11-22-12
Section 11-22-12 Temporary borrowing. The corporation may, in addition to the other powers granted in this chapter, borrow money for temporary use for any of its corporate purposes and in evidence of such borrowing issue from time to time revenue bonds or notes maturing not later than 18 months from date of issuance. Any such temporary borrowing may be made in anticipation of the sale and issuance of long-term bonds, and in such event the principal proceeds from the sale of such long-term bonds shall, to the extent necessary, be used for payment of the principal of and the interest on the temporary bonds or notes issued in anticipation of the sale and issuance of such long-term bonds. Any such temporary borrowing may also be made with respect to a project simultaneously with or after the sale and issuance of long-term bonds issued with respect to such project if, under the terms of the proceedings under which such long-term bonds are issued, the proceeds therefrom or any part thereof...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-22-12.htm - 1K - Match Info - Similar pages
11-88-7.1
Section 11-88-7.1 Additional powers. (a) Any authority organized or operating pursuant to Chapter 88 of Title 11 shall, in addition to all other powers now or hereafter granted by law, have the following powers and rights: (1) To borrow money for temporary use for any of its corporate purposes and, in evidence of such borrowing, to issue from time to time revenue bonds or notes maturing not later than 36 months from the date of issuance. Any such temporary borrowing may be made in anticipation of the sale and issuance of long-term revenue bonds, and in such event, the principal proceeds from the sale of such long-term revenue bonds shall, to the extent necessary, be used for payment of the principal of and the interest on the temporary revenue bonds or notes issued in anticipation of the sale and issuance of such long-term revenue bonds. Any such temporary borrowing may also be made with respect to a project simultaneously with or after the sale and issuance of long-term revenue bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-7.1.htm - 5K - Match Info - Similar pages
11-54-91
Section 11-54-91 Borrowing of money for temporary use and issuance of temporary revenue bonds as evidence thereof. (a) Any industrial development board organized under the provisions of this division, as amended, may, in addition to the other powers granted in the other provisions of this division, borrow money for temporary use for any of its corporate purposes and, in evidence of such borrowing, issue from time to time revenue bonds or notes maturing not later than 18 months from the date of issuance. (b) Any such temporary borrowing may be made in anticipation of the sale and issuance of long-term revenue bonds; and, in such event, the principal proceeds from the sale of such long-term revenue bonds shall, to the extent necessary, be used for payment of the principal of and the interest on the temporary revenue bonds or notes issued in anticipation of the sale and issuance of such long-term revenue bonds. (c) Any such temporary borrowing may also be made with respect to a project...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-91.htm - 2K - Match Info - Similar pages
11-60-12
Section 11-60-12 Borrowing of money for temporary use and issuance of temporary revenue bonds as evidence thereof. (a) The corporation may, in addition to the other powers granted in this chapter, borrow money for temporary use for any of its corporate purposes and in evidence of such borrowing issue from time to time revenue bonds or notes maturing not later than 18 months from the date of issuance. (b) Any such temporary borrowing may be made in anticipation of the sale and issuance of long-term bonds, and in such event the principal proceeds from the sale of such long-term bonds shall, to the extent necessary, be used for payment of the principal of and the interest on the temporary bonds or notes issued in anticipation of the sale and issuance of such long-term bonds. (c) Any such temporary borrowing may also be made with respect to a project simultaneously with or after the sale and issuance of long-term bonds issued with respect to such project if, under the terms of the...
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45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other powers now or hereafter granted by law, the authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To sell and issue bonds of the authority in order to provide funds for any corporate function, use, or purpose, any such bonds to be payable solely out of one or more of the following: a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by the Jackson County Commission which are required by law to be deposited to the credit of the Jackson County Water Authority. c. The revenues derived from any water, sewer, or garbage system or facility of the authority. (2) To pledge for payment of any bonds issued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-36-252.06.htm - 13K - Match Info - Similar pages
11-89B-1
Section 11-89B-1 Public corporation given power to sell and issue bonds, to pledge for payment proceeds, revenues, etc., and to issue bonds or notes for temporary borrowing. In addition to all other powers now or hereafter granted by law, each public corporation organized under the laws of the State of Alabama which is authorized by law (i) to operate a water system consisting of land, plants, systems, facilities, buildings and other property, or any combination of any thereof, which are used or useful or capable of future use in providing, furnishing, supplying or distributing water and (ii) to borrow money for use for one or more of its corporate purposes shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To sell and issue bonds of such public corporation in order to provide funds for any corporate function, use or purpose for which such public corporation is otherwise authorized by law to borrow...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-1.htm - 3K - Match Info - Similar pages
4-3-47
Section 4-3-47 Powers of authority generally. The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time (which may be in perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil actions, excepting actions in tort against the authority; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, receive, take and hold, whether by purchase, option to purchase, gift, lease, devise or otherwise, property of every description, whether real, personal or mixed, whether in one or more counties and whether within or without the corporate limits of any authorizing subdivision, and to manage said property and to develop any property and to sell, exchange, lease or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-3-47.htm - 16K - Match Info - Similar pages
11-20-41
Section 11-20-41 Borrowing of money for temporary use and issuance of temporary revenue bonds or notes as evidence thereof. The corporation may, in addition to the other powers granted in this article, borrow money for temporary use for any of its corporate purposes and in evidence of such borrowing issue from time to time revenue bonds or notes maturing not later than three years from the date of issuance. Any such temporary borrowing may be made in anticipation of the sale and issuance of long term revenue bonds, and in such event the principal proceeds from the sale of such long term revenue bonds shall, to the extent necessary, be used for payment of the principal of and the interest on the temporary revenue bonds or notes issued in anticipation of the sale and issuance of such long term revenue bonds. (Acts 1977, No. 762, p. 1310, ยง12.)...
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22-23B-2
Section 22-23B-2 Definitions. The following words and phrases, whenever used in this chapter, shall have the following respective meanings unless the context clearly indicates otherwise: AUTHORITY. The corporation organized pursuant to the provisions of this chapter as a public corporation, agency and instrumentality of the state and known as the "Alabama Drinking Water Finance Authority." AUTHORIZING RESOLUTION. A resolution, order or other proceedings adopted by the board of directors of the authority authorizing the issuance of bonds, agreements and related matters. BOARD OF DIRECTORS. The board of directors of the authority. BOND PROCEEDS. The net proceeds of sale of bonds or notes, and the income derived from the investment of such proceeds. BONDS. The bonds, notes or obligations or other evidences of indebtedness issued by the authority under the provisions of this chapter. DEPARTMENT. The Alabama Department of Environmental Management or any successor. FEDERAL ACT. The Act of...
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11-50A-8
Section 11-50A-8 Powers of the authority. In addition to other powers granted the authority by this chapter, it shall have all powers consistent with the purposes of the authority as set forth in Section 11-50A-3, which are necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including, but without limiting the generality of the foregoing, the following enumerated powers, which shall be exercised by the authority consistently with the provisions of Section 11-50A-3: (1) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereto; (2) To adopt and alter a corporate seal; (3) To make and alter at pleasure all needful bylaws, rules, and regulations for the transaction of its business and the control of its property and affairs; (4) To have the same right of eminent domain through condemnation conferred by Section 10-5-1, or any subsequent statute of similar import; provided...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-8.htm - 13K - Match Info - Similar pages
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