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CHAPTER 1-16B

ECONOMIC DEVELOPMENT FINANCE AUTHORITY

1-16B-1      Definition of terms.
1-16B-2      Repealed.
1-16B-3      Development project defined.
1-16B-4      Cost of establishing a development project defined.
1-16B-5      Repealed.
1-16B-6      Enterprise defined.
1-16B-7      Finance authority created.
1-16B-8      Board of directors--Appointment of members.
1-16B-9      Quorum of board--Action by majority present.
1-16B-10      Commissioner as chief administrative officer.
1-16B-11      Staff services to authority--Funds from which expenses paid.
1-16B-12      Transfer of income from capital reserve fund to a general account--Continuous appropriation for purposes of chapter.
1-16B-13      Obsolete.
1-16B-14      Powers of authority.
1-16B-14.1      Exemption of documentary material and data involving trade secrets, etc., from disclosure--Consideration by authority in executive session.
1-16B-15      Power to issue notes and bonds--Maximum outstanding.
1-16B-16      Issuance, renewal, payment, and refunding of notes and bonds--Application of proceeds of refunding bonds.
1-16B-17      Notes and bonds as general obligations of authority--Funds from which payable.
1-16B-18      Terms of notes and bonds--Maturity--Interest--Registration--Redemption--Sale.
1-16B-19      State pledge not to impair powers of authority--Inclusion in terms of notes or bonds.
1-16B-20      Obligations payable only from assets of authority--Statement on face of obligations.
1-16B-21      Repurchase and cancellation of notes and bonds--Maximum price paid.
1-16B-22      Issuance of refunding obligations--Terms governed by chapter.
1-16B-23      Disposition of refunding obligations--Application or investment of proceeds.
1-16B-24      Bonds and notes as legal investments for public and fiduciary funds.
1-16B-25      Appointment of trustee on default in payment of bonds or notes.
1-16B-26      Trustee's powers in protection of bondholders or noteholders.
1-16B-27      Notice required of trustee before declaring principal due.
1-16B-28      Incidental powers of trustee.
1-16B-29      Capital reserve fund required--Moneys paid in.
1-16B-30      Amounts required in capital reserve fund.
1-16B-31      Application of capital reserve fund--Transfer of income.
1-16B-32      Bonds and notes not issued when capital reserve below required amount.
1-16B-33      Annual budget estimate for restoration of capital reserve fund--Governor's budget--Application of appropriated funds.
1-16B-34      Establishment of loan funds--Investment.
1-16B-35      Cooperation with local agencies.
1-16B-36      Determination of desirability of development projects.
1-16B-37      Power to make loans to local agencies--Repayment provisions.
1-16B-38      Maximum loan to local agency--Vote required for approval.
1-16B-39      Repealed.
1-16B-40      Application by local agency for loan--Contents.
1-16B-41      Loans made only when other loans not available.
1-16B-42      Preference to projects for processing raw materials produced in state.


1-16B-43      Maximum percentage of cost loaned to local agency--Assurances as to other financing.
1-16B-44      Adjustment of local funding requirements when federal agency participates--Subordination to mortgage held by federal agency.
1-16B-45      Pledge to United States not to impair powers of authority.
1-16B-46      Terms of loan to local agency--Subordination to other loans.
1-16B-47      Foreclosure to take title to development project--Sale or lease.
1-16B-48      Annual reports of authority--Contents.
1-16B-49      Cumulative rights and powers of authority.
1-16B-50      Annual action plan--Annual informational report.
1-16B-51      Repealed.
1-16B-52      Issuance of bonds and obligations--Additional proceedings not required--Transferred rights, powers, privileges, and functions supplementary--Liberal construction.
1-16B-53      Preferred development project defined.
1-16B-54      Direct mortgage loans for preferred development projects.
1-16B-55      Authority may contract to manage payment or interest rate risk for bonds.


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