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11-81-65
Section 11-81-65 Bonds for refunding or funding of bonds outstanding - Security. Where the
indebtedness to be funded or refunded is secured in whole or in part by a lien, mortgage,
or deed of trust upon any property belonging to the municipality or by a pledge, assignment,
or appropriation of certain revenues or resources of the municipality, such municipality may
make a new lien, mortgage, or deed of trust upon such property or a new pledge, assignment,
or appropriation of such revenues or resources to secure the payment of the principal and
interest of such funding or refunding bonds, subject, however, to any valid prior liens, mortgages,
deeds of trust, pledges, assignments and appropriations. Municipalities are further authorized
to pledge, assign and appropriate to the payment of the principal and interest of funding
and refunding bonds issued after February 15, 1933, the collections or proceeds of any or
all uncollected special assessments and any or all moneys to be derived from...
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23-6-8
Section 23-6-8 Bonds of corporation; annual appropriation from state Public Road and Bridge
Fund. (a) The bonds of the corporation shall be signed by its president and attested by its
secretary and the seal of the corporation shall be affixed thereto or a facsimile thereof
printed or otherwise reproduced thereon. The signatures of both the president and the secretary
on any bonds may be facsimile signatures if the board of directors, in its proceedings with
respect to issuance of the bonds, provides for manual authentication thereof, or manual execution
of certificates of registration thereon, by a trustee, registrar, or paying agent or by named
individuals who are employees of the state assigned to the Finance Department or the State
Treasurer's office. Any bonds of the corporation may be executed and delivered by it at any
time and shall be in the form and denominations and of the tenor and maturities, shall bear
the rate or rates of interest payable and evidenced in such manner, may...
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11-62-8
any authority may enter into contracts with the holders of any of its bonds or notes preventing
such authority from thereafter issuing general obligation bonds or notes or limiting the amount
of such bonds or notes that may thereafter be issued. To the extent permitted by any contracts
with the holders of outstanding bonds and notes and any other contractual obligations or requirements,
any authority 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 or notes. (d) All obligations created or assumed by any authority and all bonds
or notes issued thereby shall be solely and exclusively an obligation of such authority and
shall not create an obligation or debt of the state, the determining municipality or any other
political subdivision of the state or public corporation or governmental agency existing under
the laws thereof; provided, that the provisions of this...
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33-12-5
grants or other assistance from federal, state and local governments or from agencies of such
governments and by issuing in its own name revenue bonds pledging a portion of the revenues
from such facilities. f. Arrange with any city, county, municipality or supplier of utilities
for the abandonment, relocation or other adjustment of roads, highways, bridges and utility
lines. (3) LAND ACQUISITION. The agency may acquire by purchase, lease, gift or condemnation
property of any kind, real, personal or mixed, or any interest therein, that the board
deems necessary or convenient to the exercise of its powers or functions; provided, that acquisition
by condemnation shall be limited to land, rights in land, including leaseholds and easements,
and water rights in the Alabama portion of the Elk River Watershed that the board determines
to be necessary to the control and optimum development of the Elk River. The amount and character
of the interests in land, rights in land and water rights...
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10A-20-7.04
charges for interest and service connected therewith; provided, however, that the corporation
shall not approve any application for a loan unless and until the person applying for the
loan shall show that the person has applied for the loan through ordinary banking channels
and that the loan has been refused by at least one bank or other financial institution. (4)
To purchase, receive, hold, lease, or otherwise acquire and to sell, convey, transfer, lease,
or otherwise dispose of real and personal property, together with the rights and privileges
as may be incidental and appurtenant thereto and the use thereof, including, but not restricted
to, any real or personal property acquired by the corporation from time to time in
the satisfaction of debts or enforcement of obligations. (5) To acquire the goodwill, business,
rights, real and personal property, and other assets, or any part thereof or interest
therein, of any persons, firms, corporations, joint-stock companies, associations,...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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11-81-141
Section 11-81-141 Powers of municipalities or counties generally; provisions in instruments
or deeds of trust creating pledges, mortgages, liens, etc., for payment of bonds; determination
of costs of acquisition, construction, etc., of undertakings. (a) In addition to the powers
which it may now have, any municipality or county shall have power under this division: (1)
To acquire by gift or purchase, to construct, to reconstruct, to improve, to better or to
extend any undertaking within or without the municipality or county or partially within or
partially without the municipality or county; (2) To operate and maintain any undertaking
for its own use and for the use of public and private consumers and users within and without
the territorial boundaries of the municipality or county; (3) To lease any undertaking or
portion thereof to any agency or department of the State of Alabama for a period or periods
not exceeding 40 years from the completion of the construction of the work, if...
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26-1A-204
Section 26-1A-204 Real property. (a) Unless the power of attorney otherwise provides, language
in a power of attorney granting general authority with respect to real property authorizes
the agent to: (1) demand, buy, lease, receive, accept as a gift or as security for an extension
of credit, or otherwise acquire or reject an interest in real property or a right incident
to real property; (2) sell; exchange; convey with or without covenants, representations, or
warranties; quitclaim; release; surrender; retain title for security; encumber; partition;
consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or
other governmental permits; plat or consent to platting; develop; grant an option concerning;
lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise
grant or dispose of an interest in real property or a right incident to real property; (3)
pledge or mortgage an interest in real property or right incident to...
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41-9-682
any of the aforesaid facilities. (c) The authority shall have the following powers, together
with all powers incidental thereto or necessary to the discharge thereof: (1) To adopt, alter
and repeal bylaws, not inconsistent with the provisions of this section, for the regulation
and conduct of its affairs and business; (2) To acquire, whether by purchase, construction,
exchange, gift, lease or otherwise and to improve, maintain, equip and furnish one or more
projects, including all real and personal properties which the members of the authority
may deem necessary in connection therewith, regardless of whether or not any such projects
shall then be in existence; (3) To lease to others any or all of its projects and properties
and to charge and collect rent therefor and to terminate any such lease upon the failure of
the lessee to comply with any of the obligations thereof; (4) To receive and accept, from
any source, aid or contributions of money, property, labor or other items of value...
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11-49A-8
subject to the provisions of Section 11-49A-20) specified in its certificate of incorporation;
(2) To sue and be sued in its own name in civil suits and actions and to defend suits 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 located in one or more counties
or municipalities and whether located within or outside the authorizing municipality; (6)
To make, enter into, and execute such contracts, agreements, leases, and other instruments
and to take other actions as may be necessary or convenient to accomplish any purpose for
which the authority was organized or to exercise any power expressly granted hereunder; (7)
To plan, establish, develop, acquire, purchase, lease, construct, reconstruct,...
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