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24-1-6
Section 24-1-6 Establishment of rentals and tenant selection in low rent housing projects.
(a) It is declared to be the policy of this state that each housing authority shall manage
and operate its low rent housing projects in an efficient manner so as to enable it to fix
the rentals for dwelling accommodations at the lowest possible rates consistent with its providing
decent, safe, and sanitary dwelling accommodations for persons of low income, and that no
housing authority shall construct or operate any such project for profit, or as a source of
revenue of the city or town. To this end a housing authority shall fix the rentals for such
dwellings in its low rent housing projects at no higher rates than it shall find to be necessary
in order to produce revenues which, together with all other available moneys, revenues, income,
and receipts of such authority from whatever sources derived, including federal financial
assistance necessary to maintain the low rent character of the...
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41-10-44.12
Section 41-10-44.12 Requirement to report to the Legislature. The authority shall report
annually to the Legislature as to its outstanding projects. Such report shall be due on the
fifth legislative day of each regular session and shall include a detailed accounting of each
project approved that year, the value of each outstanding project, the date each project will
be completed, the criteria and cost/benefit analysis used to justify each project and the
amount of tax credits utilized and job development fees retained by approved companies for
each approved project in that year. Such report shall also include all bond fees, attorneys
fees, commissions paid and all other costs of financing each project. The authority shall
include any other information requested by the Legislature by a joint resolution. (Acts 1993,
1st Ex. Sess., No. 93-851, p. 79, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.12.htm - 1K - Match Info - Similar pages
41-10-44.3
Section 41-10-44.3 Additional powers of authority. In addition to the powers granted
to it in Section 41-10-26 and in Sections 41-10-37 through 41-10-43, the authority
shall have the following powers: (1) To adopt and alter bylaws for the regulation and conduct
of its affairs and business; (2) To borrow money and to issue project obligations, whether
or not the interest thereon is excluded from gross income for federal income tax purposes,
for the purpose of financing project costs, and to provide for the rights of the purchasers,
holders or owners of its project obligations; (3) To execute and deliver mortgages, security
agreements and trust indentures and other forms of agreements for the purpose of securing
its project obligations, and in connection therewith, to mortgage, pledge or assign the revenues,
receipts and other property of the authority received, and the financing agreements entered
into by the authority in connection with, the financing of projects under this Article 2A;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.3.htm - 5K - Match Info - Similar pages
41-9-962
Section 41-9-962 Authority to issue revenue bonds; purposes; redemption; maturity date
limitation; public or private sale; obligations of project not state; security. (a) The commission
shall have the power and authority to issue and sell at any time its revenue bonds for the
purpose of providing funds to acquire, transport, outfit, renovate, maintain, improve, and
berth the items relevant to the Tuskegee Airmen and other related historic artifacts and to
construct, improve, enlarge, complete, maintain, operate, and equip the museum established
in this article and for the payment of obligations incurred. (b) The principal of and interest
on any bonds shall be payable solely out of the revenues derived from the project. All bond
service payments shall be subordinate to the acquisition, establishment, and maintenance of
a reasonable maintenance and operating fund. (c) Any bonds of the commission may be delivered
by the commission at any time and shall be in such form and denominations...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-962.htm - 2K - Match Info - Similar pages
11-57-11
Section 11-57-11 Bonds - Authority for issuance; security for payment of principal and
interest generally; form, terms, denominations, etc.; sale, redemption, etc. The authority
is empowered at any time and from time to time to sell and issue its revenue bonds for the
purpose of providing funds to acquire, construct, improve, enlarge, complete and equip one
or more projects and for payment of obligations incurred for any such purpose. The principal
of and interest on any such bonds shall be payable solely out of the revenues derived from
the project with respect to which such bonds were issued. Any bonds of the authority may be
delivered by it at any time and from time to time, shall be in such form and denominations
and of such tenor and maturities, shall bear such rate or rates of interest, payable and evidenced
in such manner, may contain provisions for redemption prior to maturity and may contain other
provisions not inconsistent with this chapter as may be provided by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-11.htm - 2K - Match Info - Similar pages
41-10-326
Section 41-10-326 Special funds for payment of bonds, insurance, and other expenses.
