|
11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest;
sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds;
mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to
the provisions of this chapter shall be signed by the chairman of the board of directors or
other governing body or other chief executive officer of such public corporation and attested
by its secretary and the seal of such public corporation shall be affixed thereto; provided,
that a facsimile of the signatures of both of the officers whose signatures will appear on
the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed
if the proceedings in which the bonds are authorized to be issued provide for the manual authentication
of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile
of the seal of such public corporation may be imprinted or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-2.htm - 6K - Match Info - Similar pages
11-47-222
Section 11-47-222 Bonds of an authority - Sale and issuance of refunding bonds; maturity; limitation
on principal amount; use of proceeds; effectuation of refunding by sale or exchange of bonds.
(a) An authority may at any time and from time to time sell and issue its refunding bonds
for the purpose of refunding the principal of and interest on any then outstanding bonds of
the authority, whether or not the bonds shall have matured or be redeemable at the option
of the authority at the time of the refunding, and for the payment of any expenses incurred
in connection with the refunding and any premium or other sum necessary to be paid to redeem
or retire the bonds to be refunded. No refunding bonds shall be issued unless the present
value of all debt service on the refunding bonds (computed with a discount rate equal to the
true interest rate of the refunding bonds and taking into account all underwriting discount
and other issuance expenses) shall not be greater than 95 percent of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-222.htm - 5K - Match Info - Similar pages
11-50-345
Section 11-50-345 Issuance of revenue bonds authorized; form, terms, denominations, etc.; execution,
sale, etc.; disposition of proceeds from sale of bonds; issuance of interim receipts or temporary
bonds. (a) Any board of water and sewer commissioners created under the provisions of this
article is hereby authorized by resolution, at one time or from time to time, to issue revenue
bonds of the board for the purpose of paying all or any part of the cost of any water system
or sewer system or any combination thereof and the cost of any improvements, extensions, and
additions and for the purpose of refunding any bonds or obligations assumed by the board in
connection with the acquisition of such system or systems or part thereof. The principal of
and the interest on such bonds shall be payable solely from the funds provided by this article
for such payment. The bonds of each issue shall be dated, shall bear interest at such rate
or rates not exceeding 10 percent per annum, shall mature...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-345.htm - 4K - Match Info - Similar pages
11-81-13
Section 11-81-13 Disposition of proceeds from sale. The principal proceeds received in the
sale of any bonds hereafter issued under the authority of this chapter shall be used for the
purposes for which the bonds are issued; provided, however, that if for any reason any part
of such proceeds shall not be necessary for such purposes then such unexpended part of such
proceeds shall be applied to the payment of the principal of or interest on said bonds. All
accrued interest and premium received in any such sale shall be applied to the payment of
interest or principal on the bonds sold. (Acts 1927, No. 478, p. 534; Code 1940, T. 37, §261;
Acts 1945, No. 394, p. 612.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-13.htm - 980 bytes - Match Info - Similar pages
41-10-28
Section 41-10-28 Execution of bonds and interest coupons; form, terms, denominations, etc.,
of bonds; sale; refunding bonds; liability upon bonds; pledges of certain funds as security
for payment of principal and interest on bonds generally; bonds to be deemed negotiable instruments;
bonds and income therefrom exempt from taxation; use of bonds as security for deposits of
funds of state, etc.; investment of certain state funds and private trust funds in bonds;
public hearing or consent of Department of Finance, etc., not a prerequisite to issuance of
bonds. The bonds of the authority shall be signed by its president and attested by its secretary,
and the seal of the authority shall be affixed thereto, and any interest coupons applicable
to such bonds shall be signed by the president; provided, that a facsimile of the signature
of one, but not both, of said officers may be printed or otherwise reproduced on any such
bonds in lieu of being manually subscribed thereon, a facsimile of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-28.htm - 7K - Match Info - Similar pages
22-3A-15
of Health, to contract directly with county board(s) of health, with respect to the use of
bond proceeds to provide public health facilities. (b) The improvement of a facility shall
be deemed to include the alteration, modification, renovation, modernization, remodeling,
and equipping thereof and the construction of additions thereto; and the construction of a
facility shall be deemed to include the acquisition of real estate sites and equipment therefor.
