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11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution, sale,
delivery, redemption, etc.; security for payment of principal or interest; remedies upon default;
liability of municipalities, board, etc., thereupon. (a) Any authority shall have power to
issue from time to time its bonds and notes in such principal amount 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 notes and bonds, the establishment of reserves to secure
any such notes and bonds and all other expenditures of such authority incident to and necessary
or convenient to carry out its corporate purposes and powers. Any authority shall also have
the power to issue from time to time notes to renew notes and bonds to pay notes, 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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
11-88-7
Section 11-88-7 Powers of authority generally; power of authority to acquire, operate, etc.,
systems, etc., outside service area; provisions in schedules of rates and charges generally;
powers of authority organized to construct and operate sewer system. (a) The 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, subject to the provisions of Section 11-88-18)
specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil
actions, except as otherwise provided in this article, and to defend civil actions against
it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To
adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To
acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-7.htm - 9K - Match Info - Similar pages
22-21-355
Section 22-21-355 Further provisions respecting investment of funds. In addition to the investment
powers granted by the enabling statute, any authority shall, to the extent permitted by the
contracts of such authority with the holders of its securities, have the further power to
invest any portion of the principal proceeds derived from the sale of any of its securities
not then needed for any of the purposes for which such securities were authorized to be issued,
any moneys held in any special fund created pursuant to any resolution or mortgage, mortgage
indenture, mortgage and trust indenture or trust indenture authorizing or securing any of
its securities, and any other moneys of such authority not then needed by it, in any of the
following: (1) Debt securities (whether general obligations or limited or special obligations)
of any state, territory or possession of the United States of America and of any political
subdivision of any such state, territory or possession, but if and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-355.htm - 3K - Match Info - Similar pages
24-1-61
Section 24-1-61 Definitions. The following terms, wherever used or referred to in this article
shall have the following respective meaning, unless a different meaning clearly appears from
the context: (1) AUTHORITY or HOUSING AUTHORITY. A public body organized as a body corporate
and politic in accordance with the provisions of this article for the purposes, with the powers
and subject to the restrictions set forth in this article. (2) COUNTY. All of the county except
that portion which lies within the territorial boundaries of any city or incorporated town.
(3) COUNTY COMMISSION. The governing body of any county. (4) HOUSING COMMISSIONER. One of
the members of an authority appointed in accordance with the provisions of this article. (5)
GOVERNMENT. Such term shall include the state and federal governments and any subdivision,
agency, or instrumentality, corporate or otherwise, of either of them. (6) STATE. The State
of Alabama. (7) FEDERAL GOVERNMENT. Such term shall include the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-61.htm - 4K - Match Info - Similar pages
36-27-24
Section 36-27-24 Funds for assets of retirement system - Creation; composition; disposition
of funds; appropriations. (a) Effective October 1, 1997, all the assets of the retirement
system shall be credited according to the purpose for which they are held among three funds,
namely, the Annuity Savings Fund, the Pension Accumulation Fund, and the Expense Fund. The
operation of the former Pension Reserve Fund and the Annuity Reserve Fund shall be discontinued
as of such date and the balance of the former Pension Reserve Fund shall be transferred to
the Pension Accumulation Fund, and the balance of the former Annuity Reserve Fund shall be
transferred to the Pension Accumulation Fund. (b) Annuity Savings Fund. The Annuity Savings
Fund shall be a fund in which shall be accumulated contributions from the compensation of
members to provide for their annuities. Contributions to and payments from the Annuity Savings
Fund shall be made as follows: Effective October 1, 1971, each employer shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-24.htm - 15K - Match Info - Similar pages
11-81-241
Section 11-81-241 Definitions. For the purposes of this article, the following words shall
have the following meanings: (1) COSTS OF A QUALIFIED PROJECT. All costs including, but not
limited to, the following: a. All costs of acquisition, by purchase or otherwise, construction,
assembly, installation, modification, renovation, or rehabilitation incurred in connection
with any qualified project or any part of any qualified project. b. All costs of real property,
fixtures, or personal property used in or in connection with or necessary for any qualified
project or for any facilities related thereto, including, but not limited to, the following:
1. The cost of all land, estates for years, easements, rights, improvements, water rights,
connections for utility services, fees, franchises, permits, approvals, licenses, and certificates.
2. The cost of securing any franchises, permits, approvals, licenses, or certificates. 3.
The cost of preparation of any application therefor and the cost of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-241.htm - 6K - Match Info - Similar pages
11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation 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. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-10.htm - 8K - Match Info - Similar pages
25-4-134
Section 25-4-134 Procedures for collection of delinquent contribution payments. (a) Generally.
The contributions, interest, and penalties required to be paid under this chapter shall be
a first and prior lien upon all property and rights to property, real or personal, of any
employer subject to this chapter. The lien shall arise at the time the contribution report,
or the payment of the contributions, as the case may be, was due to have been filed with or
made to the Department of Labor. The secretary may file in the office of the judge of probate
of any county in this state a certificate which shall show the name of the department for
which it is filed, the amount and nature of the contributions, interest, and penalties for
which a lien is claimed together with any costs that may have accrued, the name of the employer
against whose property a lien for such contributions, interest, and penalties is claimed and
the date thereof. An error in the certificate of the amount shall not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-134.htm - 18K - Match Info - Similar pages
45-37A-51.05
Section 45-37A-51.05 Retirement and relief fund. (a) For the purpose of the deductions from
salary provided for in this section, the salary of a fireman or policeman shall be deemed
to be the same as his or her salary is for the purpose of payroll deductions provided for
in Section 9 of Act 929. (b)(1) At the end of each payroll period after the effective date
of this subpart, the City of Birmingham shall deduct from the salary of each firefighter police
officer who commenced service on or after May 2, 1978, an amount equal to three and 30/100
percent of his or her salary plus an actuarially determined amount to cover one-half of the
cost of providing a retirement benefit after 20 years of credited service. This amount shall
not exceed the amount necessary to fund the additional cost over a period of 30 years, and
shall be deposited into the supplemental pension system; provided, however, the city shall
not make any such deduction from the salary of any firefighter or police officer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.05.htm - 5K - Match Info - Similar pages
11-89-7
Section 11-89-7 Powers of district generally; power of district to acquire, operate, etc.,
systems, etc., outside service area; provisions in schedules of rates and charges generally.
(a) The district 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 perpetuity, subject to the provisions of Section
11-89-17) specified in its certificate of incorporation; (2) To sue and be sued in its own
name in civil actions, except as otherwise provided in this chapter, and to defend civil actions
against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure;
(4) To adopt and alter bylaws for the regulation and conduct of its affairs and business;
(5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to
hold property of every description, real, personal, or mixed, whether...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-7.htm - 11K - Match Info - Similar pages
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