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11-50-172
Section 11-50-172 Provision by transferor for payment of outstanding bonds, mortgages, indentures,
etc. If there are outstanding any bonds, mortgages, indentures, resolutions, or other obligations,
including revenue bonds or other securities, payable from or secured by a pledge of the revenues
or earnings of or constituting a lien upon the water system or systems proposed to be transferred
and conveyed under the provisions of this article, the public corporation proposing to make
such transfer and conveyance: (1) Shall make provision for the assumption by the transferee
public corporation of the due and prompt payment of the principal of and interest on such
bonds or other obligations and the due and prompt performance of all other agreements and
conditions in the manner authorized by such outstanding bonds, mortgages, indentures, resolutions,
or other obligations, or (2) In the absence of any such authorization or, at the election
of the transferor and transferee public corporations,...
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11-62-1
Section 11-62-1 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) AUTHORITY.
Any public corporation organized pursuant to this chapter. (2) AUTHORIZED PURPOSE OBLIGATION.
The term includes either of the following: a. Any lease, note, installment sale contract,
or any other obligation of a user, whether general or special, which was entered into, made,
assumed, or otherwise incurred by the user, in whole or in part, for the purpose of financing
the acquisition or ownership of one or more facilities, for the purpose of obtaining funds
with which to operate one or more facilities or for any combination of those purposes. b.
Any obligation of any kind which was entered into, made, assumed, or otherwise incurred by
the United States of America or any department, agency, or instrumentality...
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11-97-25
Section 11-97-25 Notice of bond resolution; contest to validity of bonds, etc. (a) Upon the
adoption by the board of any corporation of any resolution providing for the issuance of bonds,
such corporation may, in the discretion of its board, cause a notice respecting the issuance
of such bonds to be published once a week for two consecutive weeks in each county in which
shall be located any facility financed or in any way assisted by the issuance of such bonds,
such publication in each such county to be in a newspaper having general circulation therein.
Such notice shall be in substantially the following form (the blanks being properly filled
in), at the end of which shall be printed the name and title of either the chairman or secretary
of such corporation: "___, a public corporation and instrumentality of the State of Alabama,
on the ______ day of _____, authorized the issuance of $_____ principal amount of bonds (or
notes or other obligations, as the case may be) of the said...
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2-3A-3
Section 2-3A-3 Incorporation of authority; procedure. (a) The Governor, the Commissioner of
Agriculture and Industries and the Director of Finance may incorporate and organize a public
corporation, with the power and authority hereinafter provided, by proceeding according to
the provisions of this article. To organize such a corporation, the Governor, the Commissioner
of Agriculture and Industries and the Director of Finance shall present to the Secretary of
State of Alabama an application signed by them which shall set forth: (1) The name and official
designation of each of the applicants, together with a certified copy of the commission evidencing
each applicant's right to office; (2) The date on which each applicant was inducted into office
and the term of office of each of the applicants; (3) The name of the proposed corporation,
which shall be the Alabama Agricultural Development Authority; (4) The location of the principal
office of the proposed corporation, which shall be in the...
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22-21-341
Section 22-21-341 Reincorporation of existing corporations. Any public hospital corporation
may be reincorporated under this article, avail itself of all rights, powers and privileges
and become subject to all duties, obligations and responsibilities conferred or imposed by
this article, in the following manner: (1) The board of directors or other governing body
of such public hospital corporation shall adopt a resolution stating that it proposes and
applies for permission to reincorporate hereunder and containing a form of proposed certificate
of reincorporation, which such certificate of reincorporation shall include, with the necessary
changes in detail, the information required to be included in a certificate of incorporation
described in Section 22-21-314 other than that referred to in subdivision (b) (1) thereof.
(2) Such public hospital corporation shall as promptly as practicable thereafter file a certified
copy of such resolution with the governing body of each county or...
