11-50A-26
Section 11-50A-26 Provisions of resolution, agreement, chapter, etc., as irrevocable
contract with holders of bonds, notes, etc. The provisions of any bond resolution, trust agreement
or indenture authorized in this chapter shall be a contract with every holder of the bonds,
bond anticipation notes or notes; and the duties of the authority under this chapter and under
any bond resolution, indenture, or trust agreement shall be enforceable by any bondholder
or noteholder by mandamus or other appropriate action. While any of the bonds, bond anticipation
notes or notes issued by the authority shall remain outstanding, the powers, duties, or existence
of the authority or of its officers, employees, or agents shall not be diminished, impaired,
or affected in any manner which will affect adversely the interest and rights of the holders
of those bonds, bond anticipation notes or notes. Any change in name or composition of the
authority shall in no way affect the vested rights of any person...
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11-57-11
Section 11-57-11 Bonds - Authority for issuance; security for payment of principal and
interest generally; form, terms, denominations, etc.; sale, redemption, etc. The authority
is empowered at any time and from time to time to sell and issue its revenue bonds for the
purpose of providing funds to acquire, construct, improve, enlarge, complete and equip one
or more projects and for payment of obligations incurred for any such purpose. The principal
of and interest on any such bonds shall be payable solely out of the revenues derived from
the project with respect to which such bonds were issued. Any bonds of the authority may be
delivered by it at any time and from time to time, shall be in such form and denominations
and of such tenor and maturities, shall bear such rate or rates of interest, payable and evidenced
in such manner, may contain provisions for redemption prior to maturity and may contain other
provisions not inconsistent with this chapter as may be provided by the...
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11-20-74
Section 11-20-74 Borrowing of money; security. (a) Subject to the conditions, qualifications,
and restrictions set forth in subsection (b), an agriculture authority may borrow money from
any person or governmental entity. As security for any money borrowed, together with interest
thereon, and any obligations incurred or assumed, an agriculture authority may mortgage, pledge,
or otherwise transfer and convey its real, personal, and mixed property, or any part or parts
thereof, whether then owned or thereafter acquired, including any franchises then owed or
thereafter adopted and all or any part of any funds of the authority. In a resolution authorizing
the mortgage given to secure the payment thereof, an agriculture authority, in addition to
its other powers, shall have the power to agree with the several holders of the mortgage to
make, enter, and perform covenants and agreements as to all of the following: (1) The conduct,
management, and maintenance of the properties held by the...
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37-13-19
Section 37-13-19 Notice of bond resolution. Upon the adoption by the board of any resolution
providing for the issuance of bonds, the authority may in its discretion cause to be published
once a week for two consecutive weeks, in a newspaper that is customarily published in this
state not less than five days in each calendar week and distributed in the county in which
is located the principal office of the authority, a notice in substantially the following
form (the blanks being properly filled in) at the end of which there shall be printed the
name and title of either the chairman or secretary of the authority: "___, a public corporation
of the State of Alabama, on the ____ day of ___, authorized the issuance of $___ principal
amount of revenue bonds of the said corporation for purposes authorized in the act of the
Legislature of Alabama under which the said corporation was organized. Any action or proceeding
questioning the validity of the said bonds, or the pledge and any...
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45-18-90.04
Section 45-18-90.04 Powers and obligations of board. The board may provide for constructive
notice of any statutory mortgage lien, authorize and make provisions respecting the assumption
by the authority of obligations respecting facilities and other property acquired by the authority;
provide for the use of the proceeds of bonds and notes issued by the authority; provide for
the refunding by the issuance of bonds and notes of the authority of bonds and notes theretofore
issued or obligations theretofore assumed by it. Bonds and notes issued and contracts entered
into by the authority pursuant to this article shall not constitute or create a debt of the
state or of any county, municipality, or other political subdivision of the state. (Act 2005-118,
p. 196, §5.)...
