16-18-3
Section 16-18-3 Procedure to incorporate. (a) By proceeding in the manner set forth herein, any number of natural persons, not less than three, may incorporate an educational building authority as a public corporation and as a political subdivision of the state. The said natural persons shall first file with the governing body of any municipality the proposed form of the certificate of incorporation of the authority, together with a written application seeking permission to apply for the incorporation of an authority for such municipality. Every such application shall also be accompanied by such supporting documents or evidence as the applicants may consider appropriate to show the need for an authority for the said municipality. The said governing body shall consider the said application and shall find and determine whether it is wise, expedient, necessary or advisable that the authority be formed; if the said governing body finds and determines that it is not wise, expedient,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18-3.htm - 5K - Match Info - Similar pages
11-88-5
Section 11-88-5 Authorization and procedure for amendment of certificate of incorporation. (a) The certificate of incorporation of any authority incorporated under the provisions of this article may at any time and from time to time be amended in the manner provided in this section. (b)(1) The board of directors of the authority shall first adopt a resolution proposing an amendment to the certificate of incorporation which shall be set forth in full in the resolution and which amendment may include: a. A change in the name of the authority; b. The addition to the service area of the authority of new territory lying within the determining county; c. Provisions for the operation of a system or facility the operation of which is not then provided for in the certificate of incorporation of the authority and which the authority is authorized by this article to operate; d. Any matters which might have been included in the original certificate of incorporation; e. Provisions for the addition...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-5.htm - 10K - Match Info - Similar pages
45-29-140.03
Section 45-29-140.03 Amendment of certificate of incorporation. (a) The certificate of incorporation of the authority incorporated under this article may at any time and from time to time be amended in the manner provided in this section. (b)(1) The board of directors of the authority shall first adopt a resolution proposing an amendment to the certificate of incorporation which shall be set forth in full in the resolution and which amendment may include: a. A change in the name of the authority. b. The addition to the service area of the authority of new territory lying within Fayette County. c. Provisions for the operation of a system or facility the operation of which is not then provided for in the certificate of incorporation of the authority and which the authority is authorized by this article to operate. d. Any matters which might have been included in the original certificate of incorporation. e. Provisions for the addition to the service area of the authority of new territory...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-140.03.htm - 5K - Match Info - Similar pages
45-47-250.03
Section 45-47-250.03 Amendment to certificate of incorporation. (a) The certificate of incorporation of the authority incorporated under this article may at any time, and from time to time, be amended in the manner provided in this section. (b)(1) The board of directors of the authority shall first adopt a resolution proposing an amendment to the certificate of incorporation which shall be set forth in full in the resolution and which amendment may include: a. A change in the name of the authority. b. The addition to the service area of the authority of new territory lying within Marion County. c. Provisions for the operation of a system or facility the operation of which is not then provided for in the certificate of incorporation of the authority and which the authority is authorized by this article to operate. d. Any matters which might have been included in the original certificate of incorporation. e. Provisions for the addition to the service area of the authority of new...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-47-250.03.htm - 6K - Match Info - Similar pages
45-38-141.03
Section 45-38-141.03 Amendment of certificate of incorporation. (a) The certificate of incorporation of the authority incorporated under this part may at any time and from time to time be amended in the manner provided in this section. (b)(1) The board of directors of the authority shall first adopt a resolution proposing an amendment to the certificate of incorporation which shall be set forth in full in the resolution and which amendment may include any or all of the following: a. A change in the name of the authority. b. The addition to the service area of the authority of new territory lying within Lamar County. c. Provisions for the operation of a system or facility the operation of which is not then provided for in the certificate of incorporation of the authority and which the authority is authorized by this part to operate. d. Any matters which might have been included in the original certificate of incorporation. e. Provisions for the addition to the service area of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-38-141.03.htm - 6K - Match Info - Similar pages
11-47-224
Section 11-47-224 Bonds of an authority - Payment out of revenues; security for payment; mortgages, security interests, or assignments as security for payment. (a) Any bonds issued by an authority shall be revenue bonds and shall be payable solely out of the revenues of the authority as may be designated in the proceedings of the board under which the bonds are authorized to be issued. (b) As security for payment of the principal of and interest on any bonds issued or assumed by it, an authority may enter into a contract or contracts, and adopt resolutions or other proceedings containing provisions constituting a part of the contract or contracts with the holders of the bonds, pertaining to, among other things, the following: (1) Pledging all or any part of the revenues of the authority to secure the payment of the bonds. (2) Pledging, assigning, or mortgaging all or any part of the assets of the authority to secure the payment of the bonds. (3) The creation of reserve, sinking, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-224.htm - 5K - Match Info - Similar pages
11-89A-10
Section 11-89A-10 Security for payment of bonds; contracts and agreements to secure. (a) Any bonds issued by the authority shall be revenue bonds and shall be payable solely out of such revenues of the authority as may be designated in the proceedings of the board under which they shall be authorized to be issued. Any such proceedings may provide that the bonds therein authorized shall be payable solely out of the revenues derived from the operation of any facility or facilities owned by the authority, regardless of the fact that those bonds may have been issued with respect to or for the benefit of a certain facility or facilities of the authority. (b) As security for payment of the principal and interest on any bonds issued or assumed by it, any authority may enter into a contract or contracts, and adopt resolutions or other proceedings containing provisions constituting a part of the contract or contracts with the holders of such bonds, pertaining to, among other things, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89A-10.htm - 5K - 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
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
45-30-250.02
Section 45-30-250.02 Franklin County Water Service Authority - Incorporation. (a) Three applicants shall be appointed to incorporate the Franklin County Water Service Authority by filing for record in the office of the judge of probate of the county a certificate of incorporation that shall comply in form and substance with the requirements of this section and shall be executed in the manner provided in this section. The applicants shall be appointed as follows: One applicant shall be appointed by the state senator who represents the senatorial district in which Franklin County is located; one applicant shall be appointed by the member of the House of Representatives representing Franklin County; and one applicant shall be appointed by the Franklin County Commission. (b) The certificate of incorporation of the authority shall include the following: (1) The names and residences of the persons forming the authority, and a statement that each is a qualified elector of the county, a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-30-250.02.htm - 3K - Match Info - Similar pages
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