Title 8, Chapter 3, Section 70
( 8-3-70)
An authority shall have power to issue bonds from time to time, in
its discretion, for any of its corporate purposes. An authority
shall also have power to issue refunding bonds for the purpose of
paying or retiring bonds previously issued by it. An authority may
issue such types of bonds as it may determine, including bonds on
which the principal and interest are payable: (1) Exclusively from the income and revenues of the housing
project financed with the proceeds of such bonds, or with such
proceeds together with a grant from the federal government in aid
of such project; (2) Exclusively from the income and revenues of certain designated
housing projects whether or not they were financed in whole or in
part with the proceeds of such bonds; or (3) From its revenues generally. Any of such bonds may be additionally secured by a pledge of any
revenues or a mortgage of any housing project or projects or of any
other property of the authority. |