11-57-22
Section 11-57-22 Investment of funds of authorities. Any portion of the principal proceeds derived from the sale of the bonds which the board may determine is not presently needed for any of the purposes for which the bonds are authorized to be issued and any other moneys of the authority which the board may determine will not be presently needed by the authority may, on order of the board, be invested in any securities that are direct obligations of the United States of America or the principal of and interest on which are unconditionally and irrevocably guaranteed by the United States of America. Any securities in which any such investment is made may, at any time and from time to time on order of the board, be sold or otherwise converted into cash. The income derived from any such investments shall be disbursed on order of the board for any purpose for which the authority may lawfully expend funds. (Acts 1961, No. 895, p. 1407, §17; Acts 1961, Ex. Sess., No. 289, p. 2335, §17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-22.htm - 1K - Match Info - Similar pages
22-21-152
Section 22-21-152 Investment of funds. (a) Any portion of the principal proceeds derived from the sale of the bonds which the board may determine is not presently needed for any of the purposes for which the bonds are authorized to be issued, and any other moneys of the authority which the board may determine will not be presently needed by the authority may, on order of the board, be invested in: (1) Any securities that are direct general obligations of the United States of America or the principal of and interest on which are unconditionally and irrevocably guaranteed by the United States of America; (2) Any debt securities that are direct obligations of any agency of the United States of America; (3) Interest-bearing bank time deposits and interest-bearing bank certificates of deposit; and (4) Interest-bearing time deposits and interest-bearing certificates of deposit of any federally-chartered savings and loan association. (b) Any securities, time deposits or certificates of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-152.htm - 1K - Match Info - Similar pages
14-2-20
Section 14-2-20 Bonds - Investment of proceeds. Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the authority may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall, on order of the authority, be invested by the State Treasurer in any securities which are direct and general obligations of the United States of America or the principal of and interest on which are unconditionally and irrevocably guaranteed by the United States of America. Any such securities may, at any time and from time to time on order of the authority, be sold or otherwise converted by the State Treasurer into cash. The income derived from any such investments shall be disbursed on order of the authority for any purpose for which it may lawfully expend funds. (Acts 1965, No. 678, p. 1226, §15.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/14-2-20.htm - 1K - Match Info - Similar pages
2-6-115
Section 2-6-115 Investment of proceeds. Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the corporation may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall be invested in permitted investments. Any such securities, at any time and from time to time on order of the corporation, may be sold or otherwise converted into cash. The income derived from any investments shall be disbursed on order of the corporation for any purpose for which the corporation may lawfully expend funds. (Act 2011-575, p. 1231, §17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-115.htm - 932 bytes - Match Info - Similar pages
41-10-317
Section 41-10-317 Investment of proceeds. Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the authority may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall, on order of the authority, be invested in such manner as the board of directors of the authority shall direct in any securities which are direct and general obligations of the United States of America or the principal of and interest on which are unconditionally and irrevocably guaranteed by the United States of America, or in certificates of deposit insured by an agency of the United States. Any such securities may, at anytime and from time to time on order of the authority, be sold or otherwise converted into cash. The income derived from any such investments shall be disbursed on order of the authority for any purpose for which it may lawfully expend funds. (Acts 1986, No. 86-546, p. 1093, §18.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-317.htm - 1K - Match Info - Similar pages
41-10-463
Section 41-10-463 Investment of proceeds from sale of bonds. Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the authority may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall, on order of the authority, be invested by the State Treasurer in permitted investments. Any such securities may, at any time and from time to time on order of the authority, be sold or otherwise converted by the State Treasurer into cash. The income derived from any such investments shall be disbursed on order of the authority for any purpose for which the authority may lawfully expend funds. (Acts 1990, No. 90-602, p. 1079, §14.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-463.htm - 1K - 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
33-17-13
Section 33-17-13 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 Tombigbee 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 and the flood control 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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-17-13.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-60.htm - 3K - Match Info - Similar pages
33-13-12
Section 33-13-12 Bonds - Disposition of proceeds; investments. The authority shall pay out of the proceeds from the sale of any of the bonds (other than refunding bonds) those expenses which the board of directors may deem necessary or advantageous in connection with the sale or issuance thereof. 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 treasury of the State Docks Department, shall be carried in a special fund therein and shall be subject to be drawn on by the State Docks Department, upon the approval of the authority, but solely for the respective purposes for which they were authorized to be issued, viz., payment of costs incurred in the development, construction, improvement, expansion and modernization (or any of them) of the state docks facilities at the Port of Mobile, as the state facilities may from time to time exist. The proceeds from the sale of any refunding...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-13-12.htm - 2K - Match Info - Similar pages
|