§ 43-4-511 — Powers of governmental units

(1) A governmental unit, for the
purpose of aiding and cooperating in the financing, construction, operation, or
maintenance of any public highway, has the power:

(a) To sell, lease, loan, donate, grant, convey, assign, transfer, and otherwise
dispose to the authority any real or personal property or interests therein;

(b) To enter into agreements with any person for the joint financing,
construction, operation, or maintenance of any public highway. Upon compliance
with applicable constitutional or charter limitations, such governmental unit may
agree to make payments without limitation as to amount except as set forth in the
agreement, from revenues from one or more fiscal years, to the authority or any
person to defray the costs of the financing, construction, operation, or maintenance
of a public highway.

(c) To transfer or assign to the authority any contracts which may have been
awarded by the governmental unit for construction, operation, or maintenance of
any public highway.

(2) To assist in the financing, construction, operation, or maintenance of a
public highway, any county or municipality which is a member of a combination
may, by contract, pledge to the authority all or a portion of the revenues it receives
from the highway users tax fund. The authority shall apply revenues which it
receives pursuant to such pledge to the financing, construction, operation, or
maintenance of public highways.

Legislative History

Source: L. 87: Entire part added, p. 1853, � 1, effective August 27.