|
11-50-411
Section 11-50-411 Disposition of net profits of district; "net income" defined; distribution
of less than net income for fiscal year; availability for payment in future fiscal years.
All the net income of the gas transmission system or systems, for each fiscal year, of a gas
district incorporated under this article shall, unless otherwise provided in the certificate
of incorporation of such district, be divided, within a reasonable time after the close of
each fiscal year, among its member municipalities in proportion to the amount of gas sold
to or within each such municipality. All the net income of each gas distribution system, for
each fiscal year, of any such district shall, unless otherwise provided in its certificate
of incorporation, be distributed and paid, within a reasonable time after the close of each
fiscal year, to the municipality or municipalities within which such distribution system is
located. The term "net income" as used in the preceding two paragraphs of this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-411.htm - 5K - Match Info - Similar pages
11-59-8
Section 11-59-8 Powers of corporations generally. The corporation shall have the following
powers together with all powers incidental thereto or necessary for the performance of those
hereinafter stated: (1) To have succession by its corporate name for the period specified
in the certificate of incorporation unless sooner dissolved as provided in this chapter; (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 pleasure; (4) To acquire, whether by condemnation, purchase, exchange, gift, lease,
devise or otherwise, and to construct, enlarge, improve, maintain, equip, and furnish one
or more facilities, including all real and personal properties which the board of directors
of the corporation may deem necessary or convenient in connection therewith and regardless
of whether or not any such facilities shall then be in existence and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-59-8.htm - 3K - Match Info - Similar pages
11-81-16
Section 11-81-16 Pledge of revenues from certain taxes, utilities, etc., for payment of principal
and interest on bonds. In any case in which a county or municipality may hereafter issue any
bonds which are general obligations of such county or municipality, there may be pledged to
the payment of the principal of an interest on such bonds all or any part or portion of funds
which may be derived from any one or more of the following sources and which shall not be
required for the purpose of making good any valid pledge thereof theretofore made or which
are not required by the Constitution to be devoted to other purposes and which such county
or municipality may at any time be authorized to levy, collect or receive: (1) The proceeds
of any property tax; (2) The proceeds of any license, privilege or occupational tax, excepting
such license taxes as may be levied by municipalities for conducting business outside their
corporate limits; (3) The portion of any license, privilege or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-16.htm - 3K - Match Info - Similar pages
23-1-157
Section 23-1-157 Bonds - Generally. (a) The bonds of the corporation shall be signed by its
president or vice president and attested by its secretary; provided, that a facsimile of the
signature of the officers may be imprinted or otherwise reproduced on any such bonds in lieu
of his or her signing the same. The seal of the corporation shall be affixed to such bonds;
provided, that a facsimile of the seal may be imprinted or otherwise reproduced on any such
bonds in lieu of being manually affixed thereon. (b) Any bonds of the corporation may be executed
and delivered 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 article, all as may be provided by the resolution of
the board of directors whereunder such bonds are authorized to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-157.htm - 6K - Match Info - Similar pages
4-3-2
Section 4-3-2 Procedure for incorporation. Pursuant to the provisions of this article, airport
authorities may be organized as public corporations with the powers herein set forth. To organize
such a corporation, not less than three natural persons shall file with the governing body
of any one or more counties, cities or towns within this state an application in writing for
permission to incorporate a public corporation under the provisions of this article and shall
attach to such application a proposed form of certificate of incorporation for such corporation.
