|
11-54-128
The directors may, in either the authorizing resolution or the trust agreement authorized thereby,
or, at the discretion of the directors, in both, all as the directors shall deem appropriate,
set out all of the following: (1) The general purpose or purposes of such fund, and, subject
to the provisions of Section 11-54-129, the purpose or purposes for which moneys held in and
forming a part of such fund may be expended and the manner in which all other properties,
whether real or personal, tangible or intangible contributed to such fund may be managed,
used and disposed of. (2) A procedure or procedures for the distribution or expenditure of
such moneys and the management, use, and disposition of such other properties. (3) The period,
if any, for the duration of the fund, except that the period may not exceed the duration of
the board itself. (4) Any limitations, conditions, or restrictions to be placed on the investment
committee with respect to the investment policy...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-128.htm - 2K - Match Info - Similar pages
11-54-130
authorized by this division to be addressed therein, an investment policy may contain such
provisions as the investment committee may deem advisable with respect to the purchase, sale,
and disposition of investments by a fund manager with or without the prior approval, whether
written or oral of such committee. The investment committee shall monitor the performance
of investments of moneys held in and forming a part of such fund, compliance with the investment
policy, and if and to the extent authorized by the directors to do so, the management, use,
and disposition of any other properties, whether real or personal, tangible or intangible,
contributed to the fund. (d) The directors may authorize the investment committee or any fund
manager, or any one or more of them, to provide for the management, use, and disposition of
any properties, other than money, contributed to the fund, subject to such conditions or limitations
as the directors deem advisable. (Act 2000-730, p. 1569, ยง6.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-130.htm - 3K - Match Info - Similar pages
22-30F-3
Section 22-30F-3 Definitions. The following words and phrases, whenever used in this chapter,
shall have the following respective meanings unless the context clearly indicates otherwise:
(1) AUTHORITY. The corporation organized pursuant to this chapter as a public corporation,
agency, and instrumentality of the state and known as the "Alabama Land Recycling Finance
Authority." (2) AUTHORIZING RESOLUTION. A resolution, order, or other proceedings adopted
by the board of directors of the authority authorizing the issuance of agreements and related
matters. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) DEPARTMENT.
The Alabama Department of Environmental Management or any successor. (5) ELIGIBLE PROPERTY.
Property which qualifies under Section 22-30E-6 for participation in the voluntary cleanup
program established pursuant to Chapter 30E of this title, and which is owned and operated
by an applicant or applicants which qualifies for the limitation of liability as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-30F-3.htm - 5K - Match Info - Similar pages
16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized and empowered
to issue its bonds from time to time for the purpose of making equipment loans to finance
equipment costs incurred or to be incurred by educational institutions. Such bonds may be
in such aggregate principal amount as the board of directors shall determine to be necessary
to pay the equipment costs included in such financing. The authority may pay from the proceeds
of the sale of its bonds all expenses, including publication and printing charges, attorneys'
fees, financial advisory fees, and other expenses which the board of directors may deem necessary
or advantageous in connection with the authorization, advertisement, sale, execution, and
issuance of its bonds or the making of equipment loans from the proceeds thereof. (b) Source
of payment. All bonds issued by the authority shall be limited obligations of the authority
payable solely from any combination of the following: (1) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-6.htm - 7K - Match Info - Similar pages
11-32-7
and trust indentures, or either. (17) Exercise the power of eminent domain, except as limited
by state law, except the authority may not acquire, without the consent of the owner, any
transportation system from which public transportation service is currently being furnished.
The authority may not by eminent domain acquire any real property or rights owned or held
by public or private railroads or utilities. (18) Expend funds for the purchase or lease of
materials, equipment, supplies, or other personal property without compliance with
Chapter 16 of Title 41. (19) Appoint, employ, contract with, and provide for the compensation
of, officers, employees, and agents, including, but without limitation to, engineers, attorneys,
management consultants, fiscal advisers, or other consultants without regard to Chapter 16
of Title 41, or any law establishing a civil service or merit system that might otherwise
be applicable, as the business of the authority may deem necessary or desirable, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-32-7.htm - 14K - Match Info - Similar pages
11-54-133
Section 11-54-133 Termination or dissolution of fund. Upon the termination or dissolution of
an endowment trust fund, all properties held in and forming a part of such fund, whether real
or personal, tangible or intangible, and whether characterized as principal or income
of such fund, shall continue to be or shall become, as the case may be, the property of the
industrial development board that created or established the fund; provided, that the board
may, subject to any applicable conditions set out in either the authorizing resolution or
the trust agreement pertaining to the fund, from time to time pay over, distribute, or convey,
with or without consideration, to the municipality whose governing body authorized the incorporation
of the board, all or any of the properties or any portion or portions thereof. After the termination
or dissolution of the fund, all such properties may be expended or used, whether by the board
or the municipality, for one or more of the purposes specified...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-133.htm - 1K - Match Info - Similar pages
11-54-129
Section 11-54-129 Use of assets. (a) Subject to succeeding provisions hereof with respect to
the investment of moneys held in and forming a part of an endowment trust fund, and the management,
use, and disposition of other properties, whether real or personal, tangible or intangible,
contributed to such fund, all moneys held in and forming a part of an endowment trust fund,
whether such moneys may be characterized as either principal or income of such fund, may be
expended, and all other properties contributed to a trust fund may be used only to induce
new business, manufacturing, industrial, commercial, service, and research enterprises, whether
or not any such enterprise, or any property to be utilized in connection therewith, would
constitute a "project" within the meaning of either industrial development board
act, to locate within the statutory service area of the board that created such fund, and
to foster activities and policies conducive to the continuing prosperity of such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-129.htm - 3K - Match Info - Similar pages
11-54-127
of incorporation to the contrary, any industrial development board shall have all of the following
powers, together with all powers incidental thereto or necessary to the discharge thereof
in corporate form: (1) To create or establish one or more endowment trust funds. (2) To receive
and accept from any private source, for the account of any endowment trust fund so created
or established by it, contributions in the form of gifts of money, stocks, bonds, and other
debt securities, other personal property, whether tangible or intangible, and real
property of any description, subject, in the case of any such contribution, to any lawful
condition to the use thereof that is specified by the donor thereof and that is not inconsistent
with the provisions of this division. (3) To deposit, or to cause to be deposited, into any
endowment trust fund created by it any moneys derived by the board from the leasing or sale
of any project or otherwise received by the board in connection with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-127.htm - 4K - Match Info - Similar pages
41-10-755
Section 41-10-755 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds for the purpose of providing funds to be transferred to
and deposited in the Alabama Trust Fund and the Rainy Day Account, to provide additional funds
to the Alabama Medicaid Agency, for paying the costs of transportation projects, and for the
purpose of refunding any or all of the authority's outstanding bonds. (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 applicable to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-755.htm - 5K - Match Info - Similar pages
41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations. The
authority is authorized and empowered to issue its project obligations from time to time for
the purpose of financing one or more projects in such aggregate principal amount as the board
of directors shall determine to be necessary to provide for all or a portion of the project
costs of the project or projects being financed and to pay the expenses of issuing the project
obligations. (b) Source of payment. All project obligations issued by the authority shall
be limited obligations of the authority payable solely from any combination of the following:
(1) The revenues and receipts of the authority derived from the financing agreement or agreements
entered into by the authority with respect to the project or projects financed by such project
obligations; (2) the income or proceeds realized by the authority under any mortgage or other
security granted to the authority; (3) amounts derived from any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.6.htm - 7K - Match Info - Similar pages
|