16-18B-14
Section 16-18B-14 Exemption from taxes; use of bonds as security; investment of funds. All bonds (including refunding bonds) issued pursuant hereto, and the income therefrom (including the interest income thereon) shall be free from all taxation by the state or any county, municipality, or other political subdivision or instrumentality of the state, excepting inheritance, estate, and gift taxes. Any bonds issued by the corporation may be used by the holder thereof as security for any funds belonging to the state or to any instrumentality or agency of the state in any instance where security for such deposits may be required by law. Unless otherwise directed by the court having jurisdiction thereof, or by the document that is the source of authority, a trustee, executor, administrator, guardian, or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust and other...
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22-21-313
Section 22-21-313 Application for incorporation of authority; authorizing resolution. (a) In order to incorporate an authority, any number of natural persons, not less than three, shall first file a written application with the governing body of any county, municipality, or educational institution, or any two or more thereof, which application shall: (1) Recite the name of each county, municipality, and educational institution with the governing body of which such application is being filed; (2) Contain a statement that the applicants propose to incorporate an authority pursuant to the provisions of this article; (3) State either a. where the authorizing subdivision is a county or municipality, that each of the applicants is a duly qualified elector of the authorizing subdivision (or, if there is more than one, at least one thereof) or b. where the authorizing subdivision is an educational institution, that each of the applicants is a duly qualified elector of the state; and (4)...
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4-3-45
Section 4-3-45 Board of directors of authority. Each authority shall be governed by a board of directors of either three, five, or seven members as provided in the certificate of incorporation or the bylaws. If the sole authorizing subdivision is a county, the county commission of the county shall elect all directors. If the sole authorizing subdivision is a municipality, the governing body of such municipality shall elect all directors. The directors initially elected shall be elected for terms of office of two, four, and six years, respectively, and their successors shall be elected for terms of six years. If a county and a municipality are both authorizing subdivisions, the governing body of the municipality shall elect one director for an initial term of two years if three directors are to be elected, and one director for an initial term of two years and one director for an initial term of four years if five directors are to be elected, and one for an initial term of two years and...
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16-17-3
Section 16-17-3 Procedure to incorporate. (a) By proceeding in the manner set forth herein, any number of natural persons, not less than three, may incorporate an educational building authority as a public corporation and as a political subdivision of the state. The said natural persons shall first file with the governing body of any municipality the proposed form of the certificate of incorporation of the authority, together with a written application seeking permission to apply for the incorporation of an authority for such municipality. Every such application shall also be accompanied by such supporting documents or evidence as the applicants may consider appropriate to show the need for an authority for the said municipality. The said governing body shall consider the said application and shall find and determine whether it is wise, expedient, necessary or advisable that the authority be formed; if the said governing body finds and determines that it is not wise, expedient,...
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16-18-3
Section 16-18-3 Procedure to incorporate. (a) By proceeding in the manner set forth herein, any number of natural persons, not less than three, may incorporate an educational building authority as a public corporation and as a political subdivision of the state. The said natural persons shall first file with the governing body of any municipality the proposed form of the certificate of incorporation of the authority, together with a written application seeking permission to apply for the incorporation of an authority for such municipality. Every such application shall also be accompanied by such supporting documents or evidence as the applicants may consider appropriate to show the need for an authority for the said municipality. The said governing body shall consider the said application and shall find and determine whether it is wise, expedient, necessary or advisable that the authority be formed; if the said governing body finds and determines that it is not wise, expedient,...
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41-10-179
Section 41-10-179 Taxation of income, property, leases, bonds, etc., of the authority. The authority shall have a tax-exempt status, and the properties of the authority and the income therefrom, all lease agreements and contracts made by it, all bonds issued by it and the coupons applicable thereto and the income therefrom and all indentures executed with respect thereto shall be forever exempt from any and all taxation by the State of Alabama and any political subdivision thereof, including, but not limited to, income, admission, amusement, excise, and ad valorem taxes. (Acts 1981, No. 81-792, p. 1390, §10.)...
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45-37-90.07
Section 45-37-90.07 Collection of fees and charges. (a) The Legislature hereby makes the following findings: (1) Amendment 280 to the Constitution of Alabama 1901, provides that no tax levied by the state or any municipality or county of the state shall apply to the authority, unless such tax applies to the county and to the city where the authority is incorporated. (2) The authority engages in various transactions at its facilities that would give rise to taxes that would be levied by the state or any municipality or county of the state with respect to such transactions if Amendment 280 did not exempt the authority from such taxes, such taxes being herein referred to as transaction-related taxes. These transaction-related taxes may include, but shall not be limited to, leasing or rental taxes, sales taxes, lodging taxes, and taxes on the sale of alcoholic beverages or tobacco products. The Legislature intends that the authority shall be allowed to collect a fee or charge in lieu of...
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16-65-11
Section 16-65-11 Exemptions from taxation, fees, and costs. The property and income of the authority, all bonds issued by the authority, the income from such bonds or from any other sources, the interest and other profits from such bonds enuring to and received by the holders thereof, conveyances by and to the authority and leases, mortgages, and deeds of trust by and to the authority shall be exempt from all taxation in the State of Alabama. The authority shall not be obligated to pay or allow the payment of any fees, taxes, or costs to the Secretary of State or to any judge of probate of any county in connection with the recording by it of any document or otherwise, the authority being hereby exempted from the payment of any such fees, taxes, and costs. No license or excise tax may be imposed by any authority with respect to the privilege of engaging in any of the activities in this chapter. (Acts 1997, No. 97-388, p. 632, §11.)...
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11-50-322
Section 11-50-322 Exemption from taxation of bonds, property, and income of corporation; other exemptions. The property and income of each corporation formed or the certificate of incorporation of which is amended under this article and all bonds issued by each such corporation and the income from such bonds and conveyances by or to each such corporation and mortgages and indentures of trust by or to each such corporation shall be exempt from all taxation in the State of Alabama. Each such corporation shall also be exempt from all sales and use taxes and gross receipts taxes levied by the state and any political subdivision thereof with respect to the purchase, sale, use, or consumption of property; provided, however, that the provisions of this section shall not be construed to exempt any such corporation from the privilege or license tax levied by Section 40-21-82 or the excise tax levied by Section 40-21-102; and provided, further, that any such sales, use, or gross receipts taxes...
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11-94-1
Section 11-94-1 Definitions. Whenever used in this chapter, unless the context plainly indicates otherwise, the present term shall include the future term, the singular shall include the plural, the plural shall include the singular, the masculine shall include the feminine, and the following words and phrases shall have the following meanings respectively ascribed to them by this section: (1) AUTHORITY. A nonprofit public corporation organized pursuant to the provisions of this chapter. (2) AUTHORIZING SUBDIVISION. Any county or municipality to which application has been made for authority to incorporate an authority under this chapter. (3) BOARD. The board of directors of an authority. (4) DIRECTOR. A member of the board of directors of an authority. (5) COUNTY. Any county in this state that abuts on a navigable river or through which a navigable river runs. (6) GOVERNING BODY. With respect to a county, the county commission and, with respect to a municipality, the council,...
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