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45-37-249.08
Section 45-37-249.08 Disposition of funds. (a) The proceeds of the taxes authorized herein
collected each month by the county, after any deductions for cost of collection, shall be
distributed at such times as shall be directed by the county commission in the priority and
respective amounts set forth below: (1) First, for so long as any refunding school warrants
are outstanding and are not defeased or otherwise fully paid, so much of the proceeds received
during a fiscal year of the county as may be necessary to satisfy the county's obligations
with respect to the refunding school warrants, including payment of the principal of, premium,
if any, and interest on the refunding school warrants due during such fiscal year of the county,
any ongoing expenses of administration of the refunding school warrants, amounts required
to be deposited in any debt service reserve fund for the refunding school warrants, and amounts
necessary to provide for payment of rebate, if any, or other amounts...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-249.08.htm - 4K - Match Info - Similar pages
17-7-3
Section 17-7-3 Warrants or certificates for purchase - Obligation of county; disposition of
proceeds. All warrants and certificates issued pursuant to this article shall evidence general
obligation indebtedness of the county by which they are issued, and the full faith and credit
of the county shall be irrevocably pledged for the payment of the principal thereof and interest
thereon. The proceeds derived from the sale of any such warrants and certificates shall be
used solely for the purpose for which they are authorized to be issued, including the payment
of any expenses incurred in connection with the issuance thereof. (Acts 1959, No. 603, p.
1492, §2; §17-9-10; amended and renumbered by Act 2006-570, p. 1331, §37.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/17-7-3.htm - 1K - Match Info - Similar pages
11-28-1
Section 11-28-1 Legislative intent. It is the intention of the Legislature by the passage of
this chapter to authorize each county in the State of Alabama: (i) to sell and issue warrants
for the purpose of financing the costs of acquiring, by construction, purchase or otherwise,
any public facilities described in Section 11-28-1.1 that such county may be lawfully authorized
to acquire at the time of the issuance of such warrants and (ii) to sell and issue warrants
for the purpose of refunding any bonds, notes, warrants or other instruments evidencing valid
debt at any time incurred or assumed by such county to pay the costs of acquiring such public
facilities or to refund debt that, through one or more prior refundings, had been initially
incurred for the payment of such costs, it being the intention of this chapter that any debt
of such county may be refunded by warrants issued under this chapter irrespective of whether
such debt was initially incurred under this chapter or under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-28-1.htm - 2K - Match Info - Similar pages
45-33-241
Section 45-33-241 Levy of tax. Pursuant to subsection (f) of Amendment No. 373 to the Constitution
of Alabama of 1901, the Hale County Commission may levy, in addition to any other tax, an
ad valorem tax in the amount of 3 mills on each dollar of taxable property in the county.
The revenue from the additional tax shall be paid to the county general fund to be used exclusively
for payment of the cost of the planning, construction, and equipping of a new county jail,
or for the payment of the principal of and interest on any bonds, warrants, or other obligations
issued by or on behalf of the county to finance the costs of a new jail, as well as the expenses
of issuance of any bonds, warrants, or other obligations. When the costs of planning, constructing,
and equipping a new county jail shall be fully paid or when all bonds, warrants, or other
obligations have been retired, whichever last occurs, the additional tax levied pursuant to
this section shall no longer be collected. (Act...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-33-241.htm - 1K - Match Info - Similar pages
11-82-1
Section 11-82-1 Definitions. As used in this chapter, the following words and phrases shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) SECURITIES. All types of bonds, warrants, certificates of indebtedness, notes and all
evidences of indebtedness issued by any county or municipality in this state. (2) OPTION TO
REDEEM. Any option retained by the county or municipality in the proceedings authorizing the
issuance of securities whereunder such county or municipality has the option of calling for
redemption or of paying on a specified date or dates at a specified price or prices all or
any part of such securities as may be provided in such proceedings. (3) REDEMPTION DATE. The
date on which securities shall be made subject to payment pursuant to the exercise by the
issuing county or municipality of any option to redeem retained by such county or municipality
in the proceedings whereunder such securities are authorized to be issued. (Acts...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-82-1.htm - 1K - Match Info - Similar pages
33-2-201
Section 33-2-201 Special purpose obligations. (a) The department, from time to time, may issue
special purpose obligations, which shall be limited obligations of the department payable
