonds;

(5)

Any limitations on the purposes to which the proceeds of the bonds then or thereafter to be issued, or of any loan or grant by the United States may be applied;

(6)

The rate of tolls, rentals, and other charges for the use of the projects or the facilities of the authority or for the services rendered by the authority, including limitations upon the power of the authority to modify any leases or other agreements pursuant to which any tolls, rentals, or other charges are payable;

(7)

The setting aside of reserves or sinking funds and the regulation and disposition thereof;

(8)

The limitations on the issuance of additional bonds;

(9)

The terms and provisions of any deed of trust or indenture securing the bonds or under which the same may be used; and

(10)

Any other or additional agreements with holders of the bonds.

(1988 Code, § 30-7) (Bill No. 48-02, § 1, 7-1-2004)