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11-62-7
Section 11-62-7 Powers of authority generally; operation of facilities by authority.
(a) Every authority shall have all of the powers necessary and convenient to carry out and
effectuate the purposes and provisions of this chapter, including, without limiting the generality
of the foregoing, the following powers: (1) To have succession in its corporate name for the
duration of time (which may be in perpetuity, subject to the provisions of Section
11-62-17) specified in its certificate of incorporation; (2) To sue and be sued in its own
name in civil suits and actions and to defend suits against it; (3) To adopt and make use
of a corporate seal and to alter the same at pleasure; (4) To adopt, alter, and repeal bylaws,
regulations, and rules, not inconsistent with the provisions of this chapter, for the regulation
and conduct of its affairs and business; (5) To acquire, whether by gift, purchase, transfer,
foreclosure, lease, or otherwise, and to expand, improve, maintain, equip, and...
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16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized
and empowered to issue its bonds from time to time for the purpose of making equipment loans
to finance equipment costs incurred or to be incurred by educational institutions. Such bonds
may be in such aggregate principal amount as the board of directors shall determine to be
necessary to pay the equipment costs included in such financing. The authority may pay from
the proceeds of the sale of its bonds all expenses, including publication and printing charges,
attorneys' fees, financial advisory fees, and other expenses which the board of directors
may deem necessary or advantageous in connection with the authorization, advertisement, sale,
execution, and issuance of its bonds or the making of equipment loans from the proceeds thereof.
(b) Source of payment. All bonds issued by the authority shall be limited obligations of the
authority payable solely from any combination of the following: (1) The...
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11-32-9
Section 11-32-9 Bonds - Form and execution; sale; obligations; notice. (a) All bonds
issued by the authority shall be signed by the chair, vice chair, or executive director and
attested by its secretary or assistant secretary, and the seal of the authority shall be affixed
thereto except that a facsimile of the signature of the officers may be printed or otherwise
reproduced on any of the bonds in lieu of being manually subscribed on the bonds, a facsimile
of the seal of the authority may be printed or otherwise produced on the bonds in lieu of
being manually affixed thereto, if the bonds have been manually authenticated by a transfer
agent of the bond issue. Delivery of executed bonds shall be valid notwithstanding any changes
in officers or in the seal of the authority after the signing and sealing of the bonds. The
bonds may be executed and delivered by the authority at any time and from time to time, shall
be in the form and denominations and of the tenor and maturities, shall...
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11-86A-14
Section 11-86A-14 Execution of bonds and interest coupons; form, terms, denominations,
etc., of bonds; validation of bonds; sale; refunding bonds. (a) Bonds of an authority shall
be signed by the chair and attested by the secretary, the seal of the authority shall be affixed
thereto, and any interest coupons applicable to the bonds shall be signed by the chair; provided
that a facsimile of the signature of the officers may be printed or otherwise reproduced on
any bonds in lieu of being manually subscribed. A facsimile of the seal of the authority may
be printed or otherwise produced on any bonds in lieu of being manually affixed thereto, and
a facsimile of the chair's signature may be printed or otherwise reproduced on any interest
coupons in lieu of being manually subscribed, provided, that the bonds have been manually
authenticated by a transfer agent of the bond issue. Delivery of the bonds executed shall
be valid notwithstanding any changes in officers or in the seal of the...
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11-92A-14
Section 11-92A-14 Bonds of authority. (a) Bonds of an authority shall be signed by its
chairman and attested by its secretary, the seal of the authority shall be affixed thereto,
and any interest coupons applicable to said bonds shall be signed by the chairman; provided
that a facsimile of the signature of said officers may be printed or otherwise reproduced
on any such bonds in lieu of being manually subscribed thereon, a facsimile of the seal of
the authority may be printed or otherwise produced on any such bonds in lieu of being manually
affixed thereto, and a facsimile of the chairman's signature may be printed or otherwise reproduced
on any such interest coupons in lieu of being manually subscribed thereon, provided that the
bonds have been manually authenticated by a transfer agent of the bond issue. Delivery of
the bonds so executed shall be valid notwithstanding any changes in officers or in the seal
of the authority after the signing and sealing of the bonds. (b) Any bonds may...
