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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...
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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
39-7-25
Section 39-7-25 Rights and remedies of bondholders. In addition to all other rights and all
other remedies any holder or holders of any bond or bonds of any authority incorporated under
this chapter, including a trustee for bondholders, shall have, subject to any contractual
limitations binding upon such bondholder or holders or trustee, and subject to the prior or
superior rights of others the following rights: (1) To institute a civil action on the bonds;
(2) To enforce his rights by mandamus or other civil action or proceeding against such authority
and the board of trustees of such authority, including the right to require such authority
and such board of trustees to fix and collect rates and charges adequate to carry out any
agreement as to or pledge of the revenues produced by such rates or charges and to require
such authority and such board to carry out any other covenants and agreements with such bondholder
and to perform its and their duties under this chapter; (3) To require...
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45-26-142.10
Section 45-26-142.10 Powers of district; bylaws. (a) The district shall constitute a public
corporation, which shall have the power to do any and all acts or things necessary and convenient
for carrying out the purposes for which it is created, including, but not limited to, all
of the following: (1) To sue and be sued. (2) To have a seal and alter the same at pleasure.
(3) To acquire, hold, and dispose of property, real and personal, tangible and intangible,
or interests therein 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 the terms and conditions as the board
shall determine. (4) To acquire, own, operate, maintain, and improve a system or systems.
(5) To pledge all or any part of its revenues, or mortgages, or otherwise encumber, all or
any part of its property for the purpose of securing the payment of the principal of and interest
on any of its obligations. (6) To sell, lease, mortgage, or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-26-142.10.htm - 3K - Match Info - Similar pages
45-49-140.09
Section 45-49-140.09 Powers of district; taxation exemption. (a) The district shall constitute
a public corporation, which shall have the power to do any and all acts or things necessary
and convenient for carrying out the purposes for which it is created including, but not limited
to: To sue and be sued; to have a seal and alter the same at pleasure; to acquire, hold, and
dispose of property, real and personal, tangible and intangible, or interests therein 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 the board shall determine; to
acquire, own, operate, maintain, and improve a system or systems; to pledge all or any part
of its revenues, or mortgages, or otherwise encumber, all or any part of its property for
the purpose of securing the payment of the principal of and interest on any of its obligations;
to sell, lease, mortgage, or otherwise encumber or dispose of all or any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-140.09.htm - 2K - Match Info - Similar pages
11-86A-12
Section 11-86A-12 Powers of authority generally. An authority shall have the following powers:
(1) To have succession by its corporate name until dissolved as provided in this chapter.
(2) To institute and defend legal proceedings in any court of competent jurisdiction and proper
venue; provided, however, that an authority may not be sued in any court other than the courts
of the county of incorporation; provided, further, that the officers, directors, agents, and
employees of an authority may not be sued for their actions on behalf of the authority except
for actions that are known by a person to be unlawful or are performed with reckless disregard
for the lawfulness of the actions. (3) To have and to use a corporate seal and to alter the
seal at its pleasure. (4) To establish a fiscal year. (5) To anticipate by the issuance of
its bonds the receipt of any revenues that may be appropriated by or to the authority and
to pledge the proceeds of the appropriations as security for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-86A-12.htm - 5K - Match Info - Similar pages
11-50-410
Section 11-50-410 Rights and remedies of bondholders and trustees. In addition to all other
rights and all other remedies, any holder or holders of any bond or bonds of any district
incorporated under this article, including a trustee for a bondholder, shall have the right,
subject to any contractual limitation binding upon such bondholder or holders or trustee and
subject to the prior or superior rights of others: (1) To bring an action on the bonds; (2)
To enforce its rights against the district and the board of directors, by mandamus or other
civil action or proceeding, including the right to require the district and such board to
fix and collect rates and charges adequate to carry out any agreement as to or pledge of the
revenues produced by such rates or charges and to require such district and such board to
carry out the other covenants and agreements with such bondholder and to perform its and their
duties under this article and under any mortgage, indenture of trust or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-410.htm - 2K - Match Info - Similar pages
11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
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11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution, sale,
delivery, redemption, etc.; security for payment of principal or interest; remedies upon default;
liability of municipalities, board, etc., thereupon. (a) Any authority shall have power to
issue from time to time its bonds and notes in such principal amount as its board shall determine
to be necessary to provide sufficient funds for achieving any of its corporate purposes, including
the payment of interest on any of its notes and bonds, the establishment of reserves to secure
any such notes and bonds and all other expenditures of such authority incident to and necessary
or convenient to carry out its corporate purposes and powers. Any authority shall also have
the power to issue from time to time notes to renew notes and bonds to pay notes, including
interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance
of new bonds, whether the bonds to be refunded...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
11-99B-7
Section 11-99B-7 Powers of district generally; power of district to acquire and operate projects;
provisions in schedules of rates and charges generally. Each district 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, subject to the provisions of Section 11-99B-15, specified in its
certificate of incorporation. (2) To sue and to be sued in its own name in civil actions,
and to defend civil actions against it; provided, that the district shall be deemed to be
a "governmental entity" as defined in Chapter 93 of this title, for the purposes
of limiting the damages for which the district and its members may be liable. (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,...
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