11-20-74
Section 11-20-74 Borrowing of money; security. (a) Subject to the conditions, qualifications, and restrictions set forth in subsection (b), an agriculture authority may borrow money from any person or governmental entity. As security for any money borrowed, together with interest thereon, and any obligations incurred or assumed, an agriculture authority may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owed or thereafter adopted and all or any part of any funds of the authority. In a resolution authorizing the mortgage given to secure the payment thereof, an agriculture authority, in addition to its other powers, shall have the power to agree with the several holders of the mortgage to make, enter, and perform covenants and agreements as to all of the following: (1) The conduct, management, and maintenance of the properties held by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-74.htm - 3K - Match Info - Similar pages
11-50-171
Section 11-50-171 Publication of notice of adoption of resolution authorizing transfer, certain terms thereof, etc.; limitation period for action to restrain proposed transfer, etc. (a) After the adoption of proceedings providing for the transfer and conveyance of any water system or systems, the public corporation and municipality or municipalities proposing to make such transfer and conveyance shall cause to be published once a week for two successive weeks in a newspaper having general circulation within the limits of such municipality or municipalities a notice in substantially the following form (the blanks being first properly filled in) with the names of the public corporation and the municipality or municipalities appended thereto: "A resolution has been adopted by the board of directors of the _____ (herein insert the name of the public corporation proposing to make the transfer) and a resolution (or resolutions) has (or have) been adopted by the governing body (or bodies) of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-171.htm - 4K - Match Info - Similar pages
45-37A-54.67
Section 45-37A-54.67 Borrowing; revenue bonds. The authority shall have the power to borrow money and to issue revenue bonds as evidence of any money so borrowed, which bonds shall be payable solely from the revenues derived from the fairs, exhibitions, amusements, and other activities and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon and any obligations incurred or assumed, the authority may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the revenues derived from the fairs, exhibitions, amusements, and other activities and enterprises in which the authority is hereby authorized to engage. The instrument whereunder such mortgage or pledge shall be made may contain such agreements as the authority...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-54.67.htm - 3K - Match Info - Similar pages
45-49-140.10
Section 45-49-140.10 Service charges - Levy and collection. (a) The expense of establishing and maintaining a district shall be paid for by the proceeds of a service charge which shall be levied and collected in an amount sufficient to pay the expense. The service charge shall be levied upon and collected from persons and properties served by the system. Such charge shall be a personal obligation of the owner of the property served by the system, and to secure the collection of the charge there shall be a lien against the property in favor of the district, which lien shall be enforceable by sale thereof in the same manner in which the foreclosure of a municipal assessment for public improvements is authorized. (b) A property owner who owns a structure, used solely as a residence, which at the time of its original construction was situated on a county line, may avoid the payment of a service charge which is based upon the presence of such structure, if all of the following: (1) Between...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-140.10.htm - 3K - Match Info - Similar pages
11-48-83
Section 11-48-83 Issuance of bonds payable solely out of proceeds from assessments to pay cost of improvements. Each such city shall also have the power to finance the construction of public improvements in the police jurisdiction of such city by the issuance of its bonds payable solely out of the proceeds from assessments then made or to be thereafter made against the properties specially benefited by such improvements. Any such bonds shall not be general obligations of such city, and such city shall not be in any way liable to the holders of such bonds in the event of the failure to collect any of the assessments out of the proceeds from which such securities may be payable. Any such bonds shall pledge, convey and transfer to the holders thereof all of the issuing city's right, title and interest in and to such assessments and the city's liens securing such assessments, together with the right to enforce the collection of such assessments by foreclosure of such liens in any court of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-48-83.htm - 2K - Match Info - Similar pages
11-50-192
