16-13-304
Section 16-13-304 Terms and conditions; sale; use of proceeds. (a)(1) Warrants issued
pursuant to this article may be in the denomination or denominations; shall have a maturity
or maturities not exceeding 30 years from their date; may bear interest from their date at
the rate or rates payable in the manner and at the times; may be payable at the place or places
within or without the State of Alabama; may be sold for such price and in the manner as provided
in this article; and may contain the terms not in conflict with the provisions of this article;
all as the board may provide in the proceedings pursuant to which the warrants are authorized
to be issued. (2)(i) The board may provide that the warrants shall bear interest at a rate
or rates fixed at the time of the issuance thereof. (ii) With the prior, specific approval
of the State Superintendent, given as provided in this article, the board may provide that
the warrants shall bear interest at rates which may be changed from time to...
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40-12-270
Section 40-12-270 Disbursement of net proceeds from license taxes and registration fees;
Secondary Road Committee created. (a) The moneys collected each month by the judge of probate
from motor vehicle license taxes and registration fees, after deducting therefrom the amounts
referred to in subdivisions (1) and (2) of subsection (a) of Section 40-12-269, the
moneys remaining after making the said deductions being referred to in this section
as "the net proceeds," shall be disbursed by the judge of probate as follows: (1)
That portion of the net proceeds that consists of additional amounts paid under the schedule
of additional amounts set forth in subsection (b) of Section 40-12-248 shall be remitted
by the judge of probate to the State Treasurer who shall distribute said amounts as follows:
a. 64.75 percent of said amounts shall be distributed by the State Treasurer to the State
of Alabama; b. 35.25 percent of said amounts shall be apportioned and distributed by the State
Treasurer...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure.
(a) Bonds issued by any corporation may, as its board may deem advisable, be either general
obligations of such corporation or limited obligations payable only out of certain specified
revenues or assets of such corporation; provided, that any corporation may enter into contracts
with the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
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33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the
agency shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in
its corporate name. b. May sue and be sued in its corporate name. c. May adopt, use and alter
a corporate seal, which shall be judicially noticed. d. May enter into such contracts and
cooperative agreements with the federal, state and local governments, with agencies of such
governments, with private individuals, corporations, associations, trusts and other organizations
as the board may deem necessary or convenient to enable it to carry out the purposes of this
chapter, including the planned, orderly residential development of the area. e. May adopt,
amend and repeal bylaws. f. May appoint such managers, officers, employees, attorneys and
agents as the board deems necessary for the transaction of its business, fix their compensation,
define their duties, require bonds of such of them as the board may...
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22-21-142
Section 22-21-142 Bonds - Refunding. The authority may at any time and from time to
time sell and issue its refunding revenue bonds for the purpose of refunding the principal
of, and interest on, any matured or unmatured bonds of the authority at the time outstanding
and for the payment of any expenses incurred in connection with such refunding and any premium
necessary to be paid to redeem or retire the bonds so to be refunded; provided, that the principal
amount of bonds the authority may issue for refunding purposes may not exceed the sum of the
following: the principal amount of the bonds refunded thereby, the interest to mature thereon
from the immediately preceding interest payment date to their respective maturities (or, in
the event the bonds to be refunded, or any part thereof, are to be retired prior to their
respective maturities, the interest to mature thereon from the immediately preceding interest
payment date until the date or dates on which they are to be retired), any...
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11-47-221
Section 11-47-221 Bonds of an authority - Execution and delivery; form and denominations;
rate of interest; redemption; issuance and sale. Bonds of an authority may be executed and
delivered by it at any time, shall be in the form and denominations and of the tenor and maturity
or maturities not exceeding 30 years from their date, shall bear the rate or rates of interest,
which may be fixed or which may float or vary based on some index or other standard deemed
appropriate by the board or pursuant to periodic determinations made by an agent of the authority,
shall be payable and evidenced in the manner, may contain provisions for redemption prior
to maturity, and may contain other provisions not inconsistent with the provisions of this
article, all as may be provided by the resolution of the board authorizing the bonds or by
the indenture whereunder the bonds are authorized to be issued. A bond of any authority having
a specified maturity date more than 10 years after its date shall be...
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11-57-11
Section 11-57-11 Bonds - Authority for issuance; security for payment of principal and
interest generally; form, terms, denominations, etc.; sale, redemption, etc. The authority
is empowered at any time and from time to time to sell and issue its revenue bonds for the
purpose of providing funds to acquire, construct, improve, enlarge, complete and equip one
or more projects and for payment of obligations incurred for any such purpose. The principal
of and interest on any such bonds shall be payable solely out of the revenues derived from
the project with respect to which such bonds were issued. Any bonds of the authority may be
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 other
provisions not inconsistent with this chapter as may be provided by the...
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2-5A-35
Section 2-5A-35 Refunding bonds. (a) Any bonds issued by the Department of Agriculture
and Industries pursuant to this article may from time to time thereafter be refunded by the
issuance of refunding bonds of the Department of Agriculture and Industries; provided, however,
that no refunding bonds shall be issued unless the present value of all debt service on the
refunding bonds, computed with a discount rate equal to the true interest rate of the refunding
bonds and taking into account all underwriting discount and issuance expenses, shall not be
greater than 97 percent of the present value of all debt service on the bonds to be refunded,
computed using the same discount rate and taking into account the underwriting discount and
other issuance expenses originally applicable to such bonds, determined as if such bonds to
be refunded were paid and retired in accordance with the schedule of maturities, considering
mandatory redemption as a scheduled maturity, provided at the time of...
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11-57-17
Section 11-57-17 Refunding bonds. The authority may at any time and from time to time
sell and issue its refunding revenue bonds for the purpose of refunding the principal of and
interest on any matured or unmatured bonds of the authority at the time outstanding and for
the payment of any expenses incurred in connection with such refunding and any premium necessary
to be paid to redeem or retire the bonds so to be refunded. Any such refunding may be effected
either by sale of refunding bonds and the application of the proceeds thereof to payment,
redemption or retirement of the bonds to be refunded thereby, by exchange of the refunding
bonds for the bonds or interest coupons to be refunded thereby or by any combination thereof;
provided, that the holders of any bonds or coupons so to be refunded shall not be compelled
without their consent to surrender their bonds or coupons for payment or exchange prior to
the date on which they may be paid or redeemed by the authority under their...
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