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11-61A-15
Section 11-61A-15 Issuance of bonds. (a) The authority may issue bonds under and secured by
an indenture between the authority and a trustee. The trustee may be a private person or corporation,
including, but not limited to, any trust company or bank having trust powers, whether the
bank or trust company is located within or without the state. (b) In any indenture or resolution
providing for the issuance of bonds, the authority may pledge, for payment of the principal
of and the interest on the bonds, any of its revenues to which its right then exists or may
subsequently come into existence and may assign, as security for the payment, any of its leases,
franchises, permits, and contracts. In any such indenture the authority may mortgage any of
its properties, including any properties subsequently acquired by it. Any pledge of revenues
shall be valid and binding from the time it is made, and the revenues pledged and subsequently
received by the authority, and any property of the...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-120.htm - 5K - Match Info - Similar pages
37-11B-5
Section 37-11B-5 Actions in accordance with State Rail Plan or studies. (a)(1) Based on information
gathered in the State Rail Plan or any studies conducted pursuant to subdivision (5) of Section
37-11B-4, ADECA with the assistance of the commission for purposes of promoting passenger
or freight rail service, or both, may do all of the following: a. Select or recommend routes
and locations, perform preliminary engineering and surveying, acquire necessary rights-of-way
and property, perform site improvements, and otherwise plan, develop, construct, and own a
rail line, or portion thereof, that connects to the rail line of a railroad corporation. b.
Take any action described in subdivision (1) for the purpose of assisting a railroad corporation
or other entity in developing, constructing, improving, and owning a rail line, or portion
thereof, for any other purpose as approved by ADECA that promotes economic development associated
with rail infrastructure or passenger or freight rail...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11B-5.htm - 3K - Match Info - Similar pages
39-3-1
Section 39-3-1 Contracts for public works project financed entirely by state or subdivisions
thereof to provide for use of domestic products if available, etc.; penalty. (a) The awarding
authority contracting for a public works project to be financed entirely by the State of Alabama
or any political subdivision of the state, shall stipulate or cause to be stipulated in the
contract a provision whereby the person, firm, or corporation undertaking the project agrees
to use in the execution of the contract materials, supplies, and products manufactured, mined,
processed, or otherwise produced in the United States or its territories, if the same are
available at reasonable and competitive prices and are not contrary to any sole source specification
implemented under subsection (f) of Section 39-2-2. (b) In the event the contractor breaches
the agreement to use domestic products, and domestic products are not used, there shall be
a downward adjustment in the contract price equal to any...
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41-10-44.7
Section 41-10-44.7 Proceeds from the sale of project obligations; revenues and other funds.
(a) After making adequate provision for the payment of the expenses of issuance, the authority
is authorized and empowered to use the proceeds of any project obligations, together with
any other available funds, (i) to finance project costs as herein authorized; (ii) to fund
such reserves as the authority deems necessary and desirable; and (iii) to the extent not
needed for the foregoing uses, to pay or redeem such project obligations. (b) Pending the
application of the proceeds of project obligations to the purpose or purposes for which such
project obligations were issued, such proceeds may be invested by the authority in such manner,
consistent with the resolution pursuant to which such project obligations are issued, as the
board of directors may deem advisable. (c) Any and all revenues, receipts, investment earnings
and other funds paid to, or otherwise coming into the possession of, the...
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41-10-628
Section 41-10-628 Disposition of proceeds of bonds. (a) The authority is authorized and empowered
to apply the proceeds of any bonds for any of the following purposes or uses: (1) For the
purposes for which the bonds were authorized to be issued. (2) To fund any reserve fund established
in connection with an authorized issue if the authority deems the establishment of such reserve
fund to be necessary and desirable. (3) To pay for the cost of obtaining credit enhancement
for the bonds. (4) To pay capitalized interest on the bonds. (5) To pay the costs of issuing
the bonds. (6) If refunding bonds are issued pursuant to this division, to pay debt service
on and the redemption price of any bonds to be refunded. (b) Pending the application of the
proceeds of bonds of the authority to the purpose or purposes for which the bonds were issued,
the proceeds and any monies held in funds created as security for the bonds may be invested
by the authority in permitted investments, as the authority...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-628.htm - 1K - Match Info - Similar pages
45-37A-56.35
Section 45-37A-56.35 Security of bonds. In the discretion of the authority any bonds may be
issued under and secured by an indenture between the authority and a trustee. The trustee
may be a private person or corporation, including, but not limited to, any trust company or
bank having trust powers, whether such bank or trust company is located within or without
the state. In any such indenture or resolution providing for the issuance of bonds the authority
may pledge, for payment of the principal of and the interest on such bonds, any of its revenues
to which its right then exists or may thereafter come into existence and may assign, as security
for such payment, any of its leases, franchises, permits, and contracts; and in any such indenture
the authority may mortgage any of its properties, including any properties thereafter acquired
by it. Any such pledge of revenues shall be valid and binding from the time it is made, and
the revenues so pledged and thereafter received by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-56.35.htm - 4K - Match Info - Similar pages
11-32-13
Section 11-32-13 Powers of localities, agencies, etc. For the purpose of securing public transportation
or aiding or cooperating with the authority in the planning, development, undertaking, construction,
acquisition, extension, improvement, operation, or protection of transit systems, any county,
municipality or other political subdivision, public corporation, agency, or instrumentality
of this state, upon the terms and with or without consideration, as it determines, may do
the any of the following: (1) Lend or donate money to, or perform services for the authority.
(2) Donate, sell, convey, transfer, lease, or grant to the authority, without the necessity
of authorization at any election of qualified voters, any property of any kind, including,
but without limitation, any transportation systems, any interest in any system, and any franchise.
(3) Provide that all or a portion of the taxes or funds available or to become available to,
or required by law to be used by it for public...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-32-13.htm - 1K - Match Info - Similar pages
11-47-217
Section 11-47-217 Boards of directors of authorities. (a) Each authority shall have a board
of directors composed of the number of directors provided in the certificate of incorporation,
as most recently amended. Unless provided to the contrary in its certificate of incorporation,
all powers of the authority shall be exercised, and the authority shall be governed by the
board or pursuant to its authorization. Subject to the provisions of subdivision (8) of Section
11-47-215, the board shall consist of directors who have the qualifications and are elected
or appointed for certain terms of office as shall be specified in the certificate of incorporation
of the authority. Notwithstanding the foregoing, if the original directors are appointed by
the incorporators, the original directors shall be identified in the proposed form of the
certificate of incorporation submitted to the governing body of each of the authorizing subdivisions
together with the application for authority to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-217.htm - 5K - Match Info - Similar pages
11-50A-22
Section 11-50A-22 Issuance of bond anticipation notes and notes. The authority shall have the
power and is authorized to issue, from time to time, bond anticipation notes in anticipation
of the issuance of bonds and to renew from time to time any bond anticipation notes by the
issuance of new bond anticipation notes, whether the bond anticipation notes to be renewed
have or have not matured. The authority may issue bond anticipation notes only to provide
funds which would otherwise be provided by the issuance of the bonds in anticipation of which
the bond anticipation notes are to be issued. The bond anticipation notes may be authorized,
sold, executed, and delivered in the same manner as bonds. Any resolution or resolutions authorizing
bond anticipation notes or any issue thereof may contain any provisions which the authority
is authorized to include in any bonds. All bond anticipation notes shall be special obligations
of the authority payable out of any revenues pledged to the...
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