41-4-14
Section 41-4-14 Use of funds in sinking fund - Books to be kept showing full entries as to sinking fund. The Director of Finance shall keep a separate book in which separate and full entries shall be made as to all deposits of sinking funds, which entries shall show with what bank deposited, or from whom bonds or other obligations are purchased and the terms of the deposit or the purchase. In the event any sinking fund is used for the purchase of any interest-bearing bonds or other obligations of the state, the book entries shall show the amount of the funds so used and from whom the bonds or obligations were purchased. In the event any sinking fund or part thereof is used for the purchase of any bond or obligation under Section 41-4-12, for which the particular sinking fund so used was intended and created, which is authorized to be cancelled and retired when so purchased, the book entries shall show the particular fund so used, the amount thereof and the time, character and...
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5-11A-5
Section 5-11A-5 Deposit of security for operation of trust business - Amount required and form; charges against deposit. Any corporation organized and operating as a trust company or as a bank authorized by law to do a trust business may deposit with the State Treasurer or elsewhere United States bonds, bonds, notes or debentures of any federal agency such as a federal land bank, banks for cooperatives, Farm Home Administration, Federal National Mortgage Association, etc., Alabama bonds, bonds of any city or county in the State of Alabama or mortgages which are first liens on real estate, worth in each case double the face of the mortgage, situated in this state, to an amount not less than $25,000.00, and may increase said deposit from time to time or reduce the same to an amount not less than $25,000.00, or may withdraw the deposit entirely, provided such trust companies or banks have made final settlement and accounted for all assets in their possession and under their control by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-5.htm - 1K - Match Info - Similar pages
16-25-2
Section 16-25-2 Name and date of establishment; powers, duties, etc., of Boards of Control; immunity of officers, employees, etc. (a) There shall be a retirement system which shall constitute a body corporate and shall be under the management of the Board of Control for the purpose of providing retirement allowances and other benefits under the provisions of this chapter for teachers of the State of Alabama. The retirement system shall be established as of October 1, 1940, or as soon thereafter as the Governor by proclamation declares the funds accruing to the Teachers' Retirement System of Alabama are sufficient to meet the obligations of the "normal contribution" on October 1, of a year following 1940. It shall have the power and privileges of a corporation and shall be known as the "Teachers' Retirement System of Alabama," and by such name all of its business shall be transacted, all of its funds invested and all of its cash and securities and other property held in trust for the...
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33-2-10
Section 33-2-10 Cost of each unit to be ascertained, etc.; sinking fund. Immediately upon the completion of each unit of development along its inland waterway system acquired or erected pursuant to this article, the director of the Alabama State Docks Department shall ascertain the cost of such unit, which cost shall be entered in the accounts kept by the State Docks Department as a charge against capital account for that unit. After the first 12 months from the completion of each unit pursuant to this article, one half of one percent of the cost thereof, not exceeding one half of the gross income thereof during each month, shall at the end of the month be credited to an account designated "sinking fund" and shall be used from time to time only for the purpose of paying interest charges and of retiring, by repurchase, bonds issued pursuant to this article at not more than par or by paying them off as the same mature, until all bonds issued pursuant to this article shall have been...
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41-4-11
Section 41-4-11 Use of funds in sinking fund - Sale of bonds; reinvestment of funds; cancellation of paid bonds. With the consent of the Governor, said bonds so purchased and held in trust may be sold from time to time by the Department of Finance, if it is deemed for the best interest of the sinking fund that said transactions be had, and the proceeds held or reinvested from time to time, provided always said fund be kept intact and be used at the maturity of the said bonds for the retirement of the same. Bonds in said sinking fund on maturity dates shall be cancelled and destroyed as other bond obligations of the state are handled when paid at maturity. (Acts 1935, No. 311, p. 743; Acts 1939, No. 112, p. 144; Code 1940, T. 55, ยง76.)...
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9-16-8
Section 9-16-8 Bonds, cash deposits or securities deposits of operators. (a) Any bond provided in this article to be filed with the department by the operator shall be in the form as the director prescribes, payable to the State of Alabama and conditioned that the operator shall faithfully perform all applicable requirements of this article and comply with all applicable rules of the department made in accordance with the provisions of this article. The bond shall be signed by the operator, as principal, and by a good and sufficient corporate surety licensed to do business in the State of Alabama, as surety. The penalty of the bond shall be two thousand five hundred dollars ($2,500) for each acre covered by the permit. In lieu of a bond, the operator may elect to deposit cash or negotiable bonds of the United States government or the State of Alabama or any municipality within the state with the department in lieu of a corporate surety. The cash deposit or market value of the...
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14-2-31
Section 14-2-31 Special funds. In the resolution or proceedings authorizing the issuance of any bonds, any temporary loans 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, certificates 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 or for the expense of selling and leasing the Kilby property. Any such special funds shall be held as trust funds by the State Treasurer separate and apart from all other moneys. The State Treasurer is authorized and directed to pay, solely from the special fund, or funds, provided therefor, the principal of and interest on all bonds issued under this chapter as such principal and interest respectively mature and come due and the redemption price of any bonds called prior to maturity. He shall establish...
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23-1-181
Section 23-1-181 Appropriations and pledges of revenue for payment of principal and interest on bonds; sinking fund. (a) Where used in this section the following words and terms shall be given the following respective meanings: (1) BONDS. Such term, without qualifying words or phrases, means bonds of the corporation issued under this article. (2) CODE. The Code of Alabama, 1975. (3) CORPORATION. Alabama Highway Finance Corporation, a public corporation and instrumentality of the State of Alabama that was organized and is existing under this article. (4) GASOLINE TAX APPROPRIATION STATUTE. Section 40-17-359. (5) HIGHWAY GASOLINE TAX. a. The excise tax levied in subdivision (1) of subsection (a) of Section 40-17-325, exclusive of those portions of the tax in respect of aviation fuel and marine gasoline, as those terms are used in the section; and b. The excise tax levied by Article 3 of Chapter 17 of Title 40, exclusive of that portion of the tax in respect of diesel fuel. (6) NET...
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31-1-6
Section 31-1-6 Professional licenses and certificates for spouses of active duty military personnel. (a) This section shall be known and may be cited as the Military Family Jobs Opportunity Act. (b) Except as provided in subsection (h), and notwithstanding other provisions of law, this section shall apply to any board, agency, commission, or other entity providing professional licenses or certificates, or both, for the purpose of employment in the State of Alabama. On or before January 1, 2019, each board, commission, or agency providing professional licenses or certificates, or both, shall promulgate rules in conformity with this section for the purpose of implementing its requirements. The rules shall provide a method of accomplishing both of the following: (1) The issuance of a license or certificate to an eligible individual if the requirements for certification or licensure of the original issuing state or governing body are substantially equivalent to that required in the state,...
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36-27-6
Section 36-27-6 Participation of employees of counties, cities, towns, public or quasi-public organizations, etc. - Generally. (a) The governing board of any county, city, town or public or quasi-public organization of the state or of any political subdivision thereof or the Alabama Extension Service and Agricultural Experiment Station System of Auburn University may, by resolution legally adopted to conform to rules prescribed by the Board of Control, elect to have its officers and employees from whatever sources and in whatever manner paid become eligible to participate in the retirement system; and the Adjutant General of the state, with the approval of the Governor, may, by application properly prepared and submitted in conformity with rules prescribed by the Board of Control, elect to have those employees of the Alabama National Guard employed pursuant to 32 U.S.C.A., Section 709, and paid from federally appropriated funds, become eligible to participate in this retirement system....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-6.htm - 16K - Match Info - Similar pages
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