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11-54-26
Section 11-54-26 Bonds - Disposition of proceeds from sale. (a) The proceeds from the sale
of any bonds issued under authority of this article shall be applied only for the purpose
for which the bonds were issued; provided, however, that any accrued interest and premium
received in any such sale shall be applied to the payment of the principal of or the interest
on the bonds sold; provided further, that if for any reason any portion of such proceeds shall
not be needed for the purpose for which the bonds were issued, then such unneeded portion
of said proceeds shall be applied to the payment of the principal of or the interest on said
bonds. (b) The cost of acquiring any project, which shall be paid from the proceeds derived
from the sale of bonds, shall be deemed to include the following: (1) The actual cost of the
construction of any part of a project which may be constructed, including architect's and
engineer's fees; (2) The purchase price of any part of a project that may be...
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11-55-5
Section 11-55-5 Bonds - Disposition of proceeds from sale. (a) The proceeds from the sale of
any bonds issued under authority of this chapter shall be applied only for the purpose for
which the bonds were issued; provided, however, that any accrued interest and premium received
in any such sale shall be applied to the payment of the principal of or the interest on the
bonds sold; provided further, that if for any reason any portion of such proceeds shall not
be needed for the purpose for which the bonds were issued, then such unneeded portion of said
proceeds shall be applied to the payment of the principal of or the interest on said bonds.
(b) The cost of acquiring any project, which shall be paid from the proceeds derived from
the sale of bonds, shall be deemed to include the following: (1) The actual cost of the construction
of any part of a project which may be constructed, including architect's and engineer's fees;
(2) The purchase price of any part of a project that may be...
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11-57-17
Section 11-57-17 Refunding bonds. The authority may at any time and from time to time sell
and issue its refunding revenue bonds for the purpose of refunding the principal of and interest
on any matured or unmatured bonds of the authority at the time outstanding and for the payment
of any expenses incurred in connection with such refunding and any premium necessary to be
paid to redeem or retire the bonds so to be refunded. Any such refunding may be effected either
by sale of refunding bonds and the application of the proceeds thereof to payment, redemption
or retirement of the bonds to be refunded thereby, by exchange of the refunding bonds for
the bonds or interest coupons to be refunded thereby or by any combination thereof; provided,
that the holders of any bonds or coupons so to be refunded shall not be compelled without
their consent to surrender their bonds or coupons for payment or exchange prior to the date
on which they may be paid or redeemed by the authority under their...
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11-81-173
Section 11-81-173 Issuance of additional bonds; payment of same. (a) Any borrower acquiring,
improving, enlarging, extending or repairing any such system or combined system pursuant to
the provisions of this article, may, in the event that the proceeds of any issue of revenue
bonds by error of calculation or otherwise shall be less than the amount required for the
purpose or purposes for which the same shall be authorized, issue additional bonds under the
provisions of this article to provide the amount of such deficit or, in the event that later
extensions and permanent improvements to such system or combined system appear to be desirable,
issue from time to time additional bonds under the provisions of this article to provide funds
for such purposes. (b) If such additional bonds are issued for the purpose of providing funds
necessary to supply any such deficit, they shall, unless otherwise provided in the ordinance
authorizing the original issue of bonds or in any trust indenture...
