11-50-531
Section 11-50-531 Exemption from taxation. All bonds and the income therefrom issued
by the corporation and all mortgages and deeds of trust executed as security therefor and
all properties of the corporation of every kind and character shall be exempt from all taxation
in the State of Alabama. Any such mortgage or deed of trust shall be admitted to record in
the office of the judge of probate of any county in this state without the payment of any
tax upon the debt secured thereby or any other fee or charge except the costs of recording
the instrument at the rate fixed by law. (Acts 1943, No. 158, p. 142, §11.)...
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33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the
agency shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in
its corporate name. b. May sue and be sued in its corporate name. c. May adopt, use and alter
a corporate seal, which shall be judicially noticed. d. May enter into such contracts and
cooperative agreements with the federal, state and local governments, with agencies of such
governments, with private individuals, corporations, associations, trusts and other organizations
as the board may deem necessary or convenient to enable it to carry out the purposes of this
chapter, including the planned, orderly residential development of the area. e. May adopt,
amend and repeal bylaws. f. May appoint such managers, officers, employees, attorneys and
agents as the board deems necessary for the transaction of its business, fix their compensation,
define their duties, require bonds of such of them as the board may...
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11-54A-9
Section 11-54A-9 Powers of authority; all projects to be in development area. (a) 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 perpetuity, subject to Section 11-54A-20,
specified in its certificate of incorporation. (2) To sue and be sued in its own name and
to prosecute and defend civil actions in any court having jurisdiction of the subject matter
and of the parties. (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, whether by purchase, construction, exchange, gift, lease, or otherwise
and to refinance existing indebtedness on, improve, maintain, equip, and furnish one or more
projects, including all real and personal properties which the board of the authority may...

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40-22-10
Section 40-22-10 Tax upon recording transfer of instrument recorded by exempt institution
- Exemption of debt secured by instrument upon which recording tax has previously been paid.
If any transfer of any such mortgage, deed of trust, contract of conditional sale, or other
instrument of like character described in Section 40-22-6 has heretofore been filed
for record in any probate office of this state and the recording privilege tax imposed by
Section 40-22-1 or Section 40-22-2 has been paid thereon, the debt secured by
the instrument so transferred shall be exempt from any ad valorem tax, either state, county,
or municipal. (Acts 1951, No. 816, p. 1449, §5.)...
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40-22-11
Section 40-22-11 Tax upon recording transfer of instrument recorded by exempt institution
- Waiver of exemption from payment of recording tax. Any corporation, organization, or institution
now or hereafter exempt from the recording privilege tax imposed by Section 40-22-2
may, at the time of presenting for record any mortgage, deed of trust, contract of conditional
sale or other instrument of like character executed to it, waive its exemption from payment
of such recording privilege tax with respect to such instrument and pay the tax imposed by
said section at the time such instrument is presented to the judge of probate for filing,
and no transfer of the indebtedness thereby secured, thereafter presented for recording, shall
be subject to any recording privilege tax, but shall be filed for record by the judge of probate
upon the payment of the recording fees to the judge of probate. (Acts 1951, No. 816, p. 1449,
§6.)...
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40-22-6
Section 40-22-6 Tax upon recording transfer of instrument recorded by exempt institution
- Generally. If any mortgage, deed of trust, contract of conditional sale, or other instrument
of like character heretofore or hereafter filed for record in any probate office of this state
which was or shall be given to secure the payment of any debt incurred to a corporation, organization,
or institution now or hereafter exempt by law from the payment of the recording privilege
tax imposed by Section 40-22-2 and upon which such recording privilege tax has not
been previously paid has been heretofore or be hereafter transferred to a person, corporation,
organization, or institution not exempt from payment of such tax and such transfer is presented
for record within this state, such transfer shall be received for record upon payment of the
privilege tax imposed by said section upon the then unpaid balance of the secured debt
and the recording fees of the probate judge. (Acts 1951, No. 816, p. 1449,...
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37-6-23
Section 37-6-23 Liens. Any mortgage, deed of trust or other instrument executed by a
cooperative or foreign corporation transacting business in this state pursuant to this chapter,
which, by its terms, creates a lien upon real and personal property then owned or after acquired
and which is recorded as a mortgage of real property in any county in which such property
is located or is to be located, shall have the same force and effect as if the mortgage, deed
of trust or other instrument were also recorded or filed in the proper office in such county
as a mortgage of personal property. Recordation of any such mortgage, deed of trust or other
instrument shall cause the lien thereof to attach to all after acquired property of the mortgagor
of the nature therein described as being mortgaged or pledged thereby, immediately upon the
acquisition of such property by the mortgagor, and such lien shall be superior to all claims
of creditors of the mortgagor and purchasers of such property and to...
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11-81-2
Section 11-81-2 Execution of mortgages or deeds of trust upon property acquired, etc.,
with proceeds of bond issues; recordation of same. Any municipal corporation in this state
shall have power and authority to execute a mortgage or deed of trust upon the property acquired
or to be acquired with the proceeds of a bond issue authorized in this chapter, and such mortgage
or deed of trust shall be admitted to record in the office of the probate judge of any county
in this state without the payment of any tax upon the debts secured thereby or any other fee
or charge, except the costs of recording the instrument at the rate fixed by law. (Acts 1909,
No. 195, p. 188; Code 1923, §2268; Code 1940, T. 37, §252.)...
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11-54B-9
Section 11-54B-9 Collection of special assessment; procedures; claim of lien; interest,
penalties, and fees. (a) A self-help business improvement district ordinance shall provide
that the special assessment levied on the owners of the real property located within the geographical
area of the district shall be collected by the district management corporation. The collection
procedures utilized by the district management corporation shall include the mailing of a
notice of the special assessment to the person shown as owner of the property on the records
of the tax assessor in the following manner: (1) After October 1 of each year, the district
management corporation may levy the special assessment for services to be provided during
the following calendar year. (2) The assessment shall be due on December 1 and delinquent
on January 1 following the October levy. (3) Upon delinquency, interest and penalties may
be assessed in the amounts provided in subsection (d). (b) Notwithstanding...
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11-97-18
Section 11-97-18 Exemption from taxation. (a) Every corporation shall exercise its powers
in all respects for the benefit of the people of the state, for their well being, and for
the improvement of their health, welfare, and social condition, and the exemptions from taxation
hereinafter described are hereby granted in order to promote the more effective and economical
exercise of such powers. (b) No income, sales, use, or other excise or license tax shall be
levied upon or collected in the state with respect to any corporate activities of a corporation
or any of its revenues, income, or profit. No ad valorem tax or assessment for any public
improvement shall be levied upon or collected in the state with respect to any property during
any time that title to such property is held by a corporation, including, without limiting
the generality of the foregoing, any time that such property is leased to a provider by a
corporation pursuant to a lease which provides that title to such property...
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