§ 11-38-109. Powers of municipalities or other public bodies.

A.  For the purpose of aiding in the planning, undertaking or carrying out of an urban renewal project, a municipality or any other public body may:

1.  Cause public buildings and public facilities to be furnished, including parks, playgrounds, recreational, community, educational, water, sewer, or drainage facilities, or any other works which it is otherwise empowered to undertake; furnish, dedicate, close, vacate, pave, install, grade, regrade, plan or replan streets, roads, sidewalks, ways or other places; or make exceptions from building regulations; and cause administrative and other services to be furnished;

2.  Accept by gift or otherwise acquire, with or without consideration, title to real property in an urban renewal project area, hold such real property and enter into lease-purchase or other agreements respecting the operation, use, or disposal of such land, with a duly organized urban redevelopment corporation or Urban Renewal Authority.  Such lease-purchase or other agreements shall contain such terms and conditions as may be deemed necessary and convenient to the execution of an urban renewal plan; or

3.  Appropriate funds for urban renewal purposes.

B.  If at any time title to or possession of any real property in an urban renewal project is held by any municipality or public body or governmental agency which is authorized by law to engage in the undertakings, carrying out, or administration of urban renewal projects (including any agency or instrumentality of the United States of America), the provisions of the agreements referred to in this section shall inure to the benefit thereof and may be enforced by such public body or governmental agency.

C.  Any sale, conveyance, lease or lease-purchase agreement or agreement provided pursuant to this section may be made by a public body to any other public body without appraisal, public notice, advertisement or public bidding.

D.  For the purpose of aiding in the planning, undertaking or carrying out of an urban renewal project hereunder, a municipality or an Urban Renewal Authority or any other public agency, board or body may (in addition to its other powers and upon such terms, with or without consideration, as it may determine) do and perform any or all of the actions or things which such public agencies or public bodies are authorized to do or perform, including the furnishing of financial and other assistance.

E.  For the purposes of this section, or for the purposes of aiding in the planning, undertaking or carrying out of an urban renewal project, such municipality may issue and sell its general obligation bonds.  Any bonds issued by a municipality pursuant to this section shall be issued in the manner and within the limitations prescribed by laws of this state for the issuance and authorization of bonds by such municipality for public purposes generally.

Laws 1977, c. 256, § 38-109, eff. July 1, 1978.