41-10-94
Section 41-10-94 Notice of resolution authorizing issuance of bonds; limitation period for
actions contesting validity of bonds, etc. (a) Upon the adoption by the board of any resolution
providing for the issuance of bonds, the corporation may, in its discretion, cause to be published
once a week for two consecutive weeks in a newspaper published in the county a notice in substantially
the following form (the blanks being properly filled in) at the end of which shall be printed
the name and title of either the chairman or secretary of the corporation: "Notice of
proposed issuance of revenue bonds of _____ (name of corporation). The above named public
corporation which is a political subdivision of the State of Alabama on the _____ day of _____,
adopted a resolution authorizing the issuance of $_____ principal amount of the revenue bonds
of said corporation for ______, which is a project authorized and permitted by the act of
the Legislature of Alabama under which said corporation was...
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45-29-90.09
Section 45-29-90.09 Bonds authorized. The authority may: (1) Sell and issue its bonds from
time to time in order to provide funds for any corporate function, use, or purpose, all such
bonds to be payable solely out of the revenues derived from the facilities and other property
of the authority or out of the revenues of any particular facilities and other property of
the authority; and (2) Secure such bonds by a pledge of all or any of the revenues which may
now or hereafter come to the authority from any source, by a mortgage or deed of trust covering
the authority's land or any part thereof, or under the provisions of a trust indenture, or
by a combination of one or more thereof; provided, that all obligations created or assumed
and all bonds issued by the authority shall be solely and exclusively obligations of the authority
and shall not create an obligation or debt of the state or of any county or municipality.
(Act 91-277, p. 517, §10.)...
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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...
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37-13-11
Section 37-13-11 Bonds of authority - Generally. Each authority shall have the power and is
hereby authorized at any time and from time to time to issue and sell its revenue bonds for
any of its corporate purposes. The principal of and the interest on all such bonds shall be
payable solely from, and may be secured by a pledge of, the revenues derived by the authority
from the operation, leasing or sale of any or all of its railroad properties and facilities,
and other property. No bonds issued or contracts entered into by the authority shall ever
constitute or create an obligation or debt of the state, or of any county, city or town within
the state, or a charge against the credit or taxing powers of the state, or of any county,
city or town within the state. Bonds of the authority may be issued by any time and from time
to time, may be in such form, either in bearer form with appurtenant coupons (and subject
to registration as to principal or interest, or both, all as the board may...
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41-10-653
Section 41-10-653 Powers of the authority. The authority shall have, in addition to all powers
heretofore granted to the authority pursuant to Division 1, the following powers: (1) To sell
and issue the bonds authorized herein for the purposes specified herein. (2) To pledge the
pledged revenues as security for the payment of the bonds. (3) To acquire any real or personal
property and to convey the same to the company or to any local governmental entity with or
without consideration. (4) To lease any real or personal property to the company or to any
local governmental entity for use in any part of the project. (5) To mortgage any part of
the project as security for the bonds. (6) To make, enter into, and execute contracts, agreements,
or other instruments necessary to acquire or construct capital improvements to any part of
the project. (7) To incur ancillary costs, project costs and training costs and to pay for
the same out of proceeds of the bonds, subject to the provisions of...
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41-10-673
Section 41-10-673 Powers and duties of the authority. The authority shall have, in addition
to all powers heretofore granted to the authority pursuant to the enabling act, the following
powers: (1) To sell and issue the bonds authorized herein for the purposes specified herein.
(2) To pledge the pledged revenues as security for the payment of the bonds. (3) To acquire
any real or personal property and to convey the same to the companies or to any local governmental
entity with or without consideration. (4) To lease any real or personal property to the companies
or to any local governmental entity for use in any part of the projects. (5) To mortgage any
part of the projects as security for the bonds. (6) To make, enter into, and execute contracts,
agreements, or other instruments necessary to acquire or construct capital improvements to
any part of the projects. (7) To incur ancillary costs, projects costs, and training costs
and to pay for the same out of proceeds of the bonds, subject...
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11-57-24
Section 11-57-24 Authority and procedure for dissolution of authorities; vesting of title to
assets or properties thereof in municipalities upon dissolution; formation of authorities
not to prevent subsequent formation of other authorities by same municipalities. (a) At any
time when the authority does not have any bonds outstanding, the board may adopt a resolution,
which shall be duly entered upon its minutes, declaring that the authority shall be dissolved.
Upon the filing for record of a certified copy of said resolution in the office of the judge
of probate of the county, the authority shall thereupon stand dissolved; and, in the event
that it owned any assets or property at the time of its dissolution, the title to all its
assets and property shall thereupon vest in the municipality. In the event the authority shall
at any time have outstanding bonds issued hereunder payable out of the revenues of different
projects, then as and when the principal of and interest on all bonds...
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16-17-19
Section 16-17-19 Dissolution of authority and vesting of title to its properties. At any time
when the authority does not have any bonds outstanding and when there shall be no obligations
assumed by the authority that are then outstanding, the board may adopt a resolution, which
shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon
the filing for record of a certified copy of said resolution in the office of the judge of
probate of the county in which the authority's original certificate of incorporation was filed,
the authority shall thereupon stand dissolved, and in the event it owned any property at the
time of its dissolution, the title to all its property shall thereupon vest in the determining
municipality. In the event the authority shall at any time have outstanding bonds issued hereunder
payable out of the revenues from various ancillary improvements, then, as and when the principal
of and the interest on all bonds payable, in whole or...
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16-18-21
Section 16-18-21 Dissolution of authority and vesting of title to its properties. At any time
when the authority does not have any bonds outstanding and when there shall be no obligations
assumed by the authority that are then outstanding, the board may adopt a resolution, which
shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon
the filing for record of a certified copy of said resolution in the office of the judge of
probate of the county in which the authority's original certificate of incorporation was filed,
the authority shall thereupon stand dissolved, and in the event it owned any property at the
time of its dissolution the title to all its property shall thereupon vest in the determining
municipality. In the event the authority shall at any time have outstanding bonds issued hereunder
payable out of the revenues from various ancillary improvements, then, as and when the principal
of and the interest on all bonds payable, in whole or in...
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22-23B-7
Section 22-23B-7 Purpose; issuing, selling and refunding of bonds. For the purpose of providing
funds for the authority to make loans to public bodies for a project or projects, or for the
payment of obligations incurred or temporary loans made for any of said purposes, the authority
is hereby authorized, from time to time, to issue and sell its bonds or other evidences of
indebtedness. Such bonds may be issued in one or more series; shall be in such form and denominations
and of such terms and maturities, not exceeding 30 years from the date of issue of each series;
shall bear such rate or rates of interest, payable and evidenced in such manner; may contain
such provisions for registration or for redemption prior to maturity; and may contain such
other provisions not inconsistent herewith, all as may be provided by the authorizing resolution.
As security for the payment of the principal of and interest on its bonds, the authority is
authorized to pledge, transfer and assign any...
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