Equipment shall mean any item of personal property having a useful life estimated by
the authority to be at least 10 years. (c) The preparation of all plans and specifications
for any building, or capital improvements to a building, constructed wholly or in part with
any of the proceeds from the sale of the bonds and all work done hereunder in constructing
buildings and capital improvements thereto shall be supervised by the Division of Construction
Management within the Department of Finance, or any agency that may be designated...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-15.htm - 3K - Match Info - Similar pages
11-22-12
Section 11-22-12 Temporary borrowing. The corporation may, in addition to the other powers
granted in this chapter, borrow money for temporary use for any of its corporate purposes
and in evidence of such borrowing issue from time to time revenue bonds or notes maturing
not later than 18 months from date of issuance. Any such temporary borrowing may be made in
anticipation of the sale and issuance of long-term bonds, and in such event the principal
proceeds from the sale of such long-term bonds shall, to the extent necessary, be used for
payment of the principal of and the interest on the temporary bonds or notes issued in anticipation
of the sale and issuance of such long-term bonds. Any such temporary borrowing may also be
made with respect to a project simultaneously with or after the sale and issuance of long-term
bonds issued with respect to such project if, under the terms of the proceedings under which
such long-term bonds are issued, the proceeds therefrom or any part thereof...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-22-12.htm - 1K - Match Info - Similar pages
11-60-12
Section 11-60-12 Borrowing of money for temporary use and issuance of temporary revenue bonds
as evidence thereof. (a) The corporation may, in addition to the other powers granted in this
chapter, borrow money for temporary use for any of its corporate purposes and in evidence
of such borrowing issue from time to time revenue bonds or notes maturing not later than 18
months from the date of issuance. (b) Any such temporary borrowing may be made in anticipation
of the sale and issuance of long-term bonds, and in such event the principal proceeds from
the sale of such long-term bonds shall, to the extent necessary, be used for payment of the
principal of and the interest on the temporary bonds or notes issued in anticipation of the
sale and issuance of such long-term bonds. (c) Any such temporary borrowing may also be made
with respect to a project simultaneously with or after the sale and issuance of long-term
bonds issued with respect to such project if, under the terms of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-60-12.htm - 1K - Match Info - Similar pages
11-54-91
Section 11-54-91 Borrowing of money for temporary use and issuance of temporary revenue bonds
as evidence thereof. (a) Any industrial development board organized under the provisions of
this division, as amended, may, in addition to the other powers granted in the other provisions
of this division, borrow money for temporary use for any of its corporate purposes and, in
evidence of such borrowing, issue from time to time revenue bonds or notes maturing not later
than 18 months from the date of issuance. (b) Any such temporary borrowing may be made in
anticipation of the sale and issuance of long-term revenue bonds; and, in such event, the
principal proceeds from the sale of such long-term revenue bonds shall, to the extent necessary,
be used for payment of the principal of and the interest on the temporary revenue bonds or
notes issued in anticipation of the sale and issuance of such long-term revenue bonds. (c)
Any such temporary borrowing may also be made with respect to a project...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-91.htm - 2K - Match Info - Similar pages
11-89A-11
Section 11-89A-11 Proceeds from sale of bonds. All moneys derived from the sale of any bonds
issued by an authority shall be used solely for the purpose or purposes for which the same
are authorized; provided, however, that if for any reason any part of such proceeds shall
not be necessary for such purposes then such unexpended part of such proceeds shall be applied
to the payment of the principal of or interest on the said bonds. All accrued interest and
premium received in any such sale shall be applied to the payment of interest or principal
on the bonds sold. (Acts 1980, No. 80-278, p. 368, §12.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89A-11.htm - 916 bytes - Match Info - Similar pages
|