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11-50-240
Section 11-50-240 Issuance of revenue bonds for improvement and extension of waterworks plants
and pledge of revenues from gas systems for payment thereof. Any waterworks board organized
under the provisions of this division which has acquired or may hereafter acquire a gas plant
or system pursuant to the provisions of Division 2 of this article may, in addition to the
powers granted it by said provisions, issue revenue bonds for the purpose of acquiring or
constructing improvements and extensions to its waterworks plant and system and may pledge
for payment of such revenue bonds not only revenues from such waterworks plant and system
but also any available revenues from its gas plant and system. In order so to issue revenue
bonds payable from the revenues of both its waterworks plant and system and its gas plant
and system, it shall not be necessary for such waterworks board to combine such systems or
to provide for their operation, maintenance, and repair as one combined and...
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11-50-265
Section 11-50-265 Transfer of gas plant or system to waterworks board; sale or transfer of
plant or system by board to utility regulated by state Public Service Commission. (a) Every
city or town now or hereafter owning and operating a municipal gas plant or distribution system
and in which municipality a waterworks board is now or hereafter incorporated under the provisions
of Division 1 of this article is hereby authorized to transfer and convey such gas plant or
system or both to such waterworks board pursuant to the provisions of an ordinance theretofore
duly enacted by the governing body of such city or town and without the necessity of authorization
at an election of the qualified voters thereof; provided, that if at the time of such transfer
the city or town has outstanding any bonds or other obligations payable from or secured by
the revenues or earnings of such gas plant or system, it shall be incumbent upon the waterworks
board of such city or town to pay the amount thereof...
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11-50-271
Section 11-50-271 Consolidation of gas and waterworks plants and systems. Any such waterworks
board may, if it so elects, combine any waterworks plant and system owned by it with any gas
plant and system owned by it and provide for the operation, maintenance, and repair thereof
as one combined and consolidated plant and system, the keeping of books and records for one
combined plant and system, and the borrowing of money for any purpose authorized by law and
the issuance of revenue bonds payable from the revenues of both the waterworks and the gas
plants and systems, or such waterworks board may keep and operate such waterworks plant and
system separate from its gas plant and system. (Acts 1947, No. 154, p. 48, ยง12.)...
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4-3-11
Section 4-3-11 Powers of authority generally. The authority 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) specified in its certificate of incorporation; (2) To sue and be sued in its
own name in civil suits and actions, excepting actions in tort against the authority; (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, take and hold, whether by purchase, gift, lease, devise or otherwise, property of
every description, whether real, personal or mixed, whether in one or more counties and whether
within or without the corporate limits of any authorizing subdivision, and to manage said
property, and to develop any undeveloped property owned, leased or controlled by...
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4-3-47
Section 4-3-47 Powers of authority generally. The authority 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) specified in its certificate of incorporation; (2) To sue and be sued in its
own name in civil actions, excepting actions in tort against the authority; (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, take
and hold, whether by purchase, option to purchase, gift, lease, devise or otherwise, property
of every description, whether real, personal or mixed, whether in one or more counties and
whether within or without the corporate limits of any authorizing subdivision, and to manage
said property and to develop any property and to sell, exchange, lease or...
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11-81-51
Section 11-81-51 Purposes for which bonds may be issued. All municipalities shall have full
and continuing power and authority within the limits of the Constitution now in effect or
that may be hereafter provided to issue and sell bonds (when such issue is authorized by an
election as provided in this article if such election is required by the Constitution, but
without an election if an election is not so required) for the following named purposes: (1)
For the purpose of constructing, reconstructing, enlarging or extending public buildings,
sewers, streets, alleys, bridges and public schoolhouses and buildings and of constructing
or acquiring by purchase or otherwise water, electric light, electric power and gas plants
and systems or any two or more such plants or systems combined, including transmission and
distribution systems, and of constructing enlargements and extensions to any such plants or
systems; (2) For the purchase of real estate necessary for any improvement authorized...
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11-50A-1
Section 11-50A-1 Definitions. As used in this chapter, the following words shall have the following
meanings unless the context clearly indicates otherwise: (1) AUTHORITY. Alabama Municipal
Electric Authority created pursuant to this chapter and any successor or successors thereto.
(2) BOARD. The board of directors of the authority. (3) BONDS. Any bonds issued by the authority
under the provisions of this chapter, including refunding bonds. (4) BOND ANTICIPATION NOTES.
Short term obligations issued by the authority in anticipation of the issuance of bonds. (5)
COSTS. All costs of acquisition, construction, reconstruction, improvement, equipment, alteration,
repair, or extension of any project; all costs of real and personal property required for
the purposes of any project, including any rights or undivided interest therein; all costs
of easements, franchises, water rights, fees, permits, approvals, licenses, and certificates,
and all costs of securing any permits, approvals, licenses,...
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11-81-166
Section 11-81-166 Revenue bonds - Authority for issuance; authorization proceedings generally;
form, terms, denominations, etc.; execution and delivery generally; maturity and sale; payment
generally; trust indentures. (a) Any borrower may issue its revenue bonds for the purpose
of: (1) Financing the acquisition, improvement, enlargement, extension and repair, or any
of them, of a system or systems; (2) Refunding the principal of and the interest on any bonds
of such borrower theretofore issued under this article and then outstanding, whether or not
such principal and interest shall have matured at the time of such refunding; or (3) Financing
any such acquisition, improvement, enlargement, extension and repair, or any of them, and
refunding any such principal and interest. (b) Any bonds issued under this article shall be
made payable solely out of the revenues from the operation of a system or systems of the borrower
and may be made payable from any such revenues without regard to...
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11-81-172.1
Section 11-81-172.1 Revenue bonds - Issuance of bonds for refunding of principal of general
or limited obligation warrants, etc. Any county or incorporated municipality in the State
of Alabama may issue revenue bonds under the provisions of this article not only for the purposes
specified in Section 11-81-166, but also for the purpose of refunding the principal of any
outstanding general or limited obligation warrants of any such county or incorporated municipality
that were issued (directly or indirectly) for the purpose of financing the acquisition, improvement,
enlargement, extension or repair of any waterworks system, gas system, electric system or
sanitary sewer system or that were issued to refund any general or limited obligation warrant
or warrants initially issued by such county or incorporated municipality (directly or indirectly)
for the purpose of financing the acquisition, improvement, enlargement, extension or repair
of any waterworks system, gas system, electric system...
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11-47-3
Section 11-47-3 Contracts and indebtedness for municipal buildings and public utility systems;
consolidation of systems; ancillary service contracts. (a) The governing body of any city
or town may contract for the construction, reconstruction, extension, or repair of any municipal
building, plant, waterworks system, or electric light and power plant or system or may on
credit employ labor and purchase on credit all materials and supplies needed in such construction,
reconstruction, extension, or repair and may, without an election, issue evidences of indebtedness
in the forms and of the maturities described in Section 11-47-2 to the extent of any indebtedness
incurred in such contract or purchase or construction, reconstruction or extension and may
secure such evidences of indebtedness by mortgage or deed of trust (in such form and with
such provisions as such governing body may determine) on such municipal building, plant, waterworks
system, or electric light and power plant or...
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