Codified Laws

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11-11-1      Legislative findings.
11-11-2      Declaration of necessity for development authority.
11-11-3      Powers necessary for development authority.
11-11-4      Declaration of public purposes and public interest.
11-11-5      Definition of terms.
11-11-5.1      Repealed.
11-11-6      Developments and projects subject to chapter.
11-11-7      Sponsors eligible under chapter.
11-11-8      Repealed.
11-11-9      Costs covered by chapter.
11-11-10      Development authority established--Administrator of federal housing program.
11-11-11      Reporting to Governor's Office of Economic Development.
11-11-12      Appointment of commissioners--Political affiliations.
11-11-13      State officers and employees eligible as commissioners.
11-11-14      Corporate officers and employees eligible as commissioners--Abstention on conflict of interests.
11-11-15      Terms of office of commissioners--Vacancy--Restrictions on reappointment.
11-11-16      Surety bonds of commissioners and executive director--Blanket bond--Payment of cost.
11-11-17      Removal of commissioner from office.
11-11-18      Officers of commissioners.
11-11-19      Meetings of commissioners--Quorum--Majority required for action.
11-11-20      Compensation of commissioners.
11-11-21      Executive director--Appointment and duties--Other personnel.
11-11-22      Salaries.
11-11-23      Benefits of state employees provided.
11-11-24      Records maintained by secretary--Certified copies--Publication of resolutions.
11-11-25      Powers of local commissions conferred upon authority--Approval by local governing body required--Cooperation with local commissions.
11-11-26      Power to carry out chapter.
11-11-27      Power to sue and be sued--Seal--Perpetual succession--Office.
11-11-28      Consolidation of processing for developments and projects.
11-11-29      Policy favoring private business firms.
11-11-30      Bylaws, rules, and regulations.
11-11-31      Research and development.
11-11-32      Repealed.
11-11-33      Advice and technical assistance to developments, projects and residents.
11-11-34      Cooperation with federal and other governmental agencies.
11-11-35      Repealed.
11-11-36      Execution of necessary instruments.
11-11-37      Acceptance of legislative appropriations--Purposes to which applied.
11-11-38      Annual informational budget required--Inclusion in Governor's budget report.
11-11-39      Acceptance of grants and contributions--Purposes to which applied.