In the resolution or proceedings authorizing the issuance of any bonds or any temporary loan
or in any indenture of trust, the authority may provide for the establishment of one or more
special funds for the payment of the principal of, or interest on, the bonds or notes, one
or more reserve funds therefor and a fund, or funds, for the payment of insurance premiums
or other expenses with respect to the ownership and leasing of the facilities. Any such special
funds shall be held as trust funds pursuant to agreement with such trustee bank or banks as
may be designated by the commission. The authority shall establish and maintain appropriate
records pertaining to such funds. Such records shall be available at all reasonable times
to public inspection. (Acts 1986, No.86-546, p. 1093, §27.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-326.htm - 1K - Match Info - Similar pages
22-23B-2
Section 22-23B-2 Definitions. The following words and phrases, whenever used in this
chapter, shall have the following respective meanings unless the context clearly indicates
otherwise: AUTHORITY. The corporation organized pursuant to the provisions of this chapter
as a public corporation, agency and instrumentality of the state and known as the "Alabama
Drinking Water Finance Authority." AUTHORIZING RESOLUTION. A resolution, order or other
proceedings adopted by the board of directors of the authority authorizing the issuance of
bonds, agreements and related matters. BOARD OF DIRECTORS. The board of directors of the authority.
BOND PROCEEDS. The net proceeds of sale of bonds or notes, and the income derived from the
investment of such proceeds. BONDS. The bonds, notes or obligations or other evidences of
indebtedness issued by the authority under the provisions of this chapter. DEPARTMENT. The
Alabama Department of Environmental Management or any successor. FEDERAL ACT. The Act of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-23B-2.htm - 6K - Match Info - Similar pages
22-29-11
Section 22-29-11 Temporary financing. In anticipation of the issuance of bonds, the
authority may borrow such sums as may be needed, not exceeding $500,000.00 to be outstanding
at any one time, for any of the purposes enumerated in this chapter and to obligate itself
by certificate or promissory note, bearing interest at a rate or rates to be specified by
the authority, and maturing within 18 months from date. Such certificates or promissory notes
shall be payable solely from the proceeds of the bonds of the authority and from the funds
from which such bonds are payable. In the event that state funds are not available for a state
grant for a project when application is made, in order to accelerate the completion of any
project, the local public body may, with the approval of the authority, obligate such local
public body to provide local funds to pay that portion of the cost of the project which the
state will make available by grant, and the state shall refund the amount expended on...
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22-29-16
Section 22-29-16 Custody of moneys and funds; disposition of same. The State Treasurer
shall have custody of all moneys or funds paid or delivered to the authority and shall establish
a separate account for each project of each local public body, and such moneys or funds shall
be dedicated and used solely for the payment of any grant by the authority for the state to
such local public body or, in case the bonds of the authority shall have been issued to fund
such grant, the payment of the principal of and interest on such bonds, the expenses of such
payment and any reserve fund required for such bonds by the authorizing resolution; provided,
that if there shall be any surplus funds on deposit in said fund to the credit of the project
of a local public body, then, upon application by such local public body, the State Treasurer
may make cash expenditures from such account for any such project to the extent that moneys
are available therefor in any fiscal year of the authority after there...
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22-3A-16
Section 22-3A-16 Appropriation made; Debt Service Reserve Fund established. (a) For
the purpose of providing funds to enable the authority to pay on their respective due dates
the principal of and the interest and premium (if any) on any bonds issued by it under the
provisions of this chapter and to accomplish the objects of this chapter, there is hereby
irrevocably pledged to such purpose and there is hereby appropriated so much as may be necessary
for such purpose of the receipts from the incremental and additional excise taxes or fees
levied on the disposal of hazardous waste or hazardous substances by the provisions of (i)
the act resulting from the enactment of House Bill 310 introduced at the 1990 Regular Session
of the Alabama Legislature (whether such bill is enacted before or after this chapter) or
(ii) any other statute, now or hereafter enacted, which appropriates or pledges such a tax
or fee for the payment of the principal of and the interest and premium (if any) on bonds...
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