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11-9-22
Section 11-9-22 Authority for issuance; form, terms, denominations, etc.; sale and disposition
of proceeds; pledge for payment of principal and interest generally. Each county shall have
the power from time to time to sell and issue interest-bearing warrants of such county for
the purpose of paying costs to that county of acquiring and providing one or more waterworks
systems for the purpose of rendering water service in any part of the county; provided, that
the county shall not render water service within any municipality except pursuant to franchise
granted to the county by such municipality. Any warrants issued under the provisions of this
article may be in such denomination or denominations, may have such maturity or maturities
not exceeding 30 years from their date, may bear interest from their date at such rate or
rates payable at such times, may be payable at such place or places within or without the
state, may be sold at such time or times and in such manner, whether publicly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-9-22.htm - 2K - Match Info - Similar pages
2-3A-54
Section 2-3A-54 Expenses; disposition of proceeds. Upon order of the board of directors of
said authority, all expenses incurred in connection with the authorization, preparation, sale,
and issuance of bonds authorized herein and by Amendment 619 shall be paid out of the proceeds
thereof. The proceeds thereof remaining after payment of such expenses, together with the
income derived from the investment and reinvestment of such proceeds (including income derived
from the investment and reinvestment of previously derived income) shall be disbursed from
time to time on the order of said authority for payment of costs incurred in carrying out
the purposes authorized in said amendment, as follows: The sum of five million seven hundred
thousand dollars ($5,700,000) shall be used for the purpose of providing and the equipping
of a center for cotton, cotton products technology, and for its use as an educational, applied
research, and promotional facility in the field of textile and apparel...
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11-81-110
Section 11-81-110 Issuance generally; pledge of proceeds of assessments, etc., as security
for payment. (a) For the purpose of providing funds to pay the cost of street and sidewalk
improvements, sanitary or storm water sewers or sewer systems, including treatment and disposal
plants and water service connections, or other improvements, whether of a like or any different
kind, the cost of which, in whole or in part, is proposed to be assessed against the property
abutting on said street or sidewalk improved or drained, serviced or benefited by such sanitary
or storm water sewer or sewer system or water service connection or served, improved, increased
in value or otherwise specially benefited by such improvement, for which purpose the Constitution
may now or hereafter permit the issuance of bonds without an election, the governing body
of any municipality may, without an election, from time to time, issue bonds of such municipality
not in excess of the cost of the improvements as...
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41-10-268
Section 41-10-268 Authorization, issuance and sale of bonds. The authority is hereby authorized
from time to time to sell and issue its interest-bearing or noninterest-bearing bonds, in
one or more series, not to exceed an aggregate principal amount of $40,000,000.00, excluding
refunding bonds described in Section 41-10-277, for the purpose of providing funds for the
acquisition, construction, installation and equipping of judicial facilities, and for payment
of obligations incurred for any of said purposes. Bonds of the authority may be in such form
and denominations, may be of such tenor, may be payable in such installments and at such time
or times not exceeding 30 years from their date, may be payable at such place or places, may
be redeemable at such times and under such conditions, may bear interest at such rate or rates
payable and evidenced in such manner or may be structured to bear no interest or to reflect
compound interest and may be secured in such manner, all as shall not...
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11-50A-20
Section 11-50A-20 Trust agreement. In the discretion of the authority, any issue of bonds may
be secured by a trust agreement or indenture made by the authority with a corporate trustee,
which may be any trust company or bank within or without the state having the powers of a
trust company. The trust agreement or indenture may pledge or assign any revenues to be received
by the authority and any proceeds which may be derived from the disposition of any real or
personal property of the authority or proceeds of insurance carried thereon. The resolution
providing for the issuance of bonds and the trust agreement or indenture may contain any provisions
the authority deems necessary or appropriate for protecting and enforcing the rights and remedies
of the bondholders, including the right of appointment of a receiver upon default in the payment
of any principal or interest obligation and the right of any receiver or trustee to enforce
collection of any rates, fees, tolls, charges, or...
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11-61A-13
Section 11-61A-13 Bonds. (a) The authority may issue and sell its interest-bearing revenue
bonds for any corporate purpose at any time or times. The principal of and the interest on
the bonds shall be payable solely from, and may be secured by a pledge of, the revenues derived
by the authority from the operation of any or all of its parking facilities and other property,
or by mortgage of any property of the authority. The bonds issued or contracts entered by
the authority shall not constitute or create an obligation, debt, or charge against the credit
or taxing power of the state, any county, or municipality within the state. (b) The board
may provide for each of the following regarding the bonds: (1) Issuance time or times. (2)
Form and denominations. (3) Tenor. (4) Payment installments, which shall be at a time or times
not exceeding 40 years from their date. (5) Place or places of payment, whether within or
without the state. (6) Interest rate or rates payable and evidenced in a...
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