11-81-146
Section 11-81-146 Lien of bonds. All revenue anticipation bonds of the same series issued under
this division shall, subject to prior and superior rights, have a prior and paramount lien
on the revenue of the undertaking in anticipation of which said bonds have been issued over
and ahead of all bonds payable from said revenue which may be subsequently issued and over
and ahead of any claims of obligations against said revenue subsequently incurred. All bonds
of the same series shall be equally and ratably secured without priority or preference by
reason of number or date of the bonds, of sale, of execution or of delivery by a lien on said
revenue in accordance with the provisions of this division, and the resolution or resolutions
authorizing said bonds. (Acts 1935, No. 154, p. 195; Code 1940, T. 37, §347.)...
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11-81-142
Section 11-81-142 Authorization of acquisition, construction, etc., of undertaking taking and
issuance of bonds in anticipation of revenues. The acquisition, construction, reconstruction,
improvement, betterment or extension of any undertaking may be authorized under this division;
and, in anticipation of the revenues to be derived from such undertaking, bonds may be authorized
to be issued under this division to provide funds for such purpose or purposes by resolution
or resolutions of the governing body, which may be adopted at a regular or special meeting
and at the same meeting at which they are introduced by a majority of the members of the governing
body present at such meetings if a quorum is present. (Acts 1935, No. 154, p. 195; Code 1940,
T. 37, §343.)...
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11-81-28
Section 11-81-28 Issuance, sale, etc., of negotiable notes in anticipation of sale of bonds.
Whenever bonds of any county or municipality shall have been authorized under this chapter
at any election or by the governing body thereof in cases where an election is not required,
such governing body may from time to time in anticipation of the sale of such bonds issue
negotiable notes of such county or municipality for the purpose for which such bonds shall
have been authorized and to an amount at any time outstanding not exceeding the maximum authorized
amount of such bonds. Such notes shall be general obligations of the issuing county or municipality,
shall be signed as the governing body may prescribe, shall be made payable as the governing
body may determine, not later than 12 months from their respective dates, and may be refunded
from time to time by the issue of new negotiable notes under this section; provided, that
no such refunding shall be effected which shall extend the final...
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11-81-149
Section 11-81-149 Exemption from taxation of undertakings, bonds, etc. So long as the municipality
or county shall own or possess any undertaking the property and revenue of such undertaking
shall be exempt from all taxation. Bonds issued under this division and the income therefrom
shall be exempt from all taxation. (Acts 1935, No. 154, p. 195; Code 1940, T. 37, §350.)...

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11-81-148
Section 11-81-148 Exercise of municipal or county taxing power, etc., for payment of bonds.
No holder or holders of any bonds issued under this division shall ever have the right to
compel any exercise of the taxing power of the municipality or county or the payment of any
funds other than the revenue from such undertaking to pay said bonds or the interest thereon,
and every bond issued under this division shall contain a recital to that effect. (Acts 1935,
No. 154, p. 195; Code 1940, T. 37, §349.)...
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16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding bonds;
security. The authority shall have power and is hereby authorized from time to time to provide
by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or
any part of the cost as herein defined of any of its projects. Such bonds may also be issued
to pay off, refund or refinance any outstanding bonds or other obligation of any nature owed
by the authority, whether or not such revenue bonds or other obligations shall then be subject
to redemption, and the authority may provide for such arrangements as it may determine for
the payment and security of the revenue bonds being issued or for the payment and security
of the revenue bonds or other obligations to be paid off, refunded or refinanced. The principal,
premium, if any, and interest of such revenue bonds shall be payable solely from the revenues,
receipts and earnings to be received by the authority in...
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11-88-7.1
Section 11-88-7.1 Additional powers. (a) Any authority organized or operating pursuant to Chapter
88 of Title 11 shall, in addition to all other powers now or hereafter granted by law, have
the following powers and rights: (1) To borrow money for temporary use for any of its corporate
purposes and, in evidence of such borrowing, to issue from time to time revenue bonds or notes
maturing not later than 36 months from the date of issuance. Any such temporary borrowing
may be made in anticipation of the sale and issuance of long-term revenue bonds, and in such
event, the principal proceeds from the sale of such long-term revenue bonds shall, to the
extent necessary, be used for payment of the principal of and the interest on the temporary
revenue bonds or notes issued in anticipation of the sale and issuance of such long-term revenue
bonds. Any such temporary borrowing may also be made with respect to a project simultaneously
with or after the sale and issuance of long-term revenue bonds...
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11-81-164
Section 11-81-164 Notice of adoption of authorization proceedings for issuance of bonds; limitation
period for actions to set aside authorization proceedings, restrain issuance of bonds, etc.
(a) After the adoption of authorizing proceedings providing for the issuance of bonds under
this article, the borrower shall cause to be published once a week for two successive weeks
in a newspaper either published or having general circulation within the limits of the county
or municipality, as the case may be, proposing to issue such bonds, a notice in substantially
the following form (the blanks being first properly filled in), with the printed or written
signature of the clerk or other recording officer of the borrower appended thereto: "An
ordinance (or resolution) authorizing the issuance of $_____ principal amount of revenue bonds
of (here insert name of the borrower) under the provisions of Title 11, Chapter 81, Article
5 of the Code of Alabama, as amended, was duly passed by the (here...
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11-50A-1
Section 11-50A-1 Definitions. As used in this chapter, the following words shall have the following
meanings unless the context clearly indicates otherwise: (1) AUTHORITY. Alabama Municipal
Electric Authority created pursuant to this chapter and any successor or successors thereto.
(2) BOARD. The board of directors of the authority. (3) BONDS. Any bonds issued by the authority
under the provisions of this chapter, including refunding bonds. (4) BOND ANTICIPATION NOTES.
Short term obligations issued by the authority in anticipation of the issuance of bonds. (5)
COSTS. All costs of acquisition, construction, reconstruction, improvement, equipment, alteration,
repair, or extension of any project; all costs of real and personal property required for
the purposes of any project, including any rights or undivided interest therein; all costs
of easements, franchises, water rights, fees, permits, approvals, licenses, and certificates,
and all costs of securing any permits, approvals, licenses,...
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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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