Section 27-76-602 - Authority to issue bonds

(a) If a regional mobility authority created under this chapter owns or operates or proposes to own or operate a transportation system and desires to construct improvements, betterments, and extensions thereto, the regional mobility authority may issue revenue bonds pursuant to a bond resolution and under the provisions of this chapter to pay the cost of a transportation project or to pay all or part of the cost of a transportation project that will become part of a transportation system.(b) If a regional mobility authority pursues the development of a toll facility project, the regional mobility authority may issue revenue bonds pursuant to a bond resolution and under the provisions of this chapter to pay the toll facility project costs with toll facility project revenues.Amended by Act 2013, No. 497,§ 6, eff. 8/16/2013.Acts 2007, No. 389, § 1.