LEG00050

• Bill Number: SB03-236
• Year: 2003
• Title: Water Board Revenue Bonds
• Legislation - Doc Type: Other CWCB Related Bills - Passed

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37-60-209. Exemption from taxation. EXCEPT AS OTHERWISE

PROVIDED IN THIS SECTION, THE INCOME FROM REVENUE BONDS IS EXEMPT

FROM ALL TAXATION AND ASSESSMENTS IN THIS STATE. IN THE

RESOLUTION, CERTIFICATE, INDENTURE OF TRUST, OR OTHER INSTRUMENT

AUTHORIZING THE ISSUANCE OF SUCH BONDS, THE BOARD MAY WAIVE THE

EXEMPTION FROM FEDERAL OR STATE INCOME TAXATION FOR INTEREST ON

THE BONDS.

37-60-210. No action maintainable. AN ACTION OR PROCEEDING

AT LAW OR IN EQUITY TO REVIEW ANY ACTS OR PROCEEDINGS OR TO

QUESTION THE VALIDITY OR ENJOIN THE PERFORMANCE OF ANY ACT OR

PROCEEDINGS OR THE ISSUANCE OF ANY REVENUE BONDS OR FOR ANY

OTHER RELIEF AGAINST OR FROM ANY ACTS OR PROCEEDINGS DONE UNDER

THIS PART 2, WHETHER BASED UPON IRREGULARITIES OR JURISDICTIONAL

DEFECTS, SHALL NOT BE MAINTAINED UNLESS COMMENCED WITHIN THIRTY

DAYS AFTER THE PERFORMANCE OF THE ACT OR PROCEEDINGS OR THE

EFFECTIVE DATE THEREOF, WHICHEVER OCCURS FIRST, AND IS THEREAFTER

PERPETUALLY BARRED.

37-60-211. Annual reports. (1) IF THE BOARD ISSUES REVENUE

BONDS, THEN NO LATER THAN FEBRUARY 15 OFTHE FIRST CALENDAR YEAR

FOLLOWING THE CALENDAR YEAR IN WHICH THE BOARD FIRST ISSUES

BONDS, AND NO LATER THAN FEBRUARY 15 OF EACH YEAR THEREAFTER,

THE BOARD SHALL SUBMIT A REPORT TO THE MEMBERS OF THE JOINT

BUDGET COMMIITEE OF THE GENERAL ASSEMBLY, THE MEMBERS OF THE

LEGISLATIVE AUDIT COMMITTEE OF THE GENERAL ASSEMBLY, THE CHAIR

OF THE AGRICULTURE, LIVESTOCK, AND NATURAL RESOURCES COMMITTEE

OF THE HOUSE OF REPRESENTATIVES, AND THE CHAIR OF THE

AGRICULTURE, NATURAL RESOURCES AND ENERGY COMMlITEE OF THE

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SB03-236