41-10-318
Section 41-10-318 Security for bonds. The principal of, premium, if any, and interest
on the bonds of the authority shall be secured by any or all of the following, as the authority
may determine: (1) The rent and revenues from the lease or use of one or more facilities of
the authority; (2) The proceeds from any sale of any facilities of the authority; (3) Any
bond proceeds remaining unexpended upon completion of all facilities to be constructed with
such bond proceeds and the payment of the cost thereof; (4) Any insurance proceeds which the
authority may receive by reason of its ownership of any of the facilities; and (5) Any mortgage
upon or security interest in one or more facilities of the authority, granted in connection
with the issuance of such bonds. The authority shall have authority to transfer and assign
any lease or mortgage of any of its facilities as security for the payment of such principal,
premium, if any, and interest. The bonds may be issued under, and secured by,...
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41-10-508
Section 41-10-508 Security. The principal of, premium, if any, and interest on the bonds
of the authority shall be secured by any or all of the following, as the authority may determine:
(1) The rent and revenues from the lease or use of one or more facilities of the authority;
(2) The proceeds from any sale of any facilities of the authority; (3) Any bond proceeds remaining
unexpended upon completion of all facilities to be constructed with such bond proceeds and
the payment of the cost thereof; (4) Any insurance proceeds which the authority may receive
by reason of its ownership of any of the facilities; and (5) Any mortgage upon or security
interest in one or more facilities of the authority, granted in connection with the issuance
of such bonds. The authority shall have authority to transfer and assign any lease or mortgage
of any of its facilities as security for the payment of such principal, premium, if any, and
interest. The bonds may be issued under, and secured by, a...
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11-94-9
Section 11-94-9 Powers of authority; location of projects. (a) An authority organized
and existing under this chapter shall have the following powers, together with all powers
incident thereto or necessary for the performance of those stated herein: (1) To adopt bylaws
for the regulation of its affairs and the conduct of its business; (2) To adopt an official
seal and alter the same at pleasure; (3) To maintain a principal office in the municipality
which is an authorizing subdivision and sub-offices at such other place or places within the
county which is an authorizing subdivision as its board may designate; (4) To sue and be sued
in its own name, excepting actions in tort against the authority; (5) To acquire, whether
by purchase, construction, exchange, gift, lease, or otherwise and to improve, equip, and
furnish and to own and maintain one or more projects or parts thereof, including all real
and personal properties and interests therein which its board may deem necessary in...
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23-1-301
Section 23-1-301 Definitions. When used in this article, the following words and phrases
shall have the following respective meanings unless the context clearly indicates otherwise:
(1) AUTHORITY. The Alabama Federal Aid Highway Finance Authority, a public corporation and
instrumentality of the state authorized to be organized under the provisions of this article.
(2) BOARD OF DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds, including
refunding bonds issued to refund outstanding obligations, that in this article are authorized
to be sold and issued by the authority. (4) CORPORATION. The authority. (5) HIGHWAY GASOLINE
TAX. The excise tax levied under subdivision (1) of subsection (a) of Section 40-17-325,
with the exception of those portions of the tax levied on aviation fuel and marine gasoline.
(6) LEGISLATURE. The Legislature of Alabama. (7) NET GASOLINE TAX PROCEEDS. The entire proceeds
from the highway gasoline tax less the cost of collection and less any...
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45-23A-91.08
Section 45-23A-91.08 Powers of the authority. (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 45-23A-91.19) 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 deem necessary in connection...
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45-27A-31.08
Section 45-27A-31.08 Powers of authority. The authority shall have all of 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 45-27A-31.19, 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 deem necessary in connection...
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45-41A-10.08
Section 45-41A-10.08 Powers of authority. (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 45-41A-10.19) 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 deem necessary in connection...
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45-41A-40.08
Section 45-41A-40.08 Powers of the authority. (a) The authority shall have all of 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 45-41A-40.19, 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 deem necessary in...
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45-8A-111.08
Section 45-8A-111.08 Powers of authority. (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 45-8A-111.19) 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 deem necessary in connection...
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45-8A-20.08
Section 45-8A-20.08 Powers of authority. (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 the provisions of Section 45-8A-20.19) 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 deem necessary in...
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