23-1-178
Section 23-1-178 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than
refunding bonds, issued by the corporation remaining after paying the expenses of their issuance
shall be deposited in the State Treasury and credited to the Road and Bridge Fund, and shall
be subject to be drawn on by the corporation, upon the approval of the State Department of
Transportation, but solely for the purpose of constructing, reconstructing , or relocating
public roads and bridges, or work incidental or related thereto, including the acquisition
of property necessary therefor, in the State of Alabama; provided, that such funds may be
used only for payment of the state's share or the costs thereof to be paid by any county or
municipality within the state, of the cost of constructing, reconstructing, or relocating
public roads and bridges, or work incidental or related thereto, which have been or will be
constructed, reconstructed, or relocated under programs financed jointly by the...
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41-10-260
Section 41-10-260 Definitions. The following terms, wherever used in this article, shall have
the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY.
The public corporation organized pursuant to the provisions of this article. (2) BOARD OF
DIRECTORS. The board of directors of the authority. (3) BONDS. When used with reference to
debt instruments issued by the authority, means bonds, notes and other forms of indebtedness.
(4) BUILDING COMMISSION. The Building Commission created by Act No. 128 adopted at the 1945
Regular Session of the Legislature of the state, and any successor agency thereto. (5) CHIEF
JUSTICE. The Chief Justice of the Supreme Court of the State of Alabama. (6) GOVERNMENT SECURITIES.
Any bonds or other obligations which as to principal and interest constitute direct obligations
of, or are unconditionally guaranteed by, the United States of America, including obligations
of any federal agency to the extent such obligations are...
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2-3A-2
the products of aquaculture and silvaculture) or the treating, processing, storing, manufacturing,
marketing, distribution or exporting of agricultural commodities; provided, however, that
such term shall not include any operation the principal purpose of which is the selling at
retail of agricultural commodities or related products; provided, further, that costs of agricultural
operations shall specifically include, but not be limited to, costs of acquiring and improving
real and personal property, repairs, annual operating expenses, family living expenses
and refinancing of debt incurred for any such costs. (3) AUTHORITY. The public corporation
organized pursuant to the provisions of this article. (4) BOARD. The board of directors of
the authority. (5) BONDS. Bonds, notes, certificates, bond, grant or revenue anticipation
notes or any other evidence of indebtedness representing an obligation to pay money. (6) DIRECTOR.
A member of the board of the authority. (7) LENDER. Any...
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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall have the
following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND.
The trust fund of the state created under Amendment 450 to the Constitution of Alabama of
1901, and appearing as §219.02 of the Official Recompilation of the Constitution of Alabama
1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special
fund to the extent such revenues are appropriated to the authority pursuant to Section 41-10-759.
(3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established pursuant
to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued pursuant to
this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement of
economic damages claims of the state against BP Exploration and Production, Inc. and any of
its corporate affiliates arising out of the Deepwater Horizon oil spill...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
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45-46-90.06
45-46-90.18, specified in its certificate of incorporation. (2) To sue and be sued in its own
name in civil suits and actions, excepting actions in tort, and to defend suits 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. (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 authority was organized
or to exercise any power expressly granted hereunder. (7) To plan, establish, develop, acquire,
purchase, lease, construct, reconstruct, enlarge, improve, maintain, equip, operate, regulate,
and protect industrial and commercial facilities and port or dock...
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11-99A-49
Section 11-99A-49 Investments in bonds. Bonds issued under this chapter are legal and authorized
investments for banks, trust companies, savings and loan associations, savings banks, insurance
companies, fiduciaries, trustees, guardians, and any public person. Bonds issued under this
chapter may be security for deposits of public funds of any public person. (Act 99-446, p.
1013, §1.)...
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5-5A-23
Section 5-5A-23 Investments and loans with respect to housing. (a) Banks, insurance companies
and savings and loan associations are authorized: (1) To make such loans and advances of credit
and purchases of obligations representing loans and advances of credit as are eligible for
insurance and to obtain such insurance; and (2) To make such loans secured by real property
or leasehold as the Federal Housing Administrator insures or makes a commitment to insure
and to obtain such insurance. (b) It shall be lawful for banks, insurance companies or savings
and loan associations to purchase, invest in and dispose of bonds or notes secured by mortgages
issued by the Federal Housing Administrator and in securities issued by national mortgage
associations. (c) No law of this state requiring security upon which loans or investments
may be made, or prescribing or limiting interest rates upon loans or investments, or prescribing
or limiting the period for which loans or investments may be made...
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11-101A-17
Section 11-101A-17 Securities are legal investments. Securities issued under this chapter are
hereby made legal investments for savings banks and insurance companies organized under the
laws of the state. Unless otherwise directed by the court having jurisdiction thereof or 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 funds
in securities of an authority. The governing body of any authorizing subdivision, or any county
or municipality in which any project of an authority may be situated, may, in its discretion,
invest in securities of the authority any idle or surplus money held in its treasury which
is not otherwise earmarked or pledged. (Act 2001-642, p. 1317, §1.)...
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11-54-149
Section 11-54-149 Bonds made legal investments. Bonds issued under the provisions of this article
shall be legal investments for saving banks and insurance companies organized under the laws
of the state. (Acts 1979, No. 79-722, p. 1277, §10.)...
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