|
11-63-4
Section 11-63-4 Disposition of proceeds from municipal securities; limitation as to aggregate
principal amount of securities to be issued. (a) The proceeds of any securities issued by
a municipality for the purpose referred to in clause (3) of subsection (a) of Section 11-63-2
may be applied for payment of principal, interest, and redemption premium with respect to
the corporation securities to be paid from such proceeds and the expenses of issuing such
municipal securities. (b) The aggregate principal amount of any such municipal securities
may not exceed the total of (1) the then outstanding principal amount of the corporation securities
for payment of which such municipal securities are to be issued, (2) the interest accrued
or to accrue to the respective maturities of such corporation securities or, in the case of
any of the corporation securities to be called for redemption, whether on the earliest date
on which under their terms they may be redeemed or on some later date or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-63-4.htm - 1K - Match Info - Similar pages
2-6-85
Section 2-6-85 Exemption of securities from taxation. All securities issued by the corporation
and any redemption premium and any interest thereon, the properties of the corporation and
any income realized from rents or leases obtained from operation of any market facility constructed
under the provision of this article, or any income realized from rents or leases from any
source or business under the control of the Agricultural Center Board, and all instruments
which may be filed for record pertaining to the pledge and lien authorized by this article
to be created, shall be exempt from all taxation in the state. (Acts 1984, No. 84-252, p.
405, ยง16.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-85.htm - 963 bytes - Match Info - Similar pages
11-9-22
Section 11-9-22 Authority for issuance; form, terms, denominations, etc.; sale and disposition
of proceeds; pledge for payment of principal and interest generally. Each county shall have
the power from time to time to sell and issue interest-bearing warrants of such county for
the purpose of paying costs to that county of acquiring and providing one or more waterworks
systems for the purpose of rendering water service in any part of the county; provided, that
the county shall not render water service within any municipality except pursuant to franchise
granted to the county by such municipality. Any warrants issued under the provisions of this
article may be in such denomination or denominations, may have such maturity or maturities
not exceeding 30 years from their date, may bear interest from their date at such rate or
rates payable at such times, may be payable at such place or places within or without the
state, may be sold at such time or times and in such manner, whether publicly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-9-22.htm - 2K - Match Info - Similar pages
22-21-184
Section 22-21-184 Refunding securities. (a) The corporation may, at any time and from time
to time, issue refunding securities for the purpose of refunding any securities of the corporation
theretofore issued under Section 22-21-182 and then outstanding, whether or not such securities
shall have matured or are redeemable at the option of the corporation at the time of such
refunding; provided, however, that the maximum principal of securities that the corporation
may at any time issue for refunding purposes shall not exceed the sum of: (1) The outstanding
principal or face amount of the securities being refunded; (2) The unpaid interest accrued
thereon to the date that such refunding securities are issued; (3) Any redemption premium
necessary to be paid in order to redeem the securities to be refunded; and (4) The expenses
estimated to be incurred in connection with such refunding. (b) The principal proceeds derived
by the corporation from the sale of any refunding securities shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-184.htm - 3K - Match Info - Similar pages
45-29-90.13
Section 45-29-90.13 Execution of bonds; pledge of revenues, receipts, and other security. All
bonds issued by the authority shall be signed by the chair of its board of directors and attested
by its secretary-treasurer, and the seal of the authority shall be affixed thereto, and any
interest coupons applicable to the bonds of the authority shall be signed by the chair; provided,
that a facsimile of the signature of one, but not both, of the officers may be printed or
otherwise reproduced on any such bonds in lieu of his or her manually signing the same, a
facsimile of the seal of the authority may be printed or otherwise reproduced on any such
bonds in lieu of being manually affixed thereto, and a facsimile of the signature of the chair
of its board of directors may be printed or otherwise reproduced on any such interest coupons
in lieu of his or her manually signing the same. Any such bonds may be executed and delivered
by the authority at any time, and from time to time, shall be in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-90.13.htm - 4K - Match Info - Similar pages
11-11B-2
Section 11-11B-2 Power and authority of grantees. Each grantee shall have the power, and, when
approved by its governing body, the authority, to do or perform any one or more of the following:
(1) To apply to any donor for a grant and to pay the expenses involved in making such application;
(2) To accept and receive grants from any donor; (3) To expend or apply the proceeds of any
grant for the purpose or purposes for which the same is made; (4) To agree to comply with
the conditions of the grant; (5) To pay over or donate or loan to any board, bureau, authority,
institution or agency of the grantee, or to any municipality or municipalities of the state,
or to any public corporation, or to any county or counties in the state or to the state, or
to any board, bureau, authority, institution, or agency of such public corporation, or of
such county or counties or of such municipality or municipalities, or of the state or to any
person, firm or corporation, any grant proceeds authorized or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-11B-2.htm - 1K - Match Info - Similar pages
11-58-7
Section 11-58-7 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, etc.;
dissolution of corporation. (a) All bonds issued by a corporation organized under authority
of this chapter shall be solely and exclusively obligations of the corporation and shall not
create an obligation or debt of any municipality or county. No county or municipality shall
pledge its faith or credit for the payment of any debt incurred or bonds issued by the corporation.
