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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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41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations.
The authority is authorized and empowered to issue its project obligations from time to time
for the purpose of financing one or more projects in such aggregate principal amount as the
board of directors shall determine to be necessary to provide for all or a portion of the
project costs of the project or projects being financed and to pay the expenses of issuing
the project obligations. (b) Source of payment. All project obligations issued by the authority
shall be limited obligations of the authority payable solely from any combination of the following:
(1) The revenues and receipts of the authority derived from the financing agreement or agreements
entered into by the authority with respect to the project or projects financed by such project
obligations; (2) the income or proceeds realized by the authority under any mortgage or other
security granted to the authority; (3) amounts derived from any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.6.htm - 7K - Match Info - Similar pages
11-94-12
Section 11-94-12 Bonds of authority - Indenture; lien; remedies of bondholders. In the
discretion of its board, any bonds issued by an authority may be secured by an indenture between
an authority and a trustee, which may be any trust company or bank having trust powers, whether
such bank or trust company is located within or without the state. In any such indenture or
resolution providing for the issuance of bonds an authority may pledge, for payment of the
principal of and the interest on such bonds, any of its revenues to which its right then exists
or may thereafter come into existence and may assign, as security for such payment, any of
its leases, franchises, permits and contracts; and in any such indenture, an authority may
mortgage any of its properties, including any that may be thereafter acquired by it, and may
provide that in the event of a default in payment of the bonds secured thereby or in the event
of default with respect to any agreement contained therein, such...
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11-92A-15
Section 11-92A-15 Security for bonds. (a) In the discretion of the board of directors
of an authority, any bonds may be secured by an indenture between an authority and a trustee,
which may be any trust company or bank having trust powers, whether such trust company or
bank is located within or without the state. In any such indenture or resolution providing
for the issuance of bonds an authority may pledge, for payment of the principal of and the
interest on such bonds, any of its revenues to which its right then exists or may thereafter
come into existence, including, but not limited to, revenues or other money or property pledged
to it by any public or private person, and may assign, as security for such payment, any of
its leases, loan agreements, franchises, permits, and contracts. In any such indenture, an
authority may mortgage any of its properties, including any that may be thereafter acquired
by it, and may provide that in the event of a default in payment of the bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-15.htm - 4K - Match Info - Similar pages
16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding
bonds; security. The authority shall have power and is hereby authorized from time to time
to provide by resolution for the issuance of negotiable revenue bonds for the purpose of paying
all or any part of the cost as herein defined of any of its projects. Such bonds may also
be issued to pay off, refund or refinance any outstanding bonds or other obligation of any
nature owed by the authority, whether or not such revenue bonds or other obligations shall
then be subject to redemption, and the authority may provide for such arrangements as it may
determine for the payment and security of the revenue bonds being issued or for the payment
and security of the revenue bonds or other obligations to be paid off, refunded or refinanced.
The principal, premium, if any, and interest of such revenue bonds shall be payable solely
from the revenues, receipts and earnings to be received by the authority in...
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23-2-147
Section 23-2-147 Bonds; issuance; forms; procedures, etc. (a) The authority is hereby
authorized to provide by resolution for the issuance of bonds of the authority for any of
its corporate purposes, including the refunding of its bonds. The principal of and the interest
on any issue of such bonds shall be payable solely from, and be secured by a pledge of, tolls
and other revenues of all or any part of the toll road, bridge, or tunnel project financed
in whole or in part with the proceeds of such issue or with the proceeds of bonds refunded
or to be refunded by such issue. The proceeds of any such bonds may be used or pledged for
the payment or security of the principal or of the interest on bonds, and for the establishment
of any or all reserves for such payment or security, or for other corporate purposes as the
authority may authorize in the resolution authorizing the issuance of bonds or in the trust
agreement securing the same. (b) The bonds of each issue shall be dated; shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-147.htm - 5K - Match Info - Similar pages
11-92B-12
Section 11-92B-12 Bonds of the authority. (a) Bonds of an authority shall be signed
by the chair or vice chair and attested to by the secretary or assistant secretary. The seal
of an authority shall be affixed thereto. A facsimile of the signature of the officers may
be printed or otherwise reproduced on any such bonds in lieu of being manually subscribed
thereon, and a facsimile of the seal of an authority may be printed or otherwise produced
on any such bonds in lieu of being manually affixed thereto, provided that the bonds have
been manually authenticated by a transfer agent of the bonds issued. Delivery of the bonds
so executed shall be valid notwithstanding any subsequent changes in officers or in the seal
of an authority. (b) Bonds may be executed and delivered by an authority at any time. The
bonds shall be in such form and denominations and of such tenor and maturities, shall bear
such rate or rates of interest or no interest, shall be payable at such times, and shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92B-12.htm - 4K - Match Info - Similar pages
9-10-36
Section 9-10-36 Issuance of bonds; issuance of notes and renewal notes; redemption of
notes or bonds; liability on notes or bonds; disposition of proceeds from sale of bonds; issuance
of interim receipts, etc. (a) Any such corporation is hereby authorized to provide by resolution
for the issuance of bonds of the corporation for any of its corporate purposes, including
the refunding of its bonds. The principal of and the interest on any issue of such bonds shall
be payable solely from, and may be secured by a pledge of, tolls, rentals, sales receipts
and other revenues of all or any part of the project or projects financed in whole or in part
with the proceeds of such bond issue or with the proceeds of bonds refunded or to be refunded
by such issue. The proceeds of any such bonds may be used or pledged for the payment or security
of the principal or of the interest on bonds and for the establishment of any or all reserves
for such payment or security or for other corporate purposes as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-36.htm - 5K - Match Info - Similar pages
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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41-10-547
Section 41-10-547 Bonds of the authority. (a) The authority is authorized from time
to time to sell and issue its bonds for the purpose of financing project costs pertaining
to one or more projects or for the purpose of providing funds to pay training facility management
fees, or any combination of the foregoing including, without limitation, in the case of authority
obligations issued for the purpose of providing funds to pay training facility management
fees, costs, expenses, and other items of the type described in paragraphs g., h., i., and
j. of the definition of project costs in Section 41-10-541 or to enter into guaranty
agreements wherein the authority guarantees payment, in whole or in part, of debt service
referable to obligations issued by development agencies for the purpose of financing project
costs pertaining to one or more projects; provided, however, that the principal amount of
authority obligations shall not exceed three hundred million dollars ($300,000,000). For...
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