If each governing body with which the application is filed shall adopt a resolution (which
need not be published or posted) approving the form of such certificate of incorporation and
authorizing the formation of such a public corporation, then said applicants shall become
the incorporators of and shall proceed to incorporate the authority as a public corporation
in the manner hereinafter provided, using for that purpose the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-3-2.htm - 1K - Match Info - Similar pages
5-5A-28
Section 5-5A-28 Pledge of assets. No bank may pledge assets as security for deposits, except
any bank is authorized to pledge acceptable assets as security for deposits of trust funds
deposited by its trust department and of public funds, heretofore or hereafter deposited,
by the United States or any agency or governmental instrumentality of the United States or
by a state or any political subdivision of a state or any agency or other governmental instrumentality
of such subdivision, including any county, municipal corporation, county, city, or other public
board of education, including any custodian or treasurer of county, city, or other public
school funds, any improvement authority heretofore or hereafter incorporated or any public
corporation, including each board, authority, or district heretofore or hereafter organized
or created in a state pursuant to authorization or determination by any municipality or municipalities
or by any county or counties or the governing body of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-28.htm - 1K - Match Info - Similar pages
9-8-31
Section 9-8-31 Discontinuance. (a) At any time after three years after the organization of
a district under the provisions of this article, any 25 owners of land lying within the boundaries
of such district may file a petition with the State Soil and Water Conservation Committee
praying that the operations of the district be terminated and the existence of the district
discontinued. The committee may conduct such public meetings and public hearings upon such
petition as may be necessary to assist it in consideration thereof. Within 60 days after such
a petition has been received by the committee, it shall give due notice of the holding of
a referendum and shall supervise such referendum and issue appropriate regulations governing
the conduct thereof, the question to be submitted by ballots upon which the words "For
terminating the existence of the _____ (name of the soil conservation district to be here
inserted)" and "Against terminating the existence of the _____ (name of the soil...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-8-31.htm - 6K - Match Info - Similar pages
10A-2-2.02
Section 10A-2-2.02 Supplemental provisions required or permitted in articles of incorporation.
REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT
IN THE CURRENT CODE SUPPLEMENT. (a) In addition to the information required to be set forth
in a certificate of formation by Section 10A-1-3.05, articles of incorporation of a corporation
formed under this chapter must set forth: (1) The number of shares the corporation is authorized
to issue; (2) The names and addresses of the individuals who are to serve as the initial directors;
and (3) The purpose or purposes for which the corporation is organized, which may be stated
to be or to include the transaction of any lawful business for which corporations may be incorporated
under this chapter. (b) The articles of incorporation may set forth: (1) Provisions not inconsistent
with law regarding: (i) Reservation to the shareholders of the right to adopt the initial
bylaws of the corporation; (ii) Managing the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-2.02.htm - 2K - Match Info - Similar pages
11-47-210.1
Section 11-47-210.1 Legislative findings and declarations. The Legislature finds and declares
all of the following: (1) Through this article, the Legislature has (i) granted to each municipality
in the state, acting either individually or in cooperation with one or more other municipalities,
the power to acquire, operate, manage, and control parks, playgrounds, and other recreational
or athletic facilities and to authorize the organization of an authority, as a public corporation,
to act on behalf of the municipality or municipalities in providing for the ownership and
management of parks, playgrounds, and other recreational or athletic facilities, (ii) provided
for the organization of the authorities, and (iii) specified certain powers to be enjoyed
by such an authority. (2) In order to facilitate the accomplishment of the legislative objectives
reflected in this article and to provide for a greater degree of mutual cooperation among
separate political subdivisions, it is necessary,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-210.1.htm - 3K - Match Info - Similar pages
11-49A-9
Section 11-49A-9 Rates for public transportation service. Rates, fees, and charges for public
transportation service rendered by the authority from any of its transit systems shall be
fixed and from time to time revised as at all times to provide funds that, when added to all
other revenues (including tax proceeds) anticipated to be received by the authority, will
be at least sufficient: (1) To pay the cost of operating, maintaining, repairing, replacing,
extending, and improving systems from which such services are rendered; (2) To pay the principal
of and the interest on all bonds issued and obligations assumed by the authority, that are
payable out of the revenues derived from operation of those systems, as the said principal
and interest become due and payable; (3) To create and maintain such reserve for the foregoing
purposes or any of them as may be provided in any mortgage and deed of trust or trust indenture
executed by the authority hereunder or in any resolutions of the board...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49A-9.htm - 1K - Match Info - Similar pages
|