(b) Bonds may be executed and delivered at any time and from time to time, may be in the form
and denominations, may be of the tenor, may be in registered or bearer form, either as to
principal or interest or both, may be payable in installments and at a time or times, not
exceeding 40 years from their issuance date, may be payable at a place or places, may bear
interest at a rate or rates payable at a place or places and evidenced in a manner, and may
contain provisions not inconsistent with this chapter as may be provided by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-58-7.htm - 3K - Match Info - Similar pages
11-58-9
Section 11-58-9 Bonds - Disposition of proceeds from sale. (a) The proceeds from the sale of
any bonds issued by a corporation organized under authority of this chapter shall be applied
only for the purpose for which the bonds were issued; provided, however, that any accrued
interest and premium received in any such sale shall be applied to the payment of the principal
of or the interest on the bonds sold; provided further, that if for any reason any portion
of such proceeds shall not be needed for the purpose for which the bonds were issued, then
such unneeded portion of said proceeds shall be applied to the payment of the principal of
or the interest on said bonds. (b) The cost of acquiring any medical clinic, which shall be
paid from the proceeds derived from the sale of bonds, shall be deemed to include the following:
(1) The actual cost of the construction of any part of a building which may be constructed,
including architect's and engineer's fees; (2) The purchase price of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-58-9.htm - 1K - Match Info - Similar pages
11-59-14
Section 11-59-14 Authority and procedure for dissolution of corporations; vesting of title
to facilities thereof in municipalities upon dissolution. When the principal of and interest
on all bonds issued by the corporation shall have been paid, the title to all facilities then
owned by the corporation shall thereupon vest in the municipality with respect to which the
corporation shall have been organized, and all rights and powers of the corporation with respect
to said facilities shall thereupon terminate and the corporation shall thereupon stand dissolved.
The then members of the board of directors of the corporation shall thereupon execute and
file for record in the office of the judge of probate of the county in which the certificate
of incorporation of the corporation was filed an appropriate certificate reciting the payment
of the principal of and interest on the bonds of the corporation, which certificate shall
also describe the facilities owned by the corporation at the time of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-59-14.htm - 2K - Match Info - Similar pages
11-101A-15
Section 11-101A-15 Use of proceeds. (a) The principal proceeds derived from any borrowing made
by an authority shall be used solely for the purpose or purposes for which the borrowing was
authorized to be made. If any securities are issued for the purpose of financing costs of
acquiring, constructing, improving, enlarging, and equipping a project, those costs shall
be deemed to include the following: (1) The cost of any land forming a part of the project.
(2) The cost of the labor, materials, and supplies used in any construction, improvement,
or enlargement, including architectural and engineering fees and the cost of preparing contract
documents advertising for bids. (3) The purchase price of, and the cost of installing, equipment
for the project. (4) The cost of landscaping the lands forming a part of the project and of
constructing and installing roads, sidewalks, curbs, gutters, utilities, and parking facilities
in connection therewith. (5) Legal, accounting, publishing, printing,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-15.htm - 4K - Match Info - Similar pages
|