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11-54-81
Section 11-54-81 Legislative intent; construction of division generally. (a) It is the intent
of the Legislature by the passage of this division to authorize the incorporation in the several
municipalities in this state of industrial development boards to acquire, enlarge, improve,
replace, own, lease, and dispose of properties to the end that such boards may be able to
promote industry, develop trade, and further the use of the agricultural products and natural
and human resources of this state and the development and preservation of the said resources,
by inducing manufacturing, industrial, commercial, and research enterprises: (1) To locate
in this state, (2) To enlarge, expand, and improve existing operations in this state, or (3)
To relocate in or within 25 miles of the same municipality in this state operations theretofore
conducted at a site all or a major portion of which may have been acquired for one or more
public purposes by the United States of America, the State of...
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11-89-7
specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil
actions, except as otherwise provided in this chapter, and to defend civil actions against
it; (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, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property
of every description, real, personal, or mixed, whether located in one or more counties
or municipalities and whether located within or outside the service area; (6) To make, enter
into, and execute such contracts, agreements, leases, and other instruments and to take such
other actions as may be necessary or convenient to accomplish any purpose for which the district
was organized or to exercise any power expressly granted under this section; (7) To plan,
establish, develop, acquire, purchase, lease, construct, reconstruct,...
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4-3-47
perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its own
name in civil actions, excepting actions in tort against the authority; (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, receive, take and
hold, whether by purchase, option to purchase, gift, lease, devise or otherwise, property
of every description, whether real, personal or mixed, whether in one or more counties
and whether within or without the corporate limits of any authorizing subdivision, and to
manage said property and to develop any property and to sell, exchange, lease or grant an
option to purchase any property (whether developed or undeveloped) owned, leased or controlled
by it; (6) To make, enter into, execute and perform such contracts, agreements, leases and
other instruments and to take such other action as may be necessary or convenient to...
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11-54-126
Section 11-54-126 Legislative findings and intent. (a) The Legislature hereby finds and declares
all of the following: (1) That industrial development boards have been, and may hereafter
be, organized, under the provisions of either industrial development board act, to promote
industry, develop trade, and further the use of the agricultural products and natural and
human resources of the State of Alabama and the development and preservation of such resources.
(2) That in order to enable all industrial development boards to act more effectively to promote
both the establishment of new business, manufacturing, industrial, commercial, service, and
research enterprises, and the expansion of such enterprises already existing in Alabama, it
is advisable that they be empowered to receive, manage, use, and expend contributions from
private sources that are separate from and in addition to any other moneys or other properties
that such boards are empowered by law to expend or to own. (3) That...
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11-54-21
Section 11-54-21 Legislative intent; construction of article generally. (a) It is the intent
of the Legislature by the passage of this article to authorize municipalities to acquire,
own, and lease and, in connection with any such acquisition, to enlarge, improve, and expand
projects for the purpose of promoting industry and trade and controlling, abating, or preventing
pollution (including preventing pollution which may be caused by the location, development,
or expansion of industry or commerce) by inducing manufacturing, industrial, commercial, and
research enterprises to locate in this state or to expand and enlarge existing enterprises
or to utilize pollution control facilities in order to control, abate, or prevent pollution
from present or proposed operations or by any combination of two or more thereof promoting
the use of agricultural products and natural resources of this state and promoting a sound
and proper balance in this state between agriculture, commerce, and industry....
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11-20-31
Section 11-20-31 Legislative intent; construction of article generally. (a) It is the intent
of the Legislature by the passage of this article to authorize the incorporation in the several
counties in this state of public corporations to acquire, enlarge, improve, replace, own,
lease and dispose of properties to the end that such corporations may be able to promote industry,
develop trade and further the use of the agricultural products and natural and human resources
of this state and the development and preservation of the said resources. It is the further
intent of the Legislature by the passage of this article to vest such public corporations
with all powers that may be necessary to enable them to accomplish such purposes. It is not
intended hereby that any such corporation shall itself be authorized to operate any manufacturing,
industrial, commercial or research enterprise. (b) This article shall be liberally construed
in conformity with the said intention. (Acts 1977, No. 762,...
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11-54-88
Section 11-54-88 Additional powers as to pollution control facilities. (a)(1) In addition to
all other powers at any time conferred on them by law, each industrial development board shall
have the following powers: a. To acquire, whether by construction, purchase, exchange, gift,
lease, or otherwise and to enlarge, improve, replace, equip, and maintain one or more pollution
control facilities, including all real and personal properties deemed necessary or
desirable in connection therewith, including the sale and issuance of bonds for any of the
said purposes; b. To lease to others and otherwise dispose of all or any portion of any pollution
control facility; and c. To exercise with respect to any pollution control facility and each
part thereof any and all powers that are conferred on industrial development boards by other
provisions of this division. Each pollution control facility so acquired by any industrial
development board may be a part of another project or may constitute a...
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41-10-541
such obligations, and which meet the greater of 100% collateralization or the "AA"
collateral levels established by Standard & Poor's Rating Group for structured financings;
and h. Uncollateralized investment agreements with, or certificates of deposit issued by banks
or bank holding companies, the senior long-term securities of which are rated at least "AA"
by Standard & Poor's Rating Group and at least "Aa" by Moody's Investors Service.
(11) FINANCED PROPERTY. All property whether real, personal, or mixed, the costs of
which were or are to be paid or reimbursed in whole or in part with the proceeds of bonds
of the authority or the proceeds of authority-guaranteed obligations. (12) FINANCING AGREEMENT.
Any loan, lease, agreement, grant agreement, financing agreement, credit agreement, security
agreement, mortgage, indenture, guaranty agreement, or other type of agreement entered into
by the authority in connection with the incurring of authority obligations. (13) FUNDING AGREEMENT....
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11-94-9
office in the municipality which is an authorizing subdivision and sub-offices at such other
place or places within the county which is an authorizing subdivision as its board may designate;
(4) To sue and be sued in its own name, excepting actions in tort against the authority; (5)
To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise and to
improve, equip, and furnish and to own and maintain one or more projects or parts thereof,
including all real and personal properties and interests therein which its board may
deem necessary in connection therewith, regardless of whether or not any such project or projects
shall then be in existence; (6) To acquire, whether by purchase, construction, exchange, gift,
or otherwise and to improve rights-of-way, streets, approaches, roads, railroad lines, interests
in land, including the fee simple title to real property and riparian rights necessary or
useful and convenient in gaining access, entry, or approach to...
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33-12-5
grants or other assistance from federal, state and local governments or from agencies of such
governments and by issuing in its own name revenue bonds pledging a portion of the revenues
from such facilities. f. Arrange with any city, county, municipality or supplier of utilities
for the abandonment, relocation or other adjustment of roads, highways, bridges and utility
lines. (3) LAND ACQUISITION. The agency may acquire by purchase, lease, gift or condemnation
property of any kind, real, personal or mixed, or any interest therein, that the board
deems necessary or convenient to the exercise of its powers or functions; provided, that acquisition
by condemnation shall be limited to land, rights in land, including leaseholds and easements,
and water rights in the Alabama portion of the Elk River Watershed that the board determines
to be necessary to the control and optimum development of the Elk River. The amount and character
of the interests in land, rights in land and water rights...
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