41-10-45.2
Section 41-10-45.2 Fund created; project obligations. (a) There is created the Accelerate
Alabama Fund, which may consist of monies appropriated or otherwise made available by the
Legislature in any manner, proceeds of project obligations issued by the authority, and monies
from any other source designated for deposit into such fund, but not including monies subject
to a constitutional designation for some other purpose. Unexpended amounts remaining in the
fund at the end of each fiscal year of the state shall not lapse into the State General Fund.
Any investment earnings or interest earned on amounts in the fund and all loan payments of
principal and/or interest shall be deposited to the credit of the fund. (b) In addition to
the purposes for which the authority may issue project obligations, the authority is hereby
authorized to issue project obligations to provide money for the fund. Project obligations
shall be issued as provided in Section 41-10-44.6, subject, however, to the...
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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject
additions to the trust property from a settlor or any other person, including, but not being
limited to, the authority to receive, collect, hold, and retain common or preferred stock
or other interests in the trustee or any related party; (2) acquire or sell property, for
cash or on credit, at public or private sale; (3) exchange, partition, or otherwise change
the character of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
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41-10-28
Section 41-10-28 Execution of bonds and interest coupons; form, terms, denominations,
etc., of bonds; sale; refunding bonds; liability upon bonds; pledges of certain funds as security
for payment of principal and interest on bonds generally; bonds to be deemed negotiable instruments;
bonds and income therefrom exempt from taxation; use of bonds as security for deposits of
funds of state, etc.; investment of certain state funds and private trust funds in bonds;
public hearing or consent of Department of Finance, etc., not a prerequisite to issuance of
bonds. 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 said officers may be printed or otherwise reproduced on any such
bonds in lieu of being manually subscribed thereon, a facsimile of the...
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35-8A-316
Section 35-8A-316 Lien for assessments. (a) The association has a lien on a unit for
any assessment and any other moneys due the association for special assessments or services
or charges, such as water or repairs, levied against that unit or fines imposed against its
unit owner from the time the assessment or fine becomes due. The association's lien may be
foreclosed in like manner as a mortgage on real estate provided the declaration is in conformity
with Article 1A of Chapter 10 of this title and subject to the rights under Article 14A of
Chapter 5 of Title 6. The association shall send reasonable advance notice of its proposed
action to the unit owner and all lienholders of record of the unit. Unless the declaration
otherwise provides, fees, charges, late charges, fines, and interest charged pursuant to Section
35-8A-302(a)(10), (11), and (12) are enforceable as assessments under this section.
If an assessment is payable in installments, the full amount of the assessment is a lien...

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41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from
time to time to sell and issue its bonds in limited amounts and for the purpose of promoting
economic development and industrial recruitment as specified by the Legislature from time
to time by separate act, provided that refunding bonds may be issued by the authority pursuant
to Section 41-10-627 without first obtaining separate authorization from the Legislature.
(b) Sources of payment. Bonds issued by the authority shall be solely and exclusively an obligation
of the authority and shall not create an obligation or debt of the state. Such bonds shall
not be general obligations of the authority but shall be payable solely from one or more of
the following sources: (1) Appropriated funds. (2) The income or proceeds realized by the
authority under any mortgage or security granted to the authority. (3) Amounts derived from
any letter of credit, insurance policy, or other form of credit enhancement...
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22-21-182
Section 22-21-182 Borrowing by corporation generally; debts not obligations of state,
counties or municipalities; tax exemptions. (a) All securities of the corporation shall be
signed in the name and behalf of the corporation by its chairman and attested by its secretary,
but a facsimile of the signature of one, but not both, of such officers may be printed thereon
in lieu of the manual signature of such officer, and the seal of the corporation shall be
affixed thereto or a facsimile thereof printed thereon. Any interest coupons applicable to
any securities of the corporation shall be signed by its chairman, but a facsimile of such
chairman's signature may be printed on any such interest coupons in lieu of his manually signing
the same. Any securities of the corporation may be executed and delivered by it at any time
and from time to time, shall be in such form and denomination and of such tenor and maturity
or maturities not exceeding 40 years from their date, shall contain such...
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2-3A-7
Section 2-3A-7 Powers of authority; open meetings. (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 2-3A-14) 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, not inconsistent
with the provisions of this article, for the regulation and conduct of its affairs and business;
(5) To loan its funds to one or more persons to be used by such persons to pay the costs of
agricultural operations, such loans to be on such terms and conditions, and for such period
of time, and secured or evidenced by such mortgages, deeds of trust, notes, debentures,...

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22-21-318
Section 22-21-318 Powers of authority. (a) In addition to all other powers granted elsewhere
in this article, and subject to the express provisions of its certificate of incorporation,
an 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 in perpetuity, specified in its certificate of
incorporation or until dissolved as provided in Section 22-21-339; (2) To sue and be
sued in its own name in civil suits and actions, and to defend suits and actions against it,
including suits and actions ex delicto and ex contractu, subject, however, to the provisions
of Chapter 93 of Title 11, which chapter is hereby made applicable to the authority; (3) To
adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter,
amend and repeal bylaws, regulations and rules, not inconsistent with the...
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11-50A-9
Section 11-50A-9 Issuance of bonds; prerequisites; procedure; provisions; execution;
bond resolution covenants. (a) The authority shall, prior to the adoption by the board of
a resolution authorizing the issuance of any bonds, enter into one or more contracts with
two or more municipalities which are authorized to contract with the authority pursuant to
Section 11-50A-17. Any resolution of the board authorizing the issuance of bonds may
authorize those bonds to be issued in more than one series, and the issuance of each series
of bonds so authorized by that resolution need not be preceded by the entering into by the
authority of additional contracts pursuant to Section 11-50A-17. (b) The board may
by resolution or resolutions authorize the issuance of bonds. Unless otherwise provided therein,
the resolution or resolutions shall take effect immediately and need not be published or posted.
The board may authorize such types of bonds as it may determine, subject only to any agreement
with...
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11-54A-9
Section 11-54A-9 Powers of authority; all projects to be in development area. (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 11-54A-20,
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...

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