(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.
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