from and secured solely by a pledge of private facility payments made by or on behalf of one
or more commercial enterprises for the right to use the private facilities financed thereby
and shall not be payable from docks facilities revenues or otherwise give rise to any liability
on the part of the department other than the private facility payments pledged as security
therefor. No special purpose obligation shall give rise to any liability or constitute a debt
or obligation of the state or a charge against its credit or taxing powers. (b) Any special
purpose obligations shall be issued pursuant to a resolution of the board of directors of
the department. As security for the payment of any special purpose obligations, the department
is authorized to pledge for the payment of the obligations any private...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-201.htm - 5K - Match Info - Similar pages
11-95-8
Section 11-95-8 Bonds of corporation - From what source payable; pledge of revenues; execution;
form, interest rate, maturity, sale, and negotiability; nature of obligation and source of
payment; investment eligibility. (a) All bonds issued by a corporation shall be payable solely
from one or more of the following sources as may be designated in the proceedings of the board
under which such bonds shall be authorized to be issued: (1) Hospital taxes; and (2) Revenues
from any hospital facilities owned or operated by it. (b) The principal of and interest on
any bonds issued by a corporation shall be secured by a pledge of the designated revenues
and may be secured by a trust indenture evidencing such pledge or by a non-foreclosable mortgage
and deed of trust conveying as security for such bonds all or any part of the property of
the corporation from which any part of the designated revenues so pledged may be derived.
The resolution of the board under which the bonds are authorized to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-95-8.htm - 4K - Match Info - Similar pages
16-13-260
Section 16-13-260 Legislative findings. The Legislature makes the following findings and determinations:
(1) In a number of instances, the Legislature, by general or local act, has authorized the
levy and collection within a county or municipality of a tax, other than an ad valorem tax,
for school purposes and has specified that the authority for the levy of the tax shall terminate
upon the payment in full of certain generally or specifically described bonds, warrants, or
other obligations. (2) Counties, municipalities, boards of education, and other political
subdivisions frequently realize substantial debt service savings and other benefits through
the issuance and sale of refunding obligations to provide for the payment and retirement of
previously issued bonds, warrants, or other obligations. (3) In order to facilitate the realization
of the benefits that may be obtained through the refunding of outstanding obligations, and
to avoid the consequence of unintentionally terminating...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-260.htm - 1K - Match Info - Similar pages
22-21-330
Section 22-21-330 Lease agreements with authorizing subdivision; terms; renewal options; special
pledge as security for payment of rental, etc.; use of vacant space. (a) Each authority and
any authorizing subdivision are hereby respectively authorized to enter into one or more lease
agreements with each other whereunder any health care facilities situated within (or within
10 miles of) such authorizing subdivision or any part thereof shall be leased by the authority
to such authorizing subdivision, but if and only if such authorizing subdivision is then permitted
by law to operate such health care facilities, to issue its bonds, warrants, notes or other
securities therefor and to pledge for the benefit of any such securities its full faith and
credit. No such lease agreement shall be for a term longer than the then current fiscal year
in which it is made. Any such lease agreement may, however, contain a grant to such authorizing
subdivision of successive options to renew such lease...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-330.htm - 6K - Match Info - Similar pages
16-19-3
Section 16-19-3 Issuance of warrants authorized. Each local subdivision shall have the power
from time to time to sell and issue interest-bearing warrants of such local subdivision for
the purpose of raising funds to pay all or any part of the costs of the acquisition by a state
educational institution, by construction or otherwise, of any educational facility. Such warrants
shall be in such denomination or denominations, may have such maturity or maturities not exceeding
30 years from their date, may bear interest from their date at such rate or rates not exceeding
eight percent per annum payable semiannually and evidenced in such manner, may be payable
at such place or places within or without the state, may be sold at such time or times and
in such manner, may be executed in such manner and may contain such terms and provisions not
inconsistent with the provisions of this chapter, all as the governing body of such local
subdivision may provide in the proceedings under which the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-19-3.htm - 2K - Match Info - Similar pages
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