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11-89B-1
Section 11-89B-1 Public corporation given power to sell and issue bonds, to pledge for
payment proceeds, revenues, etc., and to issue bonds or notes for temporary borrowing. In
addition to all other powers now or hereafter granted by law, each public corporation organized
under the laws of the State of Alabama which is authorized by law (i) to operate a water system
consisting of land, plants, systems, facilities, buildings and other property, or any combination
of any thereof, which are used or useful or capable of future use in providing, furnishing,
supplying or distributing water and (ii) to borrow money for use for one or more of its corporate
purposes shall have the following powers, together with all powers incidental thereto or necessary
to the discharge thereof in corporate form: (1) To sell and issue bonds of such public corporation
in order to provide funds for any corporate function, use or purpose for which such public
corporation is otherwise authorized by law to borrow...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-1.htm - 3K - Match Info - Similar pages
11-50-237
Section 11-50-237 Execution, sale, etc., of bonds and refunding bonds of corporation
generally; terms, denominations, etc., thereof; charge, application, etc., of revenues from
systems to payment of bonds, etc., generally; vesting of title to systems in municipality
and dissolution of corporation upon payment of bonds in full. (a) All bonds issued by any
corporation organized under this division shall be signed by the chairman of its board of
directors or other chief executive officer and attested by its secretary, and the seal of
such corporation shall be affixed thereto. Any interest coupons applicable to the bonds of
such corporation shall be signed by the chairman of the board of directors or other chief
executive officer, but a facsimile of such signature may be impressed on any such interest
coupon in lieu of his manually signing the same. Any such bonds may be executed and delivered
by such corporation at any time and from time to time, shall be in such form and denominations...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-237.htm - 4K - Match Info - Similar pages
11-50-316
Section 11-50-316 Execution, sale, etc., of bonds and refunding bonds of corporation;
terms, denominations, etc., thereof; charge, application, etc., of revenues from systems for
payment of bonds, etc., generally; vesting of title to systems in municipality and dissolution
of corporation upon payment of bonds in full, etc. (a) All bonds issued by any such corporation
organized or the certificate of incorporation of which is amended under this article shall
be signed by the chairman of the board of directors or other chief executive officer and attested
by its secretary, and the seal of such corporation shall be affixed thereto; provided that,
if authorized by the board of directors of such corporation, said bonds may be executed with
an engraved, imprinted, stamped, or otherwise reproduced facsimile of any signature or seal
in lieu of a manually made signature or manually made impressment of the seal; provided further,
that at least one signature required or permitted to be placed...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-316.htm - 5K - Match Info - Similar pages
11-59-9
Section 11-59-9 Bonds - Form, terms, denominations, etc.; execution, sale, delivery,
redemption, etc.; refunding of bonds. All bonds issued by the corporation shall be revenue
bonds and shall be payable solely out of the revenues derived from the leasing or operation
by the corporation of its facilities or of any thereof as may be designated in the proceedings
of the board of directors under which they shall be authorized to be issued. Such bonds may
be executed and delivered by the corporation at any time and from time to time, may be in
such form and denominations and of such tenor and maturities, may be in registered or bearer
form either as to principal or interest or both, may be payable in such installments and at
such time or times, not exceeding 40 years from the date thereof, may be payable at such place
or places whether within or without the State of Alabama, may bear interest at such rate or
rates payable at such time or times and at such place or places and evidenced in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-59-9.htm - 3K - Match Info - Similar pages
16-60-111.11
Section 16-60-111.11 Additional powers of board. (a) The board may exercise all of the
following powers: (1) To borrow money from the United States of America or any department
or agency thereof, or from any person, firm, corporation, or other lending agency for the
purchase, construction, enlargement, or alteration of any buildings or other improvements,
including dormitories, dining halls, classrooms, laboratories, libraries, stadiums, administration
buildings, and any other buildings and appurtenances thereto suitable for use by the institution
or institutions with respect to which the borrowing is made, or for the benefit of the Alabama
Community College System or one or more of its programs, the acquisition of furniture and
equipment for any thereof, the purchase of land, the beautification of grounds, and the construction
of swimming pools, tennis courts, athletic fields, and other facilities for physical education,
all for use by such institution or institutions, and for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-60-111.11.htm - 5K - Match Info - Similar pages
24-1A-6
Section 24-1A-6 Bonds. (a) General. The authority may from time to time issue its negotiable
bonds in such principal amounts as, in the opinion of the authority, shall be necessary to
provide sufficient funds for achieving the corporate purposes thereof, the payment of interest
on bonds of the authority, establishment of reserves to secure such bonds and all other expenditures
of the authority incident to, and necessary or convenient to, carrying out its corporate purposes
and powers. (b) Sources of Payment. Bonds issued by the authority shall be payable solely
out of revenues or property of the authority specified in the resolutions authorizing the
issuance of such bonds. To the extent permitted by any contracts with the holders of outstanding
bonds and any other contractual obligations or requirements, the authority may pledge any,
or all, of its revenues or mortgages or assign any, or all, of its assets (whether real or
personal and whether tangible or intangible) to secure the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-6.htm - 6K - Match Info - Similar pages
11-55-4
Section 11-55-4 Bonds - Security for payment of principal and interest. The principal
of and interest on any bonds issued under the authority of this chapter shall be secured by
a pledge of the revenues out of which such bonds shall be made payable, may be secured by
a mortgage covering all or any part of the project from which the revenues so pledged may
be derived and may be secured by a pledge of the lease of such project. The proceedings under
which such bonds are authorized to be issued or any such mortgage may contain any agreements
and provisions customarily contained in instruments securing bonds, including, without limiting
the generality of the foregoing, provisions respecting the fixing and collection of rents
for any project covered by such proceedings or mortgage, the terms to be incorporated in the
lease of such project, the maintenance and issuance of such project, the creation and maintenance
of special funds from the revenues from such project and the rights and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-55-4.htm - 2K - Match Info - Similar pages
11-61A-13
Section 11-61A-13 Bonds. (a) The authority may issue and sell its interest-bearing revenue
bonds for any corporate purpose at any time or times. The principal of and the interest on
the bonds shall be payable solely from, and may be secured by a pledge of, the revenues derived
by the authority from the operation of any or all of its parking facilities and other property,
or by mortgage of any property of the authority. The bonds issued or contracts entered by
the authority shall not constitute or create an obligation, debt, or charge against the credit
or taxing power of the state, any county, or municipality within the state. (b) The board
may provide for each of the following regarding the bonds: (1) Issuance time or times. (2)
Form and denominations. (3) Tenor. (4) Payment installments, which shall be at a time or times
not exceeding 40 years from their date. (5) Place or places of payment, whether within or
without the state. (6) Interest rate or rates payable and evidenced in a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-61A-13.htm - 2K - Match Info - Similar pages
11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-2.htm - 10K - Match Info - Similar pages
16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature
finds that the number of students attending the several school systems located in those areas
of North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions
will collectively increase by an estimated 9,000 students. As a result, there will be a need
for the construction of additional school facilities as well as the renovation of existing
school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions
will have a positive impact on future receipts to the Education Trust Fund, as the significant
population growth in North Alabama will increase sales, income, and other tax collections.
Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital
improvement costs associated with BRAC-related school construction. (b) The Alabama Public
School and College Authority is hereby authorized to sell and issue its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16A-7.htm - 24K - Match Info - Similar pages
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