45-29-90.13
Section 45-29-90.13 Execution of bonds; pledge of revenues, receipts, and other security. All
bonds issued by the authority shall be signed by the chair of its board of directors and attested
by its secretary-treasurer, and the seal of the authority shall be affixed thereto, and any
interest coupons applicable to the bonds of the authority shall be signed by the chair; provided,
that a facsimile of the signature of one, but not both, of the officers may be printed or
otherwise reproduced on any such bonds in lieu of his or her 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 signature of the chair
of its board of directors may be printed or otherwise reproduced on any such interest coupons
in lieu of his or her manually signing the same. Any such bonds may be executed and delivered
by the authority at any time, and from time to time, shall be in...
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11-61A-15
Section 11-61A-15 Issuance of bonds. (a) The authority may issue bonds under and secured by
an indenture between the authority and a trustee. The trustee may be a private person or corporation,
including, but not limited to, any trust company or bank having trust powers, whether the
bank or trust company is located within or without the state. (b) In any indenture or resolution
providing for the issuance of bonds, the authority may pledge, for payment of the principal
of and the interest on the bonds, any of its revenues to which its right then exists or may
subsequently come into existence and may assign, as security for the payment, any of its leases,
franchises, permits, and contracts. In any such indenture the authority may mortgage any of
its properties, including any properties subsequently acquired by it. Any pledge of revenues
shall be valid and binding from the time it is made, and the revenues pledged and subsequently
received by the authority, and any property of the...
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2-3A-8
Section 2-3A-8 Bonds of the authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and other receipts of the authority as may be
designated in the proceedings of the board under which the bonds shall be authorized to be
issued. (b) Pledge of revenues and other security. The principal of and interest on any bonds
issued by the authority shall be secured by a pledge of the revenues and other receipts out
of which the same may be payable and may be secured by a trust indenture evidencing such pledge
or by a foreclosable mortgage and deed of trust conveying as security for such bonds all or
any part of the property of the authority from which the revenues so pledged may be derived.
The resolution under which the bonds are authorized to be issued or any such trust indenture
or mortgage may contain any agreements and provisions respecting the maintenance and insurance
of the property covered by such trust indenture or mortgage, the use...
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22-29-10
Section 22-29-10 Bonds - Presumption of validity; contest of validity. Each authorizing resolution
or an indenture of trust provided for therein shall contain a recital that the bonds therein
authorized are issued pursuant to the provisions of this chapter, which recital shall be conclusive
evidence that said bonds have been duly authorized pursuant to the provisions of this chapter,
notwithstanding the provisions of any other law now in force or hereafter enacted or amended.
Upon the passage of any authorizing resolution, the authority may, in its discretion, cause
to be published once in each of two consecutive weeks in a newspaper published and having
general circulation in the City of Montgomery, Alabama, a notice in substantially the following
form (the blanks being properly filled in): "Alabama Pollution Control Finance Authority,
an agency of the State of Alabama, on the _____ day of _____, 20__, adopted a resolution providing
for the issuance of $_____ principal amount of bonds...
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11-57-15
Section 11-57-15 Bonds - Security for payment of principal and interest. The principal of and
the interest on the bonds shall be secured by a pledge of the revenues out of which the bonds
shall be made payable by an assignment or pledge of the lease agreement covering the project
from which revenues so pledged shall be derived and by a pledge of the rental from such project
and may be secured by a nonforeclosable indenture covering the project. The trustee under
any indenture may be a trust company or bank having trust powers, whether located within or
without the state. The indenture may contain any agreements and provisions customarily contained
in instruments securing evidences of indebtedness, including, without limiting the generality
of the foregoing, provisions respecting the collection, segregation and application of the
rental from any project covered by such indenture, the terms to be incorporated in the lease
agreement respecting the project, the maintenance and insurance of...
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22-21-144
Section 22-21-144 Bonds - Security. The principal of, and the interest on, the bonds shall
be secured by a pledge of the revenues out of which the bonds shall be made payable, may be
secured by a pledge of the lease agreement (if any) covering the project from which revenues
so pledged shall be derived and by a pledge of the rental from such project and may be secured
by a nonforeclosable indenture covering the project or projects out of the revenues from which
the bonds are made payable. The trustee, under any indenture, may be a trust company or bank
having trust powers, whether located within or without the state, and may be selected by the
board without regard to the provisions of Chapter 25 of Title 36 of this code or other similar
law. The indenture may contain any agreements and provisions customarily contained in instruments
securing evidences of indebtedness including, without limiting the generality of the foregoing,
provisions respecting the collection, segregation and...
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14-2-31
Section 14-2-31 Special funds. In the resolution or proceedings authorizing the issuance of
any bonds, any temporary loans 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, certificates 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 or for the expense of selling and leasing the Kilby property. Any
such special funds shall be held as trust funds by the State Treasurer separate and apart
from all other moneys. The State Treasurer is authorized and directed to pay, solely from
the special fund, or funds, provided therefor, the principal of and interest on all bonds
issued under this chapter as such principal and interest respectively mature and come due
and the redemption price of any bonds called prior to maturity. He shall establish...
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41-10-273
Section 41-10-273 Security for bonds; collection and application of revenues pledged to payment
of bonds; terms of leases of judicial facilities; maintenance and insurance of judicial facilities;
reserve and other funds; rights of holders of bonds upon default. Any resolution of the board
of directors authorizing the issuance of bonds may contain any provision or agreement customarily
contained in instruments securing evidences of indebtedness, including, without limiting the
generality of the foregoing, a pledge, transfer or assignment of any leases of any judicial
facilities out of the revenues from which such bonds are payable and a pledge of such revenues.
Any such resolution may also contain provisions respecting the collection and application
of any revenues pledged to the payment of the authority's bonds, the terms to be incorporated
in lease agreements respecting judicial facilities out of the revenues from which such bonds
are payable, the maintenance of and insurance on such...
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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.)...
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11-50A-23
Section 11-50A-23 Trust funds. All funds received by the authority pursuant to this chapter,
whether as proceeds from the sale of bonds, bond anticipation notes or notes or as revenues,
fees, tolls, or other charges, or as gifts, grants, or other contributions, shall be deemed
to be trust funds to be held and applied solely as provided in this chapter or in any bond
resolution, trust agreement or indenture authorized herein. (Acts 1981, No. 81-681, p. 1114,
§23.)...
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