(1)Any authority may establish regional transportation activity enterprises for the
purpose of pursuing or continuing activities authorized by this part 6. Any regional
transportation activity enterprise established or maintained pursuant to this part 6
is not subject to the provisions of section 20 of article X of the state constitution.
(2)(a) Each regional transportation activity enterprise shall be wholly owned
by a single authority and shall not be combined with any regional transportation
activity enterprise owned by another authority; except that each authority may
establish more than one regional transportation activity enterprise and each
regional transportation activity enterprise may conduct or continue to conduct one
or more activities authorized by this part 6 as
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(1)
Any authority may establish regional transportation activity enterprises for the
purpose of pursuing or continuing activities authorized by this part 6. Any regional
transportation activity enterprise established or maintained pursuant to this part 6
is not subject to the provisions of section 20 of article X of the state constitution.
(2) (a) Each regional transportation activity enterprise shall be wholly owned
by a single authority and shall not be combined with any regional transportation
activity enterprise owned by another authority; except that each authority may
establish more than one regional transportation activity enterprise and each
regional transportation activity enterprise may conduct or continue to conduct one
or more activities authorized by this part 6 as may be determined by the governing
body of the regional transportation activity enterprise.
(b) This subsection (2) does not limit the authority of a regional
transportation activity enterprise to contract with any other person or entity,
including other authorities, other state or local governments, or other regional
transportation activity enterprises.
(3) The governing body of a regional transportation activity enterprise is the
board of the authority that owns the enterprise.
(4) The governing body for each regional transportation activity enterprise
may exercise the authority's legal authority relating to activities authorized by this
part 6, but no regional transportation activity enterprise may levy a tax that is
subject to the requirements of section 20 (4) of article X of the state constitution.
(5) Each regional transportation activity enterprise, through its governing
body, may issue or reissue revenue bonds in accordance with the provisions of
section 43-4-609. Each bond issued under this subsection (5) shall recite in
substance that the bond, including the interest thereon, is payable from the
revenues and other available funds of the regional transportation activity enterprise
pledged for the payment thereof.
(6) The powers provided in this section for regional transportation activity
enterprises shall not modify, limit, or affect the powers conferred by any other law,
either directly or indirectly.
(7) Loan agreements subject to repayment or contracts to provide regional
transportation systems or the use of property included in or in connection with a
regional transportation system, which involve the payment of funds for such
systems or the use of the property to an authority or its regional transportation
activity enterprise by a state or local government or by another authority or
regional transportation activity enterprise, are not grants for purposes of the
definition of enterprise under section 20 (2)(d) of article X of the state constitution.
(8) An authority or its regional transportation activity enterprise may
contract with any other governmental or private source of funding for loans and
grants related to regional transportation activity enterprise functions.
(9) Revenues collected or spent by an authority for regional transportation
systems or the use of property included in or in connection with a regional
transportation system rendered or provided by a regional transportation activity
enterprise owned by the authority are not subject to the provisions of section 20 (4)
and (7) of article X of the state constitution.
(10) The rates or a change in the rates charged by an authority for regional
transportation systems or for the use of property included in or in connection with a
regional transportation system rendered or provided by a regional transportation
activity enterprise owned by the authority are not taxes subject to the provisions of
section 20 (4) and (7) of article X of the state constitution.
(11) The authority granted to a regional transportation activity enterprise
under this section is in addition to all other authority provided by law. Nothing
contained in this part 6 shall be construed to require the establishment, operation,
or continuation of a regional transportation activity enterprise or to limit the
authority of any state or local government to utilize other policies and procedures
for establishing, operating, or continuing any enterprise for any lawful purpose.