Section 11-50-192 Agreements. The municipality making any such conveyance and the municipality to which such conveyance is to be made are hereby authorized to enter into any agreements which they may deem necessary or appropriate in order to effectuate such transfer and may include in the instrument of transfer any conditions or stipulations deemed advisable by their respective governing bodies and authorized by ordinance or resolution adopted by the governing body of each such municipality. Nothing contained in this article shall be construed to authorize any municipality to convey any system or systems or part thereof so as to vest title thereto in private ownership and control; provided, that title to any system or systems or part thereof may be subjected to a mortgage, deed of trust, or pledge agreement as security for repayment of money borrowed by the municipality to which such conveyance is made. (Acts 1975, No. 831, ยง3.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-192.htm - 1K - Match Info - Similar pages
2-10-99
Section 2-10-99 Powers of association. An association incorporated under this article shall have the power to: (1) Contract and be contracted with; (2) Borrow and lend money; (3) Issue notes, bonds and other obligations and secure the payment of the same by mortgage or otherwise; (4) Buy, contract for, own, sell, convey, pledge, mortgage and otherwise have, use and dispose of property of all kinds, insofar as not prohibited by law; (5) Promote and carry out the purpose of this article to market the agricultural products of its members, cooperatively in pools or otherwise and collect for the same; (6) Purchase such products from its members; (7) Advance money upon such products to its members; (8) Act as agents for its members; (9) Process, condition, pack, store and otherwise safeguard, care for and make ready for market the agricultural products of its members; (10) Purchase for and distribute to its members and purchase and sell to its members seed, plants, fertilizers, machinery,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-99.htm - 3K - Match Info - Similar pages
11-50-101
Section 11-50-101 Issuance, etc., of bonds by municipalities having less than six thousand inhabitants. Any city or town having a population of less than 6,000 inhabitants may, notwithstanding the amount or character of any bonded or other indebtedness, issue such bonds, but the same shall be a lien or charge only against the property improved and drained and against the fund collected from the assessments levied against the property improved and drained and shall not be the general obligation of the city or town, nor shall such city or town be in any way liable to the holders of such bonds in case of failure to collect the same, but such bonds may be secured by mortgage on or deed of trust to said sewers or sewer system. Such last described bonds, when issued, shall convey and transfer to the owners thereof all right, title, and interest in and to the assessment and the lien upon the respective lots or parcels of ground provided for in this division, which liens and assessments shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-101.htm - 1K - Match Info - Similar pages
11-50-262
Section 11-50-262 Borrowing of money and issuance of revenue bonds therefor; execution of mortgages, pledges, etc., as security for indebtedness; provisions in same as to rights of parties thereto, etc.; sale of gas to municipalities authorized. (a) Any waterworks board shall also have the power to borrow money and to issue revenue bonds as evidence of any money so borrowed, which bonds shall be payable solely from the revenues derived from the operation of such gas plant and system. As security for any money so borrowed, together with interest thereon and any obligations incurred or assumed, the board shall have the power to mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property or any part or parts thereof, whether then owned or thereafter acquired, including its franchises owned and thereafter acquired and all or any part of the revenues derived from such plant or system or any part thereof. The instrument whereunder such mortgage or pledge shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-262.htm - 1K - Match Info - Similar pages
11-89-8
Section 11-89-8 Bonds of district - Form, terms, denominations, etc.; sale; execution and delivery; refunding; liability thereon; security for payment of principal and interest and payment thereof generally; provisions in mortgages, deeds of trust or trust indentures executed as security for payment of bonds generally. All bonds issued by the district shall be signed by the chairman of its board or other chief executive officer and attested by its secretary and the seal of the district shall be affixed thereto, and any interest coupons applicable to the bonds of the district shall be signed by the chairman of its board or other chief executive officer; provided, that a facsimile of the signature of one, but not both, of said officers may be printed or otherwise reproduced on any such bonds in lieu of his manually signing the same, a facsimile of the seal of the district may be printed or otherwise reproduced on any such bonds in lieu of being manually affixed thereto and a facsimile of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-8.htm - 4K - Match Info - Similar pages
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