4-3-14
Section 4-3-14 Issuance and sale of bonds by authority; form, denominations, terms,
etc., of bonds. The authority shall have the power and is hereby authorized at any time and
from time to time to issue and sell its interest-bearing revenue bonds for any of its corporate
purposes. The principal of and the interest on all such 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 airports, heliports, facilities and other property. None of the bonds
issued or contracts entered into by the authority shall ever constitute or create an obligation
or debt of the state or of any county, city or town within the state, or a charge against
the credit or taxing powers of the state or of any county, city or town within the state.
Bonds of the authority may be issued at any time and from time to time, may be in such form
and denominations, may be of such tenor, may be payable in such installments and at...
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4-3-51
Section 4-3-51 Bonds - Issuance and sale generally; payment of principal and interest
generally; form, denominations, terms, etc. The authority shall have the power and is hereby
authorized at any time and from time to time to issue and sell its interest-bearing revenue
bonds for any of its corporate purposes. The principal of and the interest on all such 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 airports, heliports, facilities and other
property. None of the bonds issued or contracts entered into by the authority shall ever constitute
or create an obligation or debt of the state or of any county or municipality within the state,
or a charge against the credit or taxing powers of the state or of any county or municipality
within the state. Bonds of the authority may be issued at any time and from time to time,
may be in such form and denominations, may be of such tenor, may be...
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41-10-312
Section 41-10-312 Specifications and priority of bonds. Any bonds of the authority 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,
fixed or floating, payable and evidenced in such manner, may contain provisions for redemption
prior to maturity and may contain other provisions not inconsistent with this section,
all as may be provided by the resolution of the board of directors whereunder such bonds are
authorized to be issued; provided that no bond of the authority shall have a specified maturity
date later than 30 years after its date. In the event that the authority shall make more than
one pledge of the same revenues, such pledges shall, unless otherwise provided in the resolution
or resolutions authorizing the earlier issued bonds, take precedence in the order of the adoption
of the resolutions in which the pledges are made; provided, that each...
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2-3A-31
Section 2-3A-31 Issuance and redemption. The bonds of each series issued pursuant to
this article may be issued as serial bonds payable in annual installments or as term bonds
or as a combination thereof, and the principal of the bonds of each such series shall mature
or be subject to mandatory redemption according to such schedule as the board of directors
of said authority shall determine in the resolution authorizing the issuance of such series.
Provided, however, no bonds shall be sold nor counsel or other professional hired or retained
by the authority prior to February 1, 1999. Such bonds may be made subject to redemption prior
to their respective maturities, at the option of the state, on such terms and conditions as
shall be provided by the board of directors of said authority in the resolution authorizing
the issuance of such series. Any or all of such bonds subject to redemption at the option
of the state may be called for redemption by the authority pursuant to a resolution...
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2-3A-51
Section 2-3A-51 Issuance and redemption. The bonds of each series issued pursuant to
this article may be issued as serial bonds payable in annual installments or as term bonds
or as a combination thereof, and the principal of the bonds of each such series shall mature
or be subject to mandatory redemption according to such schedule as the board of directors
of said authority shall determine in the resolution authorizing the issuance of such series.
Such bonds may be made subject to redemption prior to their respective maturities, at the
option of the state, on such terms and conditions as shall be provided by the board of directors
of said authority in the resolution authorizing the issuance of such series. Any or all of
such bonds subject to redemption at the option of the state may be called for redemption by
the authority pursuant to a resolution adopted by the board of directors thereof if pursuant
to appropriations theretofore made by the Legislature, the moneys required for such...
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24-1A-7
Section 24-1A-7 Proceeds from sale of bonds; use; issuance procedures; distribution
percentages; allocation of proceeds available for single family mortgage loans. (a) All moneys
derived from the sale of any bonds issued by the authority shall be used solely for the purpose
or purposes for which the same are authorized, including costs and expenses of issue. Such
costs and expenses may include but shall not be limited to: (1) The fiscal, legal and other
expenses incurred in connection with the issuance of the bonds; and (2) Except in the case
of refunding bonds, interest to accrue on such bonds for a period ending not later than two
years from their date. (b) Bonds shall be issued in series, each of which shall be separately
designated in the proceedings authorizing their issuance. The board of directors in the proceedings
authorizing a series of bonds (other than refunding bonds) shall specify the purposes for
which the proceeds of such series shall be used. The proceeds of a series...
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41-10-60
Section 41-10-60 Disposition of proceeds from sale of bonds and refunding bonds. (a)
The authority shall pay out of the proceeds from the sale of any of the bonds all expenses,
including fees of agents and attorneys and other charges, which said board of directors may
deem necessary or advantageous in connection with the issuance of the bonds. The proceeds
of the bonds, other than refunding bonds, remaining after paying the expenses of their issuance
shall be turned over to the State Treasurer and shall be carried by him in a special account
to the credit of the authority and shall be subject to be drawn on by the authority solely
for the purposes of acquiring real estate suitable for the purpose of the authority in Jefferson
County, Alabama, including all expenses reasonably necessary in connection with such acquisition,
and erecting, constructing and equipping on such real estate exhibition halls, buildings,
warehouses, storage facilities, parking areas and other structures and...
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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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11-50-405
Section 11-50-405 Bonds - Authorization for issuance; form, terms, denominations, etc.;
execution and delivery; sale; refunding and exchange; issuance of interim receipts or temporary
bonds. The bonds of a district incorporated under this article shall be authorized by resolution
of the board of directors of the district and may be issued in one or more series, may bear
such date or dates, mature at such time or times, bear interest at such rate or rates, be
in such denominations, be in such form, either coupon or registered or both, be executed in
such manner, be payable in such medium of payment, at such place or places, be nonredeemable
or subject to such terms of redemption, with or without premium and be subject to being declared
or becoming due before the maturity date thereof as such resolution or resolutions may provide.
Said bonds may be issued for money or property, either at public or private sale and for such
price or prices as the board of directors shall determine. Such...
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