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41-10-760
Section 41-10-760 Notice - Contested actions. (a) Upon the adoption by the directors of any
resolution providing for the issuance of bonds, the authority may cause to be published once
a week for two consecutive weeks, in newspapers published or having a general circulation
in the Cities of Birmingham, Montgomery, Huntsville, and Mobile, a notice in substantially
the following form, at the end of which shall be printed the name and title of either the
president or the secretary of the authority: "Alabama Economic Settlement Authority,
a public corporation under the laws of the State of Alabama, on the ____ day of ______, authorized
the issuance of $_____ principal amount of bonds for purposes authorized in Article 19, Chapter
10 of Title 41 of the Code of Alabama 1975. The proceeds from the sale of the bonds are proposed
to be used to ___. Any action or proceeding questioning the validity of the bonds, the security
thereof, the use of the proceeds thereof, or the proceedings...
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45-17-90.53
Section 45-17-90.53 Duration of tax; referendum. (a) Subject to subsection (b), the taxes herein
authorized shall continue so long as securities secured by a pledge of such taxes shall remain
outstanding. Such taxes shall expire and the Local Public Corporation shall be abolished when
the original securities, including refunding securities hereafter issued to refund the original
securities, for the Shoals Economic Development Project shall have been paid in full. Securities,
for which an irrevocable trust fund consisting of cash or direct general obligations of the
United States of America, or both, shall be established for retirement of all of the principal
of or interest on any outstanding security, shall be deemed paid in full for the purposes
of this subpart. (b) Notwithstanding subsection (a), on the date when the original securities
for the Shoals Economic Development Project shall have been paid in full, the taxes herein
authorized and the Local Public Corporation shall continue...
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11-50-521
Section 11-50-521 Authority to incorporate. Any number of natural persons, not less than three
and each of whom shall meet the requirements provided in this chapter, may organize a corporation
not for pecuniary profit by proceeding according to the provisions of this chapter. Such corporation
shall be organized for the benefit of the municipalities located within the confines of the
power district and for the purpose of promoting and encouraging the fullest possible use of
electric energy within the power district by making such electric energy available to the
public within the power district at the lowest cost consistent with sound economy and prudent
management of the business of the corporation. Each such person shall be an elector and property
owner in one of the municipalities located within the territory proposed to be included in
the power district upon organization of the corporation, and no two shall be from the same
municipality. All or parts of not less than three counties...
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11-99-4
Section 11-99-4 Creation of tax increment districts and approval of project plans. In order
to exercise its powers under this chapter, a public entity shall take the following steps:
(1) The local governing body shall hold a public hearing at which all interested parties are
afforded a reasonable opportunity to express their views on the concept of tax increment financing,
on the proposed creation of a tax increment district and its proposed boundaries, and its
benefits to the public entity. Notice of the hearing shall be published in a newspaper of
general circulation in either the county or in the city, as the case may be, in which the
proposed tax increment district is to be located with such notice to be published at least
twice in the 15-day period immediately preceding the date of the hearing. Prior to publication,
a copy of the notice shall be sent by first class mail to the chief executive officer of each
deferred tax recipient. (2) In addition to the notice required by...
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22-21-182
Section 22-21-182 Borrowing by corporation generally; debts not obligations of state, counties
or municipalities; tax exemptions. (a) All securities of the corporation shall be signed in
the name and behalf of the corporation by its chairman and attested by its secretary, but
a facsimile of the signature of one, but not both, of such officers may be printed thereon
in lieu of the manual signature of such officer, and the seal of the corporation shall be
affixed thereto or a facsimile thereof printed thereon. Any interest coupons applicable to
any securities of the corporation shall be signed by its chairman, but a facsimile of such
chairman's signature may be printed on any such interest coupons in lieu of his manually signing
the same. Any securities of the corporation may be executed and delivered by it at any time
and from time to time, shall be in such form and denomination and of such tenor and maturity
or maturities not exceeding 40 years from their date, shall contain such...
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