2-6-119
Section 2-6-119 Pledge for payment of principal and interest on bonds; filing with Judge of
Probate. In the proceedings authorizing the issuance of any of its bonds, the corporation
is authorized and empowered to pledge for the payment of the principal of and interest on
bonds at the respective maturities of the principal and interest, and to agree to use solely
for such purpose, all the revenues which under the provisions of Section 2-6-118 are provided
for the payment of the principal and interest, subject to prior pledges as and to the extent
the corporation may provide. Upon the issuance of any bonds pursuant to this article, the
corporation may file in the office of the Judge of Probate of Montgomery County, Alabama,
an instrument reciting the issuance of the bonds and the pledge of the revenues as security,
and the filing of the instrument shall constitute constructive notice of the pledge. The instrument
shall be received and recorded by the judge of probate upon the payment of...
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11-50A-9
Section 11-50A-9 Issuance of bonds; prerequisites; procedure; provisions; execution; bond resolution
covenants. (a) The authority shall, prior to the adoption by the board of a resolution authorizing
the issuance of any bonds, enter into one or more contracts with two or more municipalities
which are authorized to contract with the authority pursuant to Section 11-50A-17. Any resolution
of the board authorizing the issuance of bonds may authorize those bonds to be issued in more
than one series, and the issuance of each series of bonds so authorized by that resolution
need not be preceded by the entering into by the authority of additional contracts pursuant
to Section 11-50A-17. (b) The board may by resolution or resolutions authorize the issuance
of bonds. Unless otherwise provided therein, the resolution or resolutions shall take effect
immediately and need not be published or posted. The board may authorize such types of bonds
as it may determine, subject only to any agreement with...
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11-81-176
Section 11-81-176 Elections and publication of ordinances, resolutions, etc., not required
for issuance and sale of bonds. This article shall be construed as authorizing the issuance
and sale of such bonds provided for herein without submitting the proposition for the approval
of same to the voters of the borrower. Where bonds are authorized under this article it shall
not be necessary to make publication of any ordinance, resolution, notice or proceeding relating
thereto other than is provided in Section 11-81-164; provided, that nothing in this article
shall be construed to prohibit the governing body from making such publication as it may deem
necessary in relation thereto. (Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §338.)...

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41-10-326
Section 41-10-326 Special funds for payment of bonds, insurance, and other expenses. In the
resolution or proceedings authorizing the issuance of any bonds or any temporary loan or in
any indenture of trust, the authority may provide for the establishment of one or more special
funds for the payment of the principal of, or interest on, the bonds or notes, one or more
reserve funds therefor and a fund, or funds, for the payment of insurance premiums or other
expenses with respect to the ownership and leasing of the facilities. Any such special funds
shall be held as trust funds pursuant to agreement with such trustee bank or banks as may
be designated by the commission. The authority shall establish and maintain appropriate records
pertaining to such funds. Such records shall be available at all reasonable times to public
inspection. (Acts 1986, No.86-546, p. 1093, §27.)...
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11-60-20
Section 11-60-20 Powers conferred on corporation cumulative; further proceedings, etc., as
to incorporation and issuance of bonds not required; police powers of state and governmental
subdivisions not impaired. Neither this chapter nor anything contained in this chapter shall
be construed as a restriction or limitation upon any powers which the corporation might otherwise
have under any laws of this state, but shall be construed as cumulative of any such powers.
No proceedings, notice, or approval shall be required for the organization of the corporation
or the issuance of any bonds or any instrument as security therefor, except as is provided
in this chapter, any other law to the contrary notwithstanding; provided, that nothing in
this chapter shall be construed to deprive the state and its governmental subdivisions of
their restrictive police powers over any properties of the corporation or to impair any power
thereof of any official or agency of the state and its governmental...
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16-13-101
Section 16-13-101 Redemption of warrants prior to maturity. Any board of education issuing
warrants hereunder may, if such action shall be deemed advisable by the issuing board, retain
in the proceedings authorizing the issuance of such warrants an option to redeem prior to
maturity all or any part thereof, as may be specified in such proceedings, at such price or
prices and after such notice or notices and on such terms and conditions as may be set forth
in such proceedings and as may be briefly recited in the face of such warrants; provided,
that the redemption price for any warrant redeemed prior to maturity shall not exceed the
par value of that warrant plus accrued interest thereon to the date fixed for redemption and
plus a premium not exceeding 12 months' interest on such warrant computed at the rate it would
by its terms bear on the date fixed for redemption if it had not been called for redemption.
Notice of the call for redemption prior to maturity of any warrant issued...
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11-81-222
Section 11-81-222 Contents of complaint; order and notice of hearing to show cause why obligations
not valid. (a) The complaint by appropriate allegations, references or exhibits shall briefly
state the following: the authority for issuing such obligations; the resolution or resolutions
authorizing their issuance and the fact of their adoption and all essential proceedings had
or taken in connection therewith; the amount of the obligations to be issued; the maximum
rate of interest they are to bear; when principal and interest are to be paid and the place
of payment (unless the successful bidder at public sale will have the right to name, designate,
request or suggest the place of payment, which shall be stated if this is the case); the taxes,
other revenues or other means provided for their payment; and, in the case of obligations
payable from taxes, the amount of outstanding indebtedness payable or secured by the same
taxes and the assessed valuation for the then preceding tax year...
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11-81-162
Section 11-81-162 Estimate of cost of acquisition, extension, repair, consolidation, etc. Whenever
the governing body of any borrower shall determine to acquire, improve, enlarge, extend or
repair a system or systems under the provisions of this article, it shall first cause an estimate
to be made of the cost thereof, and the fact that such estimate has been made and the amount
thereof shall appear in the authorizing proceedings providing for the issuance of the bonds
proposed to be issued to finance such acquisition, improvement, enlargement, extension or
repair. (Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code
1940, T. 37, §310; Acts 1955, No. 494, p. 1127, §3.)...
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6-6-752
Section 6-6-752 Contents of petition; order to show cause; service of petition and order on
district attorney; publication of public notice. (a) The authority for issuing such obligations,
the fact that an election has been held and that such election was in favor of the issuance
of such obligations, if an election was required, the ordinances or resolutions authorizing
their issuance and the fact of their adoption, and all essential proceedings had or taken
in connection therewith, the amount of the obligations to be issued, the maximum rate of interest
they are to bear, when principal and interest are to be paid and the place of payment (unless
the successful bidder at public sale will have the right to name, designate, request, or suggest
the place of payment, which shall be stated if this is the case), the tax or other means provided
for their payment, the assessed value of the property in the unit, the amount of outstanding
indebtedness incurred and the date or dates when so...
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11-54-100
Section 11-54-100 Construction of division. (a) Neither this division nor anything contained
in this division shall be construed as a restriction or limitation upon any powers which the
industrial development board might otherwise have under any laws of this state, but shall
be construed as cumulative of any such powers. (b) No proceedings, notice, or approval shall
be required for the organization of the board or the issuance of any bonds or any instrument
as security therefor, except as is provided in this division, any other law to the contrary
notwithstanding; provided, that nothing in this division shall be construed to deprive the
state and its governmental subdivisions of their respective police powers over any properties
of the board or to impair any power thereover of any official or agency of the state and its
governmental subdivisions which may be otherwise provided by law. (Acts 1949, No. 649, p.
998, §16.)...
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