A. All tangible and intangible property, real and personal property and securities purchased, held or owned at any time by the authority shall at all times be purchased and held in the name of the authority or may be mortgaged, assigned or otherwise encumbered as security for the repayment of bonds issued by the authority.
B. All securities purchased at any time by the authority, upon delivery to the authority, shall be accompanied by all documentation required by the authority and shall include an approving opinion of recognized bond counsel and certification and guarantee of signatures and disclosure of any pending litigation.
History: Laws 1992, ch. 61, § 10; 2001, ch. 294, § 6; 2010, ch. 16, § 1.
ANNOTATIONSThe 2010 amendment, effective May 19, 2010, in Subsection B, after "certification and guarantee of signatures", deleted "and certification as to no litigation pending as of the date of delivery of the securities challenging the validity or issuance of such securities" and added "and disclosure of any pending litigation".
The 2001 amendment, effective April 5, 2001, in Subsection A, added "tangible and intangible property, real and personal property and" near the beginning of the subsection, and the language beginning "or may be mortgaged" to the end of the subsection.