CHAPTER 1-16B
ECONOMIC DEVELOPMENT FINANCE AUTHORITY
1-16B-1 Definitions.
1-16B-2 1-16B-2. Repealed by SL 1986, ch 14, § 2.
1-16B-3 Repealed
1-16B-4 Repealed
1-16B-5 1-16B-5. Repealed by SL 1986, ch 14, § 4.
1-16B-6 Repealed
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-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 1-16B-39. Repealed by SL 1986, ch 14, § 11.
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 1-16B-51. Repealed by SL 1995, ch 4, § 1.
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.
1-16B-56 Value Added Finance Authority Abolished--Duties and responsibilities transferred--Economic Development Finance Authority and Board of Economic Development.
1-16B-57 Duties and goals--Agricultural production.
1-16B-58 Lending power of authority.
1-16B-59 Bond authorization, terms, and sale--Interest rate--Noninterest-bearing bonds.
1-16B-60 Pledges by authority.
1-16B-61 Redemption of bonds.
1-16B-62 Trust indenture securing authority bonds.
1-16B-63 Proceeds of bonds--Investments.
1-16B-64 Bonds as negotiable instruments.
1-16B-65 Execution of bonds--Seal.
1-16B-66 Immunity from personal liability on bonds.
1-16B-67 Conflict of interest --Disclosure--Participation in transaction.
1-16B-68 Tax exemption--Filing fee exemption.
1-16B-69 Bonds as authorized investments and securities for deposits.
1-16B-70 Promulgation of rules.
1-16B-71 Liberal construction of chapter.
1-16B-72 Disposition of authority assets on dissolution.
1-16B-73 Compliance with Internal Revenue Code.