|
33-2-201
Section 33-2-201 Special purpose obligations. (a) The department, from time to time,
may issue special purpose obligations, which shall be limited obligations of the department
payable from and secured solely by a pledge of private facility payments made by or on behalf
of one or more commercial enterprises for the right to use the private facilities financed
thereby and shall not be payable from docks facilities revenues or otherwise give rise to
any liability on the part of the department other than the private facility payments pledged
as security therefor. No special purpose obligation shall give rise to any liability or constitute
a debt or obligation of the state or a charge against its credit or taxing powers. (b) Any
special purpose obligations shall be issued pursuant to a resolution of the board of directors
of the department. As security for the payment of any special purpose obligations, the department
is authorized to pledge for the payment of the obligations any private...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-201.htm - 5K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-547.htm - 9K - Match Info - Similar pages
16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature
finds that the number of students attending the several school systems located in those areas
of North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions
will collectively increase by an estimated 9,000 students. As a result, there will be a need
for the construction of additional school facilities as well as the renovation of existing
school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions
will have a positive impact on future receipts to the Education Trust Fund, as the significant
population growth in North Alabama will increase sales, income, and other tax collections.
Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital
improvement costs associated with BRAC-related school construction. (b) The Alabama Public
School and College Authority is hereby authorized to sell and issue its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16A-7.htm - 24K - Match Info - Similar pages
40-17-359
Section 40-17-359 Distribution and use of proceeds. (a) For the purpose of this section,
the following terms shall have the meanings ascribed below: (1) BASE ANNUAL COUNTY DISTRIBUTION.
Five hundred fifty thousand dollars ($550,000). (2) COST OF COLLECTION. The amounts from the
proceeds of the highway gasoline tax that may be appropriated by the Legislature to the department
for its operating expenses. (3) COUNTY. Each county in the state. (4) FISCAL YEAR. The fiscal
year of the state. (5) DEPARTMENT OF TRANSPORTATION. The Department of Transportation of the
state. (6) HIGHWAY GASOLINE TAX. Both of the following: a. The excise tax levied under subdivision
(1) of subsection (a) of Section 40-17-325, with the exception of those portions of
the tax levied on aviation fuel and marine gasoline. b. The excise tax levied by Sections
40-17-140 to 40-17-155, inclusive, except that portion of the tax imposed on diesel fuel.
(7) LOCAL SUBDIVISIONS' SHARES OF THE NET TAX PROCEEDS. The 55 percent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-359.htm - 28K - Match Info - Similar pages
45-37-170.26
Section 45-37-170.26 Powers of authority. The authority shall have the following powers
together with all powers incidental thereto or necessary for the performance of the powers
stated in this section: (1) To have succession by its corporate name without time limit.
(2) To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties. (3) To have and to use a corporate seal and to alter
the same at its pleasure. (4) To receive and expend funds from federal, state, county, municipal,
and private sources for the purposes hereof. (5) To dig channels, build dikes, dams, and lakes
or ponds to contain flood waters as deemed useful by it to improve flood control, and whenever
practical to build any and all facilities which can contribute to the use of such flood control
channels for navigation. (6) To contract with municipalities and counties for the financing
and joint construction and operation of such facilities. (7) To...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-170.26.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
11-62-7
Section 11-62-7 Powers of authority generally; operation of facilities by authority.
(a) Every authority shall have all of the powers necessary and convenient to carry out and
effectuate the purposes and provisions of this chapter, including, without limiting the generality
of the foregoing, the following powers: (1) To have succession in its corporate name for the
duration of time (which may be in perpetuity, subject to the provisions of Section
11-62-17) specified in its certificate of incorporation; (2) To sue and be sued in its own
name in civil suits and actions 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, alter, and repeal bylaws,
regulations, and rules, not inconsistent with the provisions of this chapter, for the regulation
and conduct of its affairs and business; (5) To acquire, whether by gift, purchase, transfer,
foreclosure, lease, or otherwise, and to expand, improve, maintain, equip, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-7.htm - 9K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-7.htm - 5K - 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
33-16-13
Section 33-16-13 Bonds - Disposition of proceeds; investments. The authority shall pay
out of the proceeds from the sale of any of the bonds all expenses which the board of directors
may deem necessary or advantageous in connection with the sale and issuance of the bonds.
The proceeds from the sale of all bonds, other than refunding bonds, remaining after paying
the expenses of their sale and issuance shall be turned in to the State Treasury, shall be
carried in a special fund to be designated the Coosa Valley Development Authority fund, and
shall be subject to be drawn on by the authority, upon approval by the Governor, but solely
for the purpose of discharging the duties and obligations undertaken by the authority in connection
with the waterway project. The proceeds from the sale of any refunding bonds remaining after
the expense of their issuance shall be used only for the purpose of refunding the principal
of outstanding bonds issued hereunder and of paying any premium that may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-16-13.htm - 2K - Match Info - Similar pages
|