45-8A-111.09
Section 45-8A-111.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. The principal of and interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance, and insurance of...
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45-8A-20.09
Section 45-8A-20.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. The principal of and interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance, and insurance of...
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16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized and empowered
to issue its bonds from time to time for the purpose of making equipment loans to finance
equipment costs incurred or to be incurred by educational institutions. Such bonds may be
in such aggregate principal amount as the board of directors shall determine to be necessary
to pay the equipment costs included in such financing. The authority may pay from the proceeds
of the sale of its bonds all expenses, including publication and printing charges, attorneys'
fees, financial advisory fees, and other expenses which the board of directors may deem necessary
or advantageous in connection with the authorization, advertisement, sale, execution, and
issuance of its bonds or the making of equipment loans from the proceeds thereof. (b) Source
of payment. All bonds issued by the authority shall be limited obligations of the authority
payable solely from any combination of the following: (1) The...
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33-2-186
Section 33-2-186 Docks facilities revenue bonds and refunding bonds - Nature of; pledge; negotiable
instruments. The docks facilities revenue bonds and refunding bonds shall not be general obligations
of the department but shall be payable solely out of docks facilities revenues. As security
for the payment of the principal of, premium, if any, and interest on the docks facilities
revenue bonds and refunding bonds issued by it under this article, the department is hereby
authorized and empowered to pledge for payment of the said principal, premium, if any, and
interest all or any part of the docks facilities revenues. All contracts made and all docks
facilities revenue bonds and refunding bonds issued by the department pursuant to the provisions
of this article shall be solely and exclusively obligations of the department and shall not
be an obligation or debt of the state. The docks facilities revenue bonds and refunding bonds,
except while registered, shall be construed to be...
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24-1A-6
Section 24-1A-6 Bonds. (a) General. The authority may from time to time issue its negotiable
bonds in such principal amounts as, in the opinion of the authority, shall be necessary to
provide sufficient funds for achieving the corporate purposes thereof, the payment of interest
on bonds of the authority, establishment of reserves to secure such bonds and all other expenditures
of the authority incident to, and necessary or convenient to, carrying out its corporate purposes
and powers. (b) Sources of Payment. Bonds issued by the authority shall be payable solely
out of revenues or property of the authority specified in the resolutions authorizing the
issuance of such bonds. To the extent permitted by any contracts with the holders of outstanding
bonds and any other contractual obligations or requirements, the authority may pledge any,
or all, of its revenues or mortgages or assign any, or all, of its assets (whether real or
personal and whether tangible or intangible) to secure the...
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41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic
development and industrial recruitment as specified by the Legislature from time to time by
separate act, provided that refunding bonds may be issued by the authority pursuant to Section
41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources
of payment. Bonds issued by the authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state. Such bonds shall not
be general obligations of the authority but shall be payable solely from one or more of the
following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority
under any mortgage or security granted to the authority. (3) Amounts derived from any letter
of credit, insurance policy, or other form of credit enhancement...
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41-10-755
Section 41-10-755 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds for the purpose of providing funds to be transferred to
and deposited in the Alabama Trust Fund and the Rainy Day Account, to provide additional funds
to the Alabama Medicaid Agency, for paying the costs of transportation projects, and for the
purpose of refunding any or all of the authority's outstanding bonds. (b) Sources of payment.
Bonds issued by the authority shall be solely and exclusively an obligation of the authority
and shall not create an obligation or debt of the state. Such bonds shall not be general obligations
of the authority but shall be payable solely from one or more of the following sources: (1)
Appropriated funds. (2) The income or proceeds realized by the authority under any mortgage
or security granted to the authority. (3) Amounts derived from any letter of credit, insurance
policy, or other form of credit enhancement applicable to...
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11-20-5
Section 11-20-5 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; applicability of usury, etc., laws. All bonds issued by a county under authority of
this article shall be limited obligations of the county, the principal of and interest on
which shall be payable solely out of the revenues derived from the leasing of the project
to finance which the bonds are issued. Bonds and interest coupons issued under authority of
this article shall never constitute an indebtedness of the county within the meaning of any
state constitutional provision or statutory limitation and shall never constitute nor give
rise to a pecuniary liability of the county or a charge against its general credit or taxing
powers, and such fact shall be plainly stated on the face of each such bond. Such bonds may
be executed and delivered at any time and from time to time, may be in such form and denominations,
may be of such tenor, may be in registered or bearer form either as to...
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41-10-45.2
Section 41-10-45.2 Fund created; project obligations. (a) There is created the Accelerate Alabama
Fund, which may consist of monies appropriated or otherwise made available by the Legislature
in any manner, proceeds of project obligations issued by the authority, and monies from any
other source designated for deposit into such fund, but not including monies subject to a
constitutional designation for some other purpose. Unexpended amounts remaining in the fund
at the end of each fiscal year of the state shall not lapse into the State General Fund. Any
investment earnings or interest earned on amounts in the fund and all loan payments of principal
and/or interest shall be deposited to the credit of the fund. (b) In addition to the purposes
for which the authority may issue project obligations, the authority is hereby authorized
to issue project obligations to provide money for the fund. Project obligations shall be issued
as provided in Section 41-10-44.6, subject, however, to the...
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11-92C-23
Section 11-92C-23 Loans, sales, grants, guarantees, and contractual or lease obligations of
money or property. (a) For the purpose of securing services of or the right to use or the
use by its citizens or customers of one or more projects of an authority, a cooperative district
of which the authority is a member, or any private user, or aiding or cooperating with the
authority, a cooperative district of which the authority is a member, or any private user
in the planning, development, undertaking, acquisition, construction, extension, improvement,
financing, operation, or protection of a project, any county, municipality, or other political
subdivision, public corporation, agency, or instrumentality of this state, upon such terms
and with or without consideration, as it determines, may do all of the following: (1) Lend
or donate money to, guarantee all or any part of the indebtedness or operating expense of,
or perform services for the benefit of, the authority, a cooperative district...
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