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16-17-18
Section 16-17-18 Notice of bond resolution. Upon the adoption by the board of any resolution
providing for the issuance of bonds, the authority may, in its discretion, cause to be published
once a week for two consecutive weeks, in a newspaper published in the determining municipality,
or if there is no newspaper published in the determining municipality, then in a newspaper
published in the county in which the determining municipality or any part thereof is located,
a notice in substantially the following form (the blanks being properly filled in) at the
end of which shall be printed the name and title of either the chairman or secretary of the
authority: "____, a public corporation and a political subdivision of the State of Alabama,
on the ____ day of ____, authorized the issuance of $____ principal amount of revenue bonds
of the said public corporation for purposes authorized in the act of the Legislature of Alabama
under which the said public corporation was organized. Any action...
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16-18-20
Section 16-18-20 Notice of bond resolution. Upon the adoption by the board of any resolution
providing for the issuance of bonds, the authority may, in its discretion, cause to be published
once a week for two consecutive weeks, in a newspaper published in the determining municipality,
or if there is no newspaper published in the determining municipality then in a newspaper
published in the county in which the determining municipality or any part thereof is located,
a notice in substantially the following form (the blanks being properly filled in) at the
end of which shall be printed the name and title of either the chairman or secretary of the
authority: "____, a public corporation and a political subdivision of the State of Alabama,
on the ____ day of ____, authorized the issuance of $____ principal amount of revenue bonds
of the said public corporation for purposes authorized in the act of the Legislature of Alabama
under which the said public corporation was organized. Any action...
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11-57-12
Section 11-57-12 Bonds - Recital as to authority for issuance; notice of resolution
authorizing issuance of bonds; limitation period for actions, etc., as to validity of proceedings
for issuance of bonds, etc. (a) Any resolution authorizing any bonds under this chapter shall
contain a recital that they are issued pursuant to the provisions of this chapter, which recital
shall be conclusive evidence that said bonds have been duly authorized pursuant to the provisions
of this chapter, notwithstanding the provisions of any other law now in force or hereafter
enacted or amended. (b) Upon the adoption by the board of any resolution providing for the
issuance of bonds, the authority may, in its discretion, cause to be published once a week
for two consecutive weeks in a newspaper then published in the municipality or, if there is
no newspaper then published in the municipality, then in a newspaper published or circulated
in the county, a notice in substantially the following form (with any...
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11-89A-23
Section 11-89A-23 Notice of bond resolution; contest to validity of bonds, etc. Upon
the adoption by the board of any authority of any resolution providing for the issuance of
bonds, such authority may, in the discretion of its board, cause a notice respecting the issuance
of such bonds to be published once a week for two consecutive weeks in each county in which
shall be located any facility financed or in any way assisted by the issuance of such bonds,
such publication in each such county to be in a newspaper having general circulation therein.
Such notice shall be in substantially the following form (the blanks being properly filled
in) at the end of which shall be printed the name and title of either the chairman or secretary
of such authority: "_____, a public corporation and instrumentality of the State of Alabama,
on the _____ day of _____, authorized the issuance of $_____ principal amount of bonds (or
notes, as the case may be) of the said public corporation for purposes...
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24-1-31
Section 24-1-31 Issuance of bonds by authority; types of and security for bonds generally;
liability on bonds. An authority shall have power to issue bonds, from time to time, in its
discretion, for any of its corporate purposes. An authority shall also have power to issue
or exchange refunding bonds for the purpose of paying, retiring, extending or renewing bonds
previously issued by it. An authority may issue such types of bonds as it may determine, including,
without limiting the generality of the foregoing, bonds on which the principal and interest
are payable from income and revenues of the authority and from grants or contributions from
the federal government or some other source. Such income and revenues securing the bonds may
be: (1) Exclusively the income and revenues of the housing project financed in whole or in
part with the proceeds of such bonds; (2) Exclusively the income and revenues of certain designated
housing projects, whether or not they are financed in whole or in...
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