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11-81-222
Section 11-81-222 Contents of complaint; order and notice of hearing to show cause why
obligations not valid. (a) The complaint by appropriate allegations, references or exhibits
shall briefly state the following: the authority for issuing such obligations; the resolution
or resolutions authorizing their issuance and the fact of their adoption and all essential
proceedings had or taken in connection therewith; the amount of the obligations to be issued;
the maximum rate of interest they are to bear; when principal and interest are to be paid
and the place of payment (unless the successful bidder at public sale will have the right
to name, designate, request or suggest the place of payment, which shall be stated if this
is the case); the taxes, other revenues or other means provided for their payment; and, in
the case of obligations payable from taxes, the amount of outstanding indebtedness payable
or secured by the same taxes and the assessed valuation for the then preceding tax year...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes.
(a) Unless otherwise authorized or directed by the court having jurisdiction thereof, or by
the will, trust agreement or other document which is the source of authority, a trustee, executor,
administrator, guardian or one acting in any other fiduciary capacity, other than as a trustee
governed by the Alabama Uniform Trust Code, with the exercise of reasonable business prudence,
in addition to any other investments now permitted by law, may invest funds in securities
or investments which, at the time of the making or purchase thereof, are included in one or
more of the following classes: (1) Bonds or other interest-bearing obligations of the United
States of America, or payment of which the United States of America has guaranteed as to both
principal and interest. (2) Bonds issued by the Federal Land Bank, under the act of Congress
of the United States of America, designated as "the Federal Farm Loan...
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41-10-54
Section 41-10-54 Powers of authority generally; acquisition by eminent domain of real
property or rights owned by railroads or utilities not authorized. (a) The authority shall
have the following powers: (1) To have succession by its corporate name until it is dissolved;
(2) To adopt bylaws for the regulation of its affairs and the conduct of its business; (3)
To adopt and use an official seal and alter the same at pleasure; (4) To maintain a principal
office in Jefferson County, Alabama, and suboffices at such places within the state as it
may designate; (5) To sue and be sued and to prosecute and defend civil actions in any court
having jurisdiction of the subject matter and of the parties; (6) To acquire by purchase,
gift, condemnation or any other lawful means any real, personal or mixed property necessary
or convenient in connection with the purpose for which the authority is formed and to hold
title to such property, together with all rights incidental to its estate in such...
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16-16-9
Section 16-16-9 Execution, form, terms and conditions of bonds; sale; refunding bonds;
bonds to be limited obligations; security for payment; bonds as negotiable instruments; exemption
from taxation; bonds as security for deposits and for investment of fiduciary funds. (a) The
bonds of the authority shall be signed by its president and attested by its secretary, and
the seal of the authority shall be affixed thereto, and any interest coupons applicable to
such bonds shall be signed by the president; provided, that a facsimile of the signature of
one, but not both, of the 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 authority may
be printed or otherwise reproduced on any such bonds in lieu of being manually affixed thereto
and a facsimile of the president's signature may be printed or otherwise reproduced on any
such interest coupons in lieu of his manually signing the same. (b) Any bonds...
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22-23B-7
Section 22-23B-7 Purpose; issuing, selling and refunding of bonds. For the purpose of
providing funds for the authority to make loans to public bodies for a project or projects,
or for the payment of obligations incurred or temporary loans made for any of said purposes,
the authority is hereby authorized, from time to time, to issue and sell its bonds or other
evidences of indebtedness. Such bonds may be issued in one or more series; shall be in such
form and denominations and of such terms and maturities, not exceeding 30 years from the date
of issue of each series; shall bear such rate or rates of interest, payable and evidenced
in such manner; may contain such provisions for registration or for redemption prior to maturity;
and may contain such other provisions not inconsistent herewith, all as may be provided by
the authorizing resolution. As security for the payment of the principal of and interest on
its bonds, the authority is authorized to pledge, transfer and assign any...
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