Code of Alabama

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11-32-9
Section 11-32-9 Bonds - Form and execution; sale; obligations; notice. (a) All bonds
issued by the authority shall be signed by the chair, vice chair, or executive director and
attested by its secretary or assistant secretary, and the seal of the authority shall be affixed
thereto except that a facsimile of the signature of the officers may be printed or otherwise
reproduced on any of the bonds in lieu of being manually subscribed on the bonds, a facsimile
of the seal of the authority may be printed or otherwise produced on the bonds in lieu of
being manually affixed thereto, if the bonds have been manually authenticated by a transfer
agent of the bond issue. Delivery of executed bonds shall be valid notwithstanding any changes
in officers or in the seal of the authority after the signing and sealing of the bonds. The
bonds may be executed and delivered by the authority at any time and from time to time, shall
be in the form and denominations and of the tenor and maturities, shall...
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11-94-12
Section 11-94-12 Bonds of authority - Indenture; lien; remedies of bondholders. In the
discretion of its board, any bonds issued by an authority may be secured by an indenture between
an authority and a trustee, which may be 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 an 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, an authority may
mortgage any of its properties, including any that may be thereafter acquired by it, and may
provide that in the event of a default in payment of the bonds secured thereby or in the event
of default with respect to any agreement contained therein, such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-94-12.htm - 4K - Match Info - Similar pages

16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding
bonds; security. The authority shall have power and is hereby authorized from time to time
to provide by resolution for the issuance of negotiable revenue bonds for the purpose of paying
all or any part of the cost as herein defined of any of its projects. Such bonds may also
be issued to pay off, refund or refinance any outstanding bonds or other obligation of any
nature owed by the authority, whether or not such revenue bonds or other obligations shall
then be subject to redemption, and the authority may provide for such arrangements as it may
determine for the payment and security of the revenue bonds being issued or for the payment
and security of the revenue bonds or other obligations to be paid off, refunded or refinanced.
The principal, premium, if any, and interest of such revenue bonds shall be payable solely
from the revenues, receipts and earnings to be received by the authority in...
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2-3A-8
Section 2-3A-8 Bonds of the authority. (a) Source of payment. All bonds issued by the
authority shall be payable solely out of the revenues and other receipts of the authority
as may be designated in the proceedings of the board under which the bonds shall be authorized
to be issued. (b) Pledge of revenues and other security. The principal of and interest on
any bonds issued by the authority shall be secured by a pledge of the revenues and other receipts
out of which the same may be payable and may be secured by a trust indenture evidencing such
pledge or by a foreclosable mortgage and deed of trust conveying as security for such bonds
all or any part of the property of the authority from which the revenues so pledged may be
derived. The resolution under which the bonds are authorized to be issued or any such trust
indenture or mortgage may contain any agreements and provisions respecting the maintenance
and insurance of the property covered by such trust indenture or mortgage, the use...
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11-92C-9
Section 11-92C-9 Bonds of authority. (a) Source of payment. All bonds issued by an authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects, or from any other source as may be designated in the proceedings
of the board under which the bonds are authorized to be issued. (b) Pledge of revenues, receipts,
and other security. The principal and interest on any bonds issued by an authority shall be
secured by a pledge of the revenues and receipts out of which the principal and interest may
be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for the bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (c) Resolutions. The resolution under which
the bonds of an authority are authorized to be issued and any mortgage and deed of trust or
trust indenture may contain any agreements and provisions respecting the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-9.htm - 7K - Match Info - Similar pages

11-54-179
Section 11-54-179 Bonds of authority generally. (a) Source of payment. All bonds issued
by an authority shall be payable solely out of the revenues and receipts derived from the
leasing or sale by the board of its projects or of any thereof as may be designated in the
proceedings of the board under which the bonds shall be authorized to be issued. (b) Pledge
of revenues, receipts and other security. The principal of and interest on any bonds issued
by an authority shall be secured by a pledge of the revenues and receipts out of which the
same may be payable and may be secured by a mortgage and deed of trust or trust indenture
conveying as security for such bonds all or any part of the property of the authority from
which the revenues or receipts so pledged may be derived. The resolution under which the bonds
are authorized to be issued and any such mortgage and deed of trust or trust indenture may
contain any agreements and provisions respecting the operation, maintenance and insurance...

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11-54A-10
Section 11-54A-10 Bonds of authority. (a) Source of payment. All bonds issued by the
authority shall be payable solely out of the revenues and receipts derived from the leasing
or sale by the board of its projects or of any thereof as may be designated in the proceedings
of the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts and other security. The principal of an interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance and insurance of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54A-10.htm - 5K - Match Info - Similar pages

41-10-142
Section 41-10-142 Bonds - Issuance; form, terms, denominations, etc.; sale; refunding
bonds; negotiable; security for payment. All bonds issued by an authority may be executed
by such officers of the authority and in such manner as shall be provided in the proceedings
of the board whereunder the bonds shall be authorized to be issued. Any such bonds may be
executed and delivered by an authority at any time and from time to time, shall be in such
form and denominations and of such tenor and maturities, shall contain such provisions not
inconsistent with the provisions of this article and shall bear such rate or rates of interest,
payable and evidenced in such manner as may be provided by resolution of its board. Bonds
of an authority may be sold at either public or private sale in such manner and at such price
or prices and at such time or times as may be determined by the board to be most advantageous.
The principal of or interest on any bonds issued or obligations assumed by an...
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45-23A-91.09
Section 45-23A-91.09 Bonds of authority. (a) Source of payment. All bonds issued by
the authority shall be payable solely out of the revenues and receipts derived from the leasing
or sale by the board of its projects or of any thereof as may be designated in the proceedings
of the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. (1) The principal of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-23A-91.09.htm - 5K - Match Info - Similar pages

45-27A-31.09
Section 45-27A-31.09 Bonds of authority. (a) Source of payment. All bonds issued by
the authority shall be payable solely out of the revenues and receipts derived from the leasing
or sale by the board of its projects or of any thereof as may be designated in the proceedings
of the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. (1) The principle of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-27A-31.09.htm - 5K - Match Info - Similar pages

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