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11-8-11
Section 11-8-11 Investment of surplus funds in United States securities. The county commission
is hereby authorized to invest the remaining surplus in any fund, after the adoption of the
budget or after provision has been made for anticipated indebtedness, in interest-bearing
securities issued by the United States government which are guaranteed as to principal and
which are redeemable upon application. This section shall be retroactive and investments heretofore
made are hereby ratified and approved. (Acts 1943, No. 505, p. 480.)...
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36-17-18
Section 36-17-18 Investment of surplus state funds in obligations of United States and State
of Israel. (a) The State Treasurer is authorized and empowered, in his or her discretion,
with the written approval of the Governor, to invest funds held in the State Treasury in direct
obligation of the United States of America and in direct obligations backed by the full faith
and credit of the State of Israel whenever and to the extent that the amount of any such funds
exceeds the amount which the State Treasurer finds, with the written approval of the Governor,
cannot be applied either immediately or within a short time to any purpose for which such
funds are held. (b) For the purpose of making investments under the provisions of this section,
the State Treasurer, with the written approval of the Governor, is authorized to make purchases
and sales of direct obligations of the United States of America and the State of Israel, and
the State Treasurer shall be the custodian thereof. (c) All...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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16-25-20
Section 16-25-20 Management of funds. (a) (1) The Board of Control shall be the trustees of
the several funds of the Teachers' Retirement System created by this chapter as provided in
Section 16-25-21, and shall have full power to invest and reinvest the funds, through its
Secretary-Treasurer, in the classes of bonds, mortgages, common and preferred stocks, shares
of investment companies or mutual funds, or other investments as the Board of Control may
approve, with the care, skill, prudence, and diligence under the circumstances then prevailing
that a prudent man acting in a like capacity and familiar with the matters would use in the
conduct of an enterprise of a like character and with like aims; and, subject to like terms,
conditions, limitations, and restrictions, the Board of Control, through its Secretary-Treasurer,
shall have full power to hold, purchase, sell, assign, transfer, and dispose of any investments
in which the funds created herein shall have been invested, as well...
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11-62-1
Section 11-62-1 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) AUTHORITY.
Any public corporation organized pursuant to this chapter. (2) AUTHORIZED PURPOSE OBLIGATION.
The term includes either of the following: a. Any lease, note, installment sale contract,
or any other obligation of a user, whether general or special, which was entered into, made,
assumed, or otherwise incurred by the user, in whole or in part, for the purpose of financing
the acquisition or ownership of one or more facilities, for the purpose of obtaining funds
with which to operate one or more facilities or for any combination of those purposes. b.
Any obligation of any kind which was entered into, made, assumed, or otherwise incurred by
the United States of America or any department, agency, or instrumentality...
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41-10-541
Section 41-10-541 Definitions. (a) The following words and phrases used in this division, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPROPRIATED
FUNDS. Net TVA payments to the extent such payments are pledged and appropriated to the authority
pursuant to Section 41-10-550. (2) AUTHORITY. The public corporation organized pursuant to
this division. (3) AUTHORITY GUARANTY. An agreement of the authority pursuant to which the
payment of debt service referable to bonds, notes, or other evidences of indebtedness of a
development agency is guaranteed by the authority. (4) AUTHORITY OBLIGATIONS. Bonds of the
authority and authority guaranties. (5) AUTHORITY-GUARANTEED OBLIGATIONS. Bonds, notes, or
other evidences of indebtedness of a development agency that are issued solely for the purpose
in financing a project and that are guaranteed, in whole or in part,...
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11-101A-8
Section 11-101A-8 Powers of authority. (a) In addition to all other powers granted elsewhere
in this chapter, and subject to the express provisions of its certificate of incorporation,
an authority shall have the following powers, together with all powers incidental thereto
or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate
name for the duration of time, which may be in perpetuity, specified in its certificate of
incorporation, or until dissolved as provided in Section 11-101A-24. (2) To sue and be sued
in its own name in civil suits and actions, and to defend suits and actions against it, subject,
however, to Chapter 93 of this title, which chapter is hereby made applicable to the authority.
(3) To adopt, alter, amend, and repeal bylaws, regulations, and rules for the regulation and
conduct of its affairs and business. (4) To adopt and make use of a corporate seal and to
alter the same at pleasure. (5) To acquire, whether by purchase,...
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40-20-50
Section 40-20-50 Collection of severance taxes; deposit into fund; distribution of investment
income; trustees; escrow agents; limitations. Any laws or parts of laws to the contrary notwithstanding,
any annual privilege tax levied upon persons engaging in the business of producing or severing
oil or gas or other hydrocarbons from the soil or waters of this state measured by the gross
value of such oil or gas or other hydrocarbons and which tax is applicable only in a particular
county and under which collections were being made on January 1, 1987, or which shall hereafter
be levied pursuant to legislative act, shall be continued and collected only as herein prescribed:
(1) All revenues collected from such local severance taxes shall, beginning the first day
of the month following August 3, 1987, be paid into the general fund of the county exclusively
for transfer and deposit into a trust fund hereby established until the total sum of $15,000,000
in severance tax revenues of the type...
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45-2-245.20
Section 45-2-245.20 Trust fund established; administration. (a) Any laws or parts of laws to
the contrary notwithstanding, any annual privilege tax levied upon persons engaging in the
business of producing or severing oil or gas or other hydrocarbons from the soil or waters
of Baldwin County measured by the gross value of such oil or gas or other hydrocarbons and
which tax is applicable only in Baldwin County and under which collections were being made
on January 1, 1987, shall be continued and collected only as herein prescribed. (1) All revenues
collected from such local severance taxes, shall, beginning the first day of the month following
May 19, 1989, be paid into the general fund of the county exclusively for transfer and deposit
into the trust fund hereby established until the total sum of fifteen million dollars ($15,000,000)
in severance tax revenues of the type described in this section, excluding any interest income
on amounts deposited therein from such total sum, has been...
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11-47-218
Section 11-47-218 Powers of authorities generally; location of projects; exercise of power
of eminent domain. (a) In addition to all other powers at any time conferred on it by law,
and subject to any express provisions of its certificate of incorporation to the contrary,
an authority shall have the following lawful powers, together with all powers incidental thereto
or necessary to discharge thereof in the corporate form: (1) To have succession by its corporate
name in perpetuity or for the duration specified in its certificate of incorporation. (2)
To sue and be sued in its own name in civil actions and to defend actions against it. (3)
To adopt and make use of a corporate seal and to alter the same at pleasure. (4) To adopt,
alter, and repeal bylaws, regulations, and rules, not inconsistent with this article or its
certificate of incorporation, for the regulation and conduct of the affairs and business of
the authority. (5) To acquire, receive, take, and hold, whether by purchase,...
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