58-239.04. Authority; economic-impact projects; powers and duties.

201 words·~1 min read·/ne/chapter-58/58-239-04

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)In addition to the powers granted under section 58-239 , the authority may:

(a)Borrow money and issue bonds for the purpose of financing economic-impact projects;

(b)Enter into and perform interagency and intergovernmental agreements with one or more public agencies in connection with financing or providing resources for economic-impact projects;

(c)Create, operate, manage, invest in, and own entities or other consortia created for the purpose of facilitating economic-impact projects; and

(d)Provide resources for economic-impact projects, in an amount not to exceed ten million dollars per project, including, but not limited to, making loans or providing equity through investment therein or ownership thereof or through other means or agreements.

(2)The authority may exercise any of the powers authorized by this section only after a public hearing has been held detailing the economic-impact project to be assisted and allowing for input from the public. Notice of the public hearing shall be given at least two weeks in advance of the hearing in a newspaper of general circulation within the county affected by the economic-impact project, which notice shall give a general designation of the project and identify where more detailed plans may be reviewed prior to the hearing.