45-46-90.08
Section 45-46-90.08 Bonds of the authority. (a) All bonds issued by the authority shall be
signed by the chair of its board, or other chief executive officer, and attested by its secretary,
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 of its board, or other chief executive
officer; 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, or other chief executive officer, may be printed or otherwise reproduced
on any such interest coupons in lieu of his or her manually signing the same. (b) Any such
bonds may be executed and delivered by the authority at...
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11-1-17
Section 11-1-17 Warrants for borrowing purposes - Form of warrants, refunding warrants, coupons,
etc. (a) Warrants. The warrants issued under this title for borrowing purposes may be substantially
in the following form, which is declared to be sufficient: The State of Alabama, County of
___ $___ Warrant Number ___ The County of _____ acknowledges itself indebted and promises
to pay to ___, or order, on the ___ day of ___, 2__, for value received, the sum of ___ dollars,
with interest at the rate of ___ percent per annum at the proper depository of the county.
This warrant is issued pursuant to law and an order of the county commission of the said county,
who represent that all provisions of law have been complied with and that this warrant is
legal in all respects. In testimony whereof, we, the undersigned presiding officer and members
of the county commission of said county have hereunto set our hands and affixed the seal of
said county commission,...
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11-88-107
bond which may have been required of him by law, equal to not less than five percent of the
total amount in the said sinking funds provided for in Section 11-88-106 and the said bond
shall be increased and may be diminished from time to time in order to comply with this provision.
The cost of the said increased bond shall be paid by the authority. The said official shall
be liable on his official bond to any holder of the bonds authorized to be issued under this
article for any loss or injury to such holder caused by the diversion by the said officer
of any fund or part thereof to the payment of any indebtedness of the authority other than
the bonds and interest coupons issued under this article and indebtedness authorized by this
article to be paid out of the said fund or caused by the use or misappropriation by the said
officer of any part of the funds out of which the said bonds and coupons are to be paid for
any other purpose than as provided for in this article or for the...
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22-21-321
Section 22-21-321 Refunding securities. (a) An authority may at any time and from time to time
sell and issue its refunding securities for the purpose of refunding the principal of and
interest on any then outstanding securities of the authority, whether or not such securities
shall have matured or be redeemable at the option of the authority at the time of such refunding,
and for the payment of any expenses incurred in connection with such refunding and any premium
or other sum necessary to be paid to redeem or retire the securities so to be refunded; provided
however, that the principal amount of securities that the authority may at any time issue
for refunding purposes shall not exceed the sum of the following: (1) The outstanding principal
or face amount of the securities refunded thereby; (2) The unpaid interest accrued or to accrue
thereon to their respective maturities (or, in the event the securities to be refunded, or
any part thereof, are to be retired prior to their...
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11-62-8
any authority may enter into contracts with the holders of any of its bonds or notes preventing
such authority from thereafter issuing general obligation bonds or notes or limiting the amount
of such bonds or notes that may thereafter be issued. To the extent permitted by any contracts
with the holders of outstanding bonds and notes and any other contractual obligations or requirements,
any authority may pledge any of its revenues or mortgage or assign any of its assets, whether
real or personal and whether tangible or intangible, to secure the payment of any of
its bonds or notes. (d) All obligations created or assumed by any authority and all bonds
or notes issued thereby shall be solely and exclusively an obligation of such authority and
shall not create an obligation or debt of the state, the determining municipality or any other
political subdivision of the state or public corporation or governmental agency existing under
the laws thereof; provided, that the provisions of this...
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11-63-2
Section 11-63-2 Loans, grants, etc., of property, payment of principal or interest on outstanding
bonds and securities, etc., by municipalities for assistance of related public corporations
authorized generally; issuance of bonds by municipalities to provide moneys for loans, payments,
etc., generally; creation of irrevocable trust funds for payment of corporate securities.
(a) In addition to all other powers that a municipality may have with respect to a related
public corporation, any municipality may, with or without consideration and on such terms
as its governing body may deem advisable: (1) Lend or donate money to, or perform services
for the benefit of, a related public corporation; (2) Donate, convey, transfer, lease, or
grant to a related public corporation any property of any kind; (3) Pay, or provide for the
payment of, the principal of or interest on any then outstanding bonds or other securities
theretofore issued by a related public corporation, whether or not such...
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9-10A-15
Section 9-10A-15 Issuance of bonds. Bonds authorized by Section 9-10A-14 shall not be issued
until proposed by order or resolution of the board of directors of the watershed management
authority specifying the purpose for which the funds are to be used and the proposed undertaking,
the amount of bonds to be issued and the rate of interest they are to bear and are approved
by the Director of the state Department of Finance. An authority, with such approval, shall
have power and is authorized from time to time to issue its negotiable bonds. Said bonds may
be issued in one or more series, may bear such date or dates, mature at such time or times
not exceeding 40 years from their respective dates, bear interest at such rate or rates, payable
in such manner, be in such denominations, be in such form, either coupon or registered, be
executed in such manner, be payable in such medium of payment, at such place or places and
be subject to such terms of redemption, with or without premium, be...
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11-50-102
Section 11-50-102 Liability of municipal officials to bondholders for diversion, misappropriation,
etc., of funds for payment of bonds. The official charged with the duty of collecting assessments
shall be liable on his official bond to any holder of the bonds authorized to be issued under
this division for any loss or injury to such bondholder caused by the diversion by
said officer of any funds or part thereof to the payment of any bonds or coupons or indebtedness
of the city or town other than the bonds and interest coupons entitled and indebtedness authorized
by this division to be paid out of said fund or by the use or misappropriation by said officer
of any part of the funds out of which said bonds are required and contemplated in this division
to be paid for any other purpose than provided for in this division or for the benefit of
the city or town or others. All members of the governing body or bodies of the city or town
who shall, by their vote or in any other manner, cause,...
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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...
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11-97-9
Section 11-97-9 Bonds of corporation generally. (a) Any corporation shall have the power to
issue, sell and deliver at any time and from time to time its bonds in such principal amount
or amounts as its board shall determine to be necessary to provide sufficient funds for achieving
any of its corporate purposes, including the payment of interest on any of its bonds, the
establishment of reserves to secure any such bonds and all other expenditures of such corporation
incident to and necessary or convenient to carry out its corporate purposes and powers. Any
corporation shall also have the power to issue from time to time bonds to renew bonds and
bonds to pay bonds, including interest thereon and, whenever it deems refunding expedient,
to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or
have not matured, and to issue bonds partly to refund bonds then outstanding and partly for
any other of its corporate purposes. (b) The bonds issued by any...
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