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22-23B-7
Section 22-23B-7 Purpose; issuing, selling and refunding of bonds. For the purpose of providing
funds for the authority to make loans to public bodies for a project or projects, or for the
payment of obligations incurred or temporary loans made for any of said purposes, the authority
is hereby authorized, from time to time, to issue and sell its bonds or other evidences of
indebtedness. Such bonds may be issued in one or more series; shall be in such form and denominations
and of such terms and maturities, not exceeding 30 years from the date of issue of each series;
shall bear such rate or rates of interest, payable and evidenced in such manner; may contain
such provisions for registration or for redemption prior to maturity; and may contain such
other provisions not inconsistent herewith, all as may be provided by the authorizing resolution.
As security for the payment of the principal of and interest on its bonds, the authority is
authorized to pledge, transfer and assign any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-23B-7.htm - 4K - Match Info - Similar pages
41-10-497
Section 41-10-497 Powers generally. The authority shall have the following powers among others
specified in this article: (1) To have succession in its corporate name until the principal
of and interest on all bonds issued by it shall have been fully paid and until it shall have
been dissolved as provided herein; (2) To maintain actions and have actions maintained against
it and to prosecute and defend in any court having jurisdiction of the subject matter and
of the parties thereof; (3) To have and to use a corporate seal and to alter such seal at
pleasure; (4) To establish a fiscal year; (5) To acquire and hold title to real and personal
property and to sell, convey, mortgage or lease the same as provided in this article; (6)
To provide for the construction, reconstruction, alteration and improvement of facilities
and for the procurement of sites and equipment for such facilities and for the lease thereof;
(7) To lease facilities to the state, or any agency or instrumentality of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-497.htm - 2K - Match Info - Similar pages
11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-10.htm - 8K - Match Info - Similar pages
23-7-2
Section 23-7-2 Definitions. For the purposes of this chapter, the following words shall have
the following meanings: (1) BANK. The Alabama Transportation Infrastructure Bank. (2) BOARD.
The board of directors of the bank. (3) BONDS. Includes bonds, notes, or other evidence of
indebtedness except as otherwise provided in this chapter. (4) DEPARTMENT or DEPARTMENT OF
TRANSPORTATION. The Alabama Department of Transportation. (5) ELIGIBLE COST. As applied to
a qualified project to be financed from the federal highway account, the costs that are permitted
under applicable federal laws, requirements, procedures, and guidelines in regard to establishing,
operating, and providing assistance from the bank. As applied to a qualified project to be
financed from the state highway account, these costs include the costs of preliminary engineering,
traffic, and revenue studies; environmental studies; right-of-way acquisition; legal and financial
services associated with the development of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-7-2.htm - 9K - Match Info - Similar pages
41-10-674
Section 41-10-674 Authorization to issue bonds. (a) General. The authority is authorized from
time to time to sell and issue the bonds in one or more series in an aggregate principal amount
of up to one hundred three million seven hundred sixty thousand dollars ($103,760,000) in
order to provide the funds to pay project costs, ancillary costs and training costs. In addition,
proceeds of the bonds in an amount up to four million six hundred fifty-five thousand dollars
($4,655,000) shall be used to pay the cost of reconstructing and improving the flood levee
located in Elba, Alabama and proceeds in an amount up to five million eight hundred ten thousand
dollars ($5,810,000) shall be used to pay the cost of reconstructing and improving the flood
levee located in Geneva, Alabama. Of the proceeds of the bonds an amount up to seven hundred
sixty thousand dollars ($760,000) shall be allocated for the acquisition of high technology
and audio-visual equipment for an advanced aerospace training...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-674.htm - 3K - Match Info - Similar pages
11-48-83
Section 11-48-83 Issuance of bonds payable solely out of proceeds from assessments to pay cost
of improvements. Each such city shall also have the power to finance the construction of public
improvements in the police jurisdiction of such city by the issuance of its bonds payable
solely out of the proceeds from assessments then made or to be thereafter made against the
properties specially benefited by such improvements. Any such bonds shall not be general obligations
of such city, and such city shall not be in any way liable to the holders of such bonds in
the event of the failure to collect any of the assessments out of the proceeds from which
such securities may be payable. Any such bonds shall pledge, convey and transfer to the holders
thereof all of the issuing city's right, title and interest in and to such assessments and
the city's liens securing such assessments, together with the right to enforce the collection
of such assessments by foreclosure of such liens in any court of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-48-83.htm - 2K - Match Info - Similar pages
11-54-87
Section 11-54-87 Powers of boards generally; location and operation of projects of boards generally;
meetings of board of directors. (a) The industrial development board shall have the following
powers together with all powers incidental thereto or necessary for the performance of those
stated in this subsection: (1) To have succession by its corporate name for the period specified
in the certificate of incorporation unless sooner dissolved as provided in this article; (2)
To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter
the same at pleasure; (4) To acquire, whether by purchase, construction, exchange, gift, lease,
or otherwise and to improve, maintain, equip, and furnish one or more projects, including
all real and personal properties which the board of directors of the board may deem necessary
in connection therewith, regardless of whether or not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-87.htm - 4K - Match Info - Similar pages
11-81-64
Section 11-81-64 Bonds for refunding or funding of bonds outstanding - Authority for issuance;
sale or exchange; rights, etc., of holders thereof. The governing body of any municipality
may, without any election, issue bonds of the municipality for the purpose of refunding a
like or greater face amount of the principal of any matured or unmatured bonds of such municipality
then outstanding whether the bonds to be refunded belong to one class or to two or more classes
or to one issue or to two or more issues. The proceedings authorizing any refunding bonds
shall clearly identify the bonds to be refunded thereby. Without limiting the generality of
any of the foregoing, it is specifically declared that serial bonds shall be included in the
classes and issues of bonds which may be refunded hereunder. Bonds which any municipality
is legally obligated to pay, although not issued in the name of such municipality, shall be
considered bonds of such municipality for the purposes of this section....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-64.htm - 3K - Match Info - Similar pages
11-92C-15
Section 11-92C-15 Failure to pay past due assessments. If any user, lessee, or owner of the
project fails to pay when due, with time being of the essence, any assessments or fees due
under this chapter, including, but without limitation, any payments in lieu of taxes, collectively
"past due assessment," then the authorizing subdivision or authority, or their designated
agents, collectively the "fee collector," may commence proceedings to foreclose
on the land and improvements of the user, lessee, or owner of the project having land within
the State of Alabama, subject to the terms of any executed agreement between the fee collector
and the user, lessee, or owner of the project, as follows: (1) A fee collector shall send
a letter by means of United States certified mail, return receipt requested, to the last known
address of the user, owner, or lessee of the project. The address of the user, owner, or lessee
as shown in the tax assessment records of the tax assessor or revenue...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-15.htm - 5K - Match Info - Similar pages
41-10-307
Section 41-10-307 Powers of authority. The authority shall have the following powers among
others specified in this article: (1) To have succession in its corporate name until the principal
of and interest on all bonds issued by it shall have been fully paid and until it shall have
been dissolved as provided herein; (2) To maintain actions and have actions maintained against
it and to prosecute and defend in any court having jurisdiction of the subject matter and
of the parties thereof; (3) To have and to use a corporate seal and to alter such seal at
pleasure; (4) To establish a fiscal year; (5) To acquire and hold title to real and personal
property and to sell, convey, mortgage or lease the same as provided in this article; (6)
To provide for the construction, reconstruction, alteration and improvement of facilities
and for the procurement of sites and equipment for such facilities and for the lease thereof;
(7) To lease facilities to the state, the commission or any other agency or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-307.htm - 2K - Match Info - Similar pages
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