11-54-55
Section 11-54-55 Bonds - Security for payment of principal and interest. The principal of and
interest on any bonds issued under the authority of this article shall be secured by a pledge
of the revenues out of which such bonds shall be made payable, may be secured by a mortgage
covering all or any part of the project from which the revenues so pledged may be derived
and may be secured by a pledge of the lease of such project. The proceedings under which such
bonds are authorized to be issued or any such mortgage may contain any agreements and provisions
customarily contained in instruments securing bonds, including, without limiting the generality
of the foregoing, provisions respecting the fixing and collection of rents for any project
covered by such proceedings or mortgage, the terms to be incorporated in the lease of such
project, the maintenance and insurance of such project, the creation and maintenance of special
funds from the revenues from such project and the rights and...
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11-55-6
Section 11-55-6 Refunding bonds. Any bonds issued under this chapter and at any time outstanding
may at any time and from time to time be refunded by a municipality by the issuance of its
refunding bonds in such amount as the governing body may deem necessary but not exceeding
an amount sufficient to refund the principal of the bonds so to be refunded, together with
any unpaid interest thereon and any premiums and commissions necessary to be paid in connection
therewith. Any such refunding may be effected whether the bonds to be refunded shall have
then matured or shall thereafter mature, either by sale of the refunding bonds and the application
of the proceeds thereof for the payment of the bonds to be refunded thereby or by exchange
of the refunding bonds for the bonds to be refunded thereby; provided, that the holders of
any bonds so to be refunded shall not be compelled without their consent to surrender their
bonds for payment or exchange prior to the date on which they are...
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11-88-95
Section 11-88-95 Notice of and sale or exchange of bonds. All bonds issued under this article,
except bonds issued to the contractor and except funding and refunding bonds issued by exchange
as provided in this section, shall be sold to the highest bidder at public sale; provided,
that if at a duly advertised public sale in accordance with this section no legal bid acceptable
to the governing body shall be received, then such bonds may be sold within 30 days thereafter
at private sale to the United States of America or to the State of Alabama. The public sale
shall be either on sealed bids or at auction. The notice of a public sale shall state whether
the sale is to be on sealed bids or at auction and shall also briefly recite the amount of
the bonds to be sold, the maturities thereof, the amount payable at each maturity, any redemption
or prepayment privileges, the frequency with which interest will be payable, either the rate
or rates of interest which the bonds are to bear or that...
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22-21-150
Section 22-21-150 Bonds - Default. (a) In event of default on bonds. If there should be any
default in the payment of the principal of, or interest on, any bonds issued under this article,
then the holder of any of the bonds, and of any of the interest coupons applicable thereto,
and the trustee under any indenture, or any one or more of them: (1) May, by mandamus, injunction
or other proceedings, compel performance of all duties of the officers and directors of the
authority with respect to the use of funds for the payment of the bonds and for the performance
of the agreements of the authority contained in the proceedings under which they were issued;
(2) Shall be entitled to a judgment against the authority for the principal of, and interest
on, the bonds so in default; and (3) Regardless of the sufficiency of the security for the
bonds in default and as a matter of right, shall be entitled to the appointment of a receiver:
a. To make lease agreements respecting the project out of...
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33-2-8
Section 33-2-8 General provisions relative to inland waterways improvement bonds and temporary
loans. In order to provide funds for the purposes herein authorized, the Governor is hereby
empowered to execute, with the concurrence of the director of state docks, and to sell the
state's bonds in such amounts, not exceeding in the aggregate the sum of $3,000,000.00 as
may be necessary for said purposes, all under and subject to the following provisions: Said
bonds shall be appropriately designated as inland waterways improvement bonds of the state.
The bonds may be issued from time to time in one or more series and the bonds of each series
shall be payable in substantially equal annual installments of principal and interest at such
times as may be designated by the State Docks Department with approval of the Governor; provided,
that the first installment of principal of the bonds of each series must mature not later
than 10 years from the date of such series and the last installment of...
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41-10-308
Section 41-10-308 Temporary loans in anticipation of issuance of bonds. In anticipation of
issuance of bonds under this article, the authority may, from time to time, borrow such sums
as may be needed for any of the purposes for which bonds are authorized to be issued under
this article, and in evidence of the moneys so borrowed may issue its promissory notes. The
principal of and the interest on notes so issued may, from time to time, be refunded by refunding
notes or by bonds in anticipation of the issuance of which such notes were issued. All such
notes, whether initial issues or refunding issues, may bear interest from their dates until
their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
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41-10-498
Section 41-10-498 Temporary loans in anticipation of issuance of bonds. In anticipation of
issuance of bonds under this article, the authority may, from time to time, borrow such sums
as may be needed for any of the purposes for which bonds are authorized to be issued under
this article, and in evidence of the moneys so borrowed by issue of its promissory notes.
The principal of and the interest on notes so issued may, from time to time, be refunded by
refunding notes or by bonds in anticipation of the issuance of which such notes were issued.
All such notes, whether initial issues or refunding issues, may bear interest from their dates
until their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
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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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11-88-102
Section 11-88-102 Authorization and procedure generally for settlement, adjustment, or refunding
of bonds. The board shall have the power to settle, adjust, and refund any bonds issued under
this article, whether such bonds have already become due and payable or are about to become
due and payable or are callable according to their terms, when the board deems it to the best
interest of the authority to call said bonds and raise funds for the payment thereof by the
sale of bonds as authorized in this article; provided, that all sums derived from the payment
of assessments and being in the hands of the authority at the time of such refunding shall
be first applied to the payment of the outstanding bonds, and refunding bonds shall be issued
only in such amount as shall be necessary to raise the difference between the amount required
for the payment of the outstanding bonds and the amount held for the payment thereof. (Acts
1973, No. 826, p. 1293, §62.)...
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23-1-177
Section 23-1-177 Bonds - Generally. (a) The bonds of the corporation shall be signed by its
president and attested by its secretary, and the seal of the corporation shall be affixed
thereto or printed or otherwise reproduced thereon; 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 signing the same. (b) Any bonds of the corporation may be executed and
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 such
other provisions not inconsistent with this article, all as may be provided by the resolution
of the board of directors under which such bonds are authorized to be issued; provided, that
no bond of the corporation shall have a specified maturity date...
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