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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...
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11-32-8
Section 11-32-8 Rates and charges. (a) Rates, fees, and charges for public transportation
service rendered by the authority from any of its transit systems shall be so fixed and from
time to time revised as at all times to provide funds that, when added to all other revenues
including tax proceeds anticipated to be received by the authority shall be at least sufficient
to do all of the following: (1) Pay the cost of operating, maintaining, repairing, replacing,
extending, and improving the systems from which such services are rendered. (2) Pay the principal
of and the interest on all bonds issued and obligations assumed by the authority that are
payable out of the revenues derived from operation of those systems, as the principal and
interest become due and payable. (3) Create and maintain reserves for the foregoing purposes
or any of them as may be provided in any mortgage, deed of trust, or trust indenture executed
by the authority or in any resolutions of the board authorizing the...
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11-47-218
Section 11-47-218 Powers of authorities generally; location of projects; exercise of
power of eminent domain. (a) In addition to all other powers at any time conferred on it by
law, and subject to any express provisions of its certificate of incorporation to the contrary,
an authority shall have the following lawful powers, together with all powers incidental thereto
or necessary to discharge thereof in the corporate form: (1) To have succession by its corporate
name in perpetuity or for the duration specified in its certificate of incorporation. (2)
To sue and be sued in its own name in civil actions and to defend actions against it. (3)
To adopt and make use of a corporate seal and to alter the same at pleasure. (4) To adopt,
alter, and repeal bylaws, regulations, and rules, not inconsistent with this article or its
certificate of incorporation, for the regulation and conduct of the affairs and business of
the authority. (5) To acquire, receive, take, and hold, whether by purchase,...
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11-81-16
Section 11-81-16 Pledge of revenues from certain taxes, utilities, etc., for payment
of principal and interest on bonds. In any case in which a county or municipality may hereafter
issue any bonds which are general obligations of such county or municipality, there may be
pledged to the payment of the principal of an interest on such bonds all or any part or portion
of funds which may be derived from any one or more of the following sources and which shall
not be required for the purpose of making good any valid pledge thereof theretofore made or
which are not required by the Constitution to be devoted to other purposes and which such
county or municipality may at any time be authorized to levy, collect or receive: (1) The
proceeds of any property tax; (2) The proceeds of any license, privilege or occupational tax,
excepting such license taxes as may be levied by municipalities for conducting business outside
their corporate limits; (3) The portion of any license, privilege or...
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11-88-12
Section 11-88-12 Establishment and revision of rates, fees, and charges for services
rendered by authority; applicability of provisions of section to authority organized
to construct and operate sewer system. (a) Rates, fees, and charges for water service, sewer
service, and fire protection service rendered by the authority from any of its water systems,
sewer systems, or fire protection facilities shall be so fixed and from time to time revised
as at all times to provide funds at least sufficient to: (1) Pay the cost of operating, maintaining,
repairing, replacing, extending and improving the systems and facilities, or either, from
which such services are rendered; (2) Pay the principal of and the interest on all bonds issued
and obligations assumed by the authority that are payable out of the revenues derived from
operation of those systems and facilities as the said principal and interest become due and
payable; (3) Create and maintain such reserves for the foregoing purposes or any...
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39-7-22
Section 39-7-22 Powers generally; consent of Department of Finance required for issuance
or sale of bonds or other evidence of indebtedness by authority. (a) Subject only to the Constitution
of the State of Alabama, each authority incorporated under this chapter shall have power:
(1) To sue and be sued; (2) To have a seal and alter the same at pleasure; (3) To acquire,
by purchase, gift, devise, lease or exercise of the power of eminent domain or other mode
of acquisition, hold and dispose of property real and personal, tangible and intangible, and
interests therein in its own name, subject to mortgages or other liens or otherwise, and to
pay therefor in cash or on credit and to secure and procure payment of all or any part of
the purchase price thereof on such terms and conditions as it shall determine; (4) To make
and enter into contracts, indentures of trust, leases and bonds; (5) To borrow money and to
issue negotiable bonds and provide for the rights of the holders thereof; (6) To...
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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall
have the following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST
FUND. The trust fund of the state created under Amendment 450 to the Constitution of Alabama
of 1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama
1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special
fund to the extent such revenues are appropriated to the authority pursuant to Section
41-10-759. (3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established
pursuant to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued
pursuant to this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement
of economic damages claims of the state against BP Exploration and Production, Inc. and any
of its corporate affiliates arising out of the Deepwater Horizon oil spill...
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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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16-17A-8
Section 16-17A-8 Powers of authority. (a) An authority shall have and may exercise any
power granted nonprofit corporations under Title 10A, together with all powers incidental
thereto or necessary or desirable to the discharge thereof, including, without limitation,
the following specific powers: (1) To adopt, maintain, and amend bylaws and a corporate seal.
(2) To sue and, subject to the limitations herein, be sued; provided, however, that no authority
entitled to sovereign immunity shall be denied such immunity. (3) To acquire, construct, equip,
and operate those health care facilities it considers necessary or desirable. (4) To enter
into contracts and agreements, borrow money, incur indebtedness, and issue bonds, notes, debt
securities, or any other evidence of indebtedness. (5) To pledge the general credit of the
authority or any revenues or income of the authority to repayment of any of its indebtedness.
(6) To mortgage or pledge its health care facilities or its other assets or...
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45-37-170.26
Section 45-37-170.26 Powers of authority. The authority shall have the following powers
together with all powers incidental thereto or necessary for the performance of the powers
stated in this section: (1) To have succession by its corporate name without time limit.
(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 its pleasure. (4) To receive and expend funds from federal, state, county, municipal,
and private sources for the purposes hereof. (5) To dig channels, build dikes, dams, and lakes
or ponds to contain flood waters as deemed useful by it to improve flood control, and whenever
practical to build any and all facilities which can contribute to the use of such flood control
channels for navigation. (6) To contract with municipalities and counties for the financing
and joint construction and operation of such facilities. (7) To...
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