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2-5A-36
Section 2-5A-36 Establishment of debt service reserve fund. A debt service reserve fund may
be established and maintained in such an amount and under such conditions for any or all series
of the bonds as may be determined by the Board of Agriculture and Industries in its resolution
relating to the bonds. The Department of Agriculture and Industries may make payments from
bond proceeds or any other funds or revenues available to it into the debt service reserve
fund. Income earned from the investment of monies held in the debt service reserve fund may
be used by the Department of Agriculture and Industries for any purpose designated by the
Board of Agriculture and Industries that would constitute a permitted use of funds of the
Department of Agriculture and Industries under Act 98-243. Monies on deposit in the debt service
reserve fund shall be invested only in permitted investments and the department is authorized
to determine the conditions for the utilization of the debt service...
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11-58-6
Section 11-58-6 Requirements as to leasing of medical clinics or clinical facilities; disposition
of revenue from operation of clinic. (a) Prior to the leasing of the medical clinic or clinical
facilities, the board of directors must determine and find the following: (1) The amount necessary
in each year to pay the principal of and the interest on the bonds proposed to be issued to
finance such clinic (which term, as used in this section, shall also include any clinical
facilities covered by any such lease); (2) Unless the proceedings under which the proposed
bonds are to be issued provide that any debt service reserve fund which the board of directors
deems it advisable to establish in connection with the retirement of the proposed bonds is
to be entirely funded out of the proceeds from the sale of such bonds, the amount necessary
to be paid each year into any such reserve fund; (3) The amount necessary to be paid each
year into any reserve fund which the board of directors may deem...
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11-88-103
Section 11-88-103 Procedure where special fund used by authority in taking up bonds or coupons
representing principal at maturity. Where the authority has used any part of any other special
fund for the purpose of taking up at maturity bonds or coupons representing a portion of the
principal of bonds which had heretofore been issued for improvements and which had fallen
due, the provisions of Section 11-88-102 shall be construed to permit either the issuance
of refunding bonds to the authority's treasurer as custodian of such fund or the sale of such
bonds for the purpose of replacing in such fund all moneys of such fund so used. (Acts 1973,
No. 826, p. 1293, §63.)...
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33-13-10
Section 33-13-10 Bonds - State Docks Facilities Reserve Fund. There is hereby created a special
fund to be designated the State Docks Facilities Reserve Fund, which shall be held in and
constitute a part of the State Treasury and which shall be maintained until the principal
of and interest on the bonds (or any refunding bonds that may hereafter be issued to refund
any of the bonds) shall have been paid in full. As promptly as may be practicable following
each fiscal year of the state, commencing with the fiscal year ending September 30, 1976,
the state docks director shall determine the number of tons (each ton to be deemed to constitute
2,000 pounds) of general cargo that was handled by the State Docks Department during the said
fiscal year. Not later than 90 days after the end of each such fiscal year, the State Docks
Department shall pay into the said special fund whichever is the smaller of the following:
(1) An amount equal to $.03 for each ton (i.e., 2,000 pounds) of general...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-13-10.htm - 3K - Match Info - Similar pages
22-3A-8
Section 22-3A-8 Issuance of bonds. For the purposes of acquiring, constructing, installing
and equipping public health facilities, the authority is hereby authorized to issue and sell
from time to time its bonds, which bonds may be in the form of interest-bearing bonds or noninterest-bearing
bonds. Other than refunding bonds, the aggregate principal amount of bonds issued under this
chapter shall not exceed $45,000,000.00; provided, however, that, if the authority determines
that the total net amount of bond proceeds available to provide funds for paying the costs
of acquiring, constructing, improving, and equipping public health facilities (excluding underwriting
discount, other issuance expenses and 10 percent of the principal amount of such bonds to
be used to capitalize or fund a debt service reserve fund as authorized by Section 22-3A-16(b)),
plus the interest income, not exceeding $2,000,000.00, earned on such net amount of bond proceeds
pending expenditure thereof, will be less...
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2-6-110
Section 2-6-110 Bonds. The corporation is authorized to sell and issue its bonds, not exceeding
one hundred million dollars ($100,000,000), exclusive of refunding bonds, in aggregate principal
amount, and in any additional aggregate principal amounts as authorized by other acts of the
Legislature, for the purpose of providing funds for the project work and for payment of obligations
incurred for such purpose, as well as the payment of issuance expenses and the establishment
of a debt service reserve fund. (Act 2011-575, p. 1231, §12.)...
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2-6-116
Section 2-6-116 Disposition of bond proceeds. All proceeds derived from the sale of any bonds,
excluding refunding bonds, sold by the corporation remaining after payment of the expenses
of issuance thereof and the funding of any required reserve or replacement fund shall be deposited
into a special account to the credit of the corporation, and shall be subject to be drawn
on by the corporation solely for the purposes of paying the costs of the project work, and
all reasonable and necessary incidental expenses, including interest which shall accrue on
the bonds during the project work and for a period not exceeding two years thereafter. Any
balance of the proceeds remaining, upon completion of the project work and the payment of
all costs in connection therewith, shall be transferred to the debt service reserve fund account
of the corporation or used to redeem bonds issued by the corporation as may be determined
by the board of directors of the corporation. (Act 2011-575, p. 1231,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-116.htm - 1K - Match Info - Similar pages
41-10-753
Section 41-10-753 Members, officers, and directors. The applicants named in the application
and their respective successors in office shall constitute the members of the authority. The
president, vice president, and secretary of the authority shall be elected by the members
and shall serve for the terms and conditions as the members may establish. The State Treasurer
shall act as custodian of the authority's funds, and shall pay, out of appropriated funds
and any other monies and property available to the authority, all debt service related to
bonds of the authority and any other amounts required by this article to be paid out of the
BP Settlement Fund. The members of the authority shall constitute all of the directors of
the authority, and any four directors shall constitute a quorum for the transaction of business.
Should any person holding any state office named in this section cease to hold the office
by reason of death, resignation, expiration of the term of office, or for any...
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11-89B-5
Section 11-89B-5 Use of moneys derived from sale of bonds. All moneys derived from the sale
of any such bonds issued by such public corporation shall be used solely for the purpose or
purposes for which the same are authorized, including the funding of all or part of any reserve
funds which may be required for debt service, replacement and extension or capital improvements,
and any costs and expenses incidental thereto. Such costs and expenses may include but shall
not be limited to: (1) The fiscal, engineering, legal and other expenses incurred in connection
with the issuance of and security for the bonds, including, without limitation, the charges,
premiums or fees in connection with any debt service insurance or letter of credit or other
additional security given with respect to its bonds, whether such amounts are to be paid in
a lump sum or over a period of time; (2) Interest on bonds in the case of bonds issued to
pay costs of construction or, if a part only of any series of bonds...
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11-92A-16
Section 11-92A-16 Use of bonds, proceeds, etc. (a) The proceeds from the sale of any bonds
shall be applied as provided in the proceedings in which the bonds are authorized to be issued,
including without limitation, the payment of all legal, fiscal, and recording fees and expenses
incurred in connection with the authorization, sale, and issuance of the bonds and, if so
provided in the proceedings authorizing their issuance, interest on said bonds (or if only
a part of any issue of bonds is issued for acquisition purposes, interest on that portion
of the bonds of that issue that is issued to pay acquisition costs) for a reasonable period
prior to and during the time required for the acquisition, construction, and equipping of
the project. An authority may provide in the proceedings authorizing the issuance of bonds
for the funding of a debt service reserve and/or a replacement and extension reserve from
the proceeds of its bonds. (b) All contracts made by an authority and all bonds...
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