11-11-40      Residual powers of authority.
11-11-41      Power to borrow and issue evidence of indebtedness.
11-11-42      Financing, reserves, and incidental costs included in amounts borrowed.
11-11-43      Issuance of notes and bonds--Purposes for which used.
11-11-44      Repealed.
11-11-45      Qualified private activity bonds--Maximum aggregate principal amount.
11-11-46      Repealed.
11-11-47      Authority as state issuing agency and housing credit agency.
11-11-48      Compliance with federal conditions for qualified mortgage bonds.
11-11-49      Public debt not created by authority obligations--Statement on face of obligations.
11-11-50      Refunding of notes and bonds.
11-11-51      Consent of other public agencies not required for bonds or notes--Procedural requirements of other laws not applicable.
11-11-52      Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.
11-11-53      Notes and bonds as general obligations of authority--Exception.
11-11-54      Bond resolution provisions--Contracts with bondholders.
11-11-55 to 11-11-64. Repealed.
11-11-65      Trust indenture to secure bonds--Contents--Expenses of trust indenture--Separate trustee not authorized.
11-11-66      Pledge binding when made--Attachment of lien.
11-11-67      Continuing validity of signatures by commissioners or officers.
11-11-68      Repealed.
11-11-69      Purpose of capital reserve fund requirements.
11-11-70      Establishment of capital reserve funds--Moneys paid into funds.
11-11-71      Amount required in capital reserve fund for each year.
11-11-72      Valuation of securities held by capital reserve funds.
11-11-73      Transfer to other funds of capital reserve fund income.
11-11-74      Purposes to which moneys in reserve funds applied--Maintenance of required amount.
11-11-75      Deposit in reserve fund of bond proceeds necessary to maintain required amount.
11-11-76      Annual budget estimate for restoration of capital reserve fund--Governor's budget--Deposit of appropriated funds.
11-11-77      Other funds created by authority.
11-11-78      Purchase of authority's own bonds--Cancellation--Resale.
11-11-79      Price of bonds repurchased for cancellation.
11-11-80      Refunding obligations authorized--Application of provisions applicable to original obligations.
11-11-81      Sale or exchange of refunding obligations--Investment of proceeds pending redemption of original obligations.
11-11-82      Compliance with certain other state laws not required.
11-11-83      Appointment of trustee by bondholders after authority default.
11-11-84      Enforcement of bondholders' rights.
11-11-85 to 11-11-90. Repealed.
11-11-91      Circuit court jurisdiction of proceedings by trustee.
11-11-92      Repealed.
11-11-93      State pledge to bondholders.
11-11-94      Commissioners and executive director not personally liable.
11-11-95      Negotiability of bonds.
11-11-96      Securities regulation--Bonds treated as securities of state instrumentality.
11-11-97      Bonds as legal investments for financial institutions and fiduciaries.
11-11-97.1      Authority may contract to manage payment or interest rate risk for bonds.
11-11-98      Investment of authority funds.
11-11-99      Repealed.
11-11-100      Acquisition and disposition of property.
11-11-101      Exemption of authority from taxes, recording fees and transfer taxes.
11-11-102      Contracts--Mortgage loans--Foreclosure.
11-11-103 to 11-11-108. Repealed.
11-11-109      Repealed.
11-11-110 to 11-11-112. Repealed.
11-11-113      Repealed.
11-11-114      Confidentiality of applications and financial information.
11-11-115      Applications--Signatures and certification required--Perjury.
11-11-116      Repealed.
11-11-117      Construction to be substantially completed, or final insurance or guarantee certificate issued before loan disbursed.
11-11-118      Additional lending powers of authority.
11-11-119      Purchase of mortgages from mortgage lenders.
11-11-120      Purchase of securities from mortgage lenders.
11-11-121      Repealed.
11-11-122      Loans to mortgage lenders for new residential mortgages.
11-11-123      Requirements for transactions with mortgage lenders.
11-11-124      Eligibility of obligations purchased from mortgage lenders for purchase or purchase commitment--Criteria.
11-11-125      Repealed.
11-11-126 to 11-11-133. Repealed.
11-11-134      Purchase of federally insured housing mortgages.
11-11-135      Sale or transfer of mortgage loan or obligation.
11-11-136      Repealed.
11-11-137      Court actions to enforce loans or protect the public interest--Foreclosure.
11-11-138      Receiver appointed to safeguard authority's loan.
11-11-139      Reorganization of housing sponsor subject to control by authority.
11-11-140      Notice to authority before sale of real property on judgment against housing sponsor--Protective steps taken by authority.
11-11-141      Promulgation of rules regarding borrowers, admission of occupants, and ancillary commercial facilities.
11-11-142, 11-11-143. Repealed.
11-11-144      Provisions governing loans and other financing to sponsors of multifamily units and day-care facilities.
11-11-145 to 11-11-147. Repealed.
11-11-148      Loans restricted to sponsors meeting statutory definition.
11-11-149      Amount and amortization period of FHA loans.
11-11-150      Amount and amortization of non-FHA loans.
11-11-151      Terms and form of loans or other financing--Investment in multifamily residential housing projects and day-care facilities.
11-11-152      Interest rates on which loans made--Additional charges.
11-11-153      Repealed.
11-11-154      Repealed.
11-11-155      Surety bonds and other assurances of payment and performance.
11-11-156 to 11-11-160. Repealed.
11-11-161      Conditions of mortgage loan or other financing.
11-11-162      Repealed.
11-11-163      Supervision of multifamily residential housing units and day-care facilities.
11-11-164 to 11-11-166. Repealed.
11-11-167      Repealed.
11-11-168, 11-11-169. Repealed.
11-11-170 to 11-11-174.      Repealed.
11-11-175 to 11-11-178. Repealed.
11-11-179      Retirement and redemption of investments in sponsor of multifamily units and day-care facilities.
11-11-180      General power to make rules and regulations.
11-11-181      Annual report by authority to Governor and Legislature.
11-11-182      Annual audit of authority.
11-11-183      Chapter cumulative and supplemental to other laws.
11-11-184      Chapter controlling over other laws.
11-11-185      Citation of chapter.
11-11-186 to 11-11-188. Repealed.
11-11-189      Repealed.

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