Code of Alabama

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11-81-179
Section 11-81-179 Statutory mortgage lien of bondholders - Duration; enforcement. (a)
Any system or systems that shall be made subject to a statutory mortgage lien as provided
for in Section 11-81-178 shall remain subject to such lien until payment in full of
the principal of and the interest on the bonds to secure the payment of which such lien was
created or until moneys sufficient for the payment thereof shall have been set aside in trust
for payment thereof. (b) Any holder of any of said bonds or of any of the interest coupons
applicable thereto and the trustee under any trust indenture, if so provided in such indenture,
may, by civil action, mandamus or other proceedings, protect, enforce and compel performance
of all duties of the officials of the borrower, including the fixing of sufficient rates,
the collection of revenues, the proper segregation of the revenues of the system or systems
and the proper application thereof; provided, however, that such statutory mortgage lien...

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9-6-10
Section 9-6-10 Bonds - Contracts to secure payment. As security for payment of the principal
and interest on bonds issued or obligations assumed by it, the authority may enter into a
contract or contracts binding itself for the proper application of the proceeds of bonds and
other funds, for the continued operation and maintenance of any equipment, facilities, apparatus
or systems owned or controlled and operated by it or under its authority or any part or parts
thereof, for the imposition and collection of reasonable rates and rentals for and the promulgation
of reasonable regulations respecting the use of equipment, facilities, apparatus and systems
of the authority and any service furnished therefrom, for the disposition and application
of its gross revenues or any part thereof and for any other act or series of acts not inconsistent
with the provisions of this chapter for the protection of the bonds and other obligations
being secured and the assurance that revenues from such...
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14-2-21
Section 14-2-21 Bonds - Security. The principal of, premium, if any, and interest on
the bonds of the authority shall be secured by any or all of the following, as the authority
may determine: (1) The rent and revenue for the use of one or more facilities of the authority;
(2) The net rent or sale proceeds from the Kilby property; (3) Any bond proceeds remaining
unexpended upon completion of all facilities to be constructed with such bond proceeds and
the payment of the cost thereof; (4) Any insurance proceeds which the authority may receive
by reason of its ownership of any of the facilities; and (5) Any mortgage upon or security
interest in one or more facilities of the authority, granted in connection with the issuance
of such bonds. The authority shall have authority to transfer and assign any lease of any
of the facilities and any lease or mortgage of the Kilby property as security for the payment
of such principal, premium, if any, and interest. The bonds may be issued under, and...
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41-10-318
Section 41-10-318 Security for bonds. The principal of, premium, if any, and interest
on the bonds of the authority shall be secured by any or all of the following, as the authority
may determine: (1) The rent and revenues from the lease or use of one or more facilities of
the authority; (2) The proceeds from any sale of any facilities of the authority; (3) Any
bond proceeds remaining unexpended upon completion of all facilities to be constructed with
such bond proceeds and the payment of the cost thereof; (4) Any insurance proceeds which the
authority may receive by reason of its ownership of any of the facilities; and (5) Any mortgage
upon or security interest in one or more facilities of the authority, granted in connection
with the issuance of such bonds. The authority shall have authority to transfer and assign
any lease or mortgage of any of its facilities as security for the payment of such principal,
premium, if any, and interest. The bonds may be issued under, and secured by,...
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41-10-508
Section 41-10-508 Security. The principal of, premium, if any, and interest on the bonds
of the authority shall be secured by any or all of the following, as the authority may determine:
(1) The rent and revenues from the lease or use of one or more facilities of the authority;
(2) The proceeds from any sale of any facilities of the authority; (3) Any bond proceeds remaining
unexpended upon completion of all facilities to be constructed with such bond proceeds and
the payment of the cost thereof; (4) Any insurance proceeds which the authority may receive
by reason of its ownership of any of the facilities; and (5) Any mortgage upon or security
interest in one or more facilities of the authority, granted in connection with the issuance
of such bonds. The authority shall have authority to transfer and assign any lease or mortgage
of any of its facilities as security for the payment of such principal, premium, if any, and
interest. The bonds may be issued under, and secured by, a...
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11-50-408
Section 11-50-408 When mortgages or pledges of property or revenues and liens thereof
effective; properties, persons, etc., subject thereto. Any mortgage or conveyance of property
and any pledge of revenues to secure the bonds of a district incorporated under this article
shall be valid and binding from the time when such mortgage or conveyance is delivered or
such pledge made, and the system, properties, revenue, income and moneys so mortgaged, conveyed
or pledged and thereafter received by such district shall immediately be subject to the lien
of such mortgage, conveyance or pledge without any physical delivery thereof or further act,
and the lien of any such mortgage, conveyance or pledge shall be valid and binding as against
all parties having claims of any kind in tort, contract or otherwise against the district,
irrespective of whether such parties have notice thereof, from the time when a statement thereof
is filed in the office of the judge of probate of the county or counties...
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11-100-4
Section 11-100-4 State assistance payments; application; procedures; determination of
base number of convention delegates; appropriations; quarterly requests; amount of payments.
(a) Any city, county, or entities or authorities thereof may apply to the State Director of
Finance for state assistance payments for any eligible facilities. The city, county, or entities
or authorities thereof shall file an initial application with the Director of Finance, which
shall be in writing and shall describe: (i) the eligible facilities; (ii) the need for said
facilities or the benefit therefrom; and (iii) the financing thereof, including the principal
and interest payments for the bonds. (b) The Director of Finance shall promptly review such
initial application and shall notify the applicant of any additional information that may
be necessary. (c) After reviewing the initial application and upon reasonable notice to the
applicant, the Director of Finance shall hold a public hearing on the...
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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...
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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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24-1-32
Section 24-1-32 Form, denominations, terms, etc., of bonds; sale of bonds; issuance
of interim certificates, etc. The bonds of the authority shall be authorized by its resolution
and shall be issued in one or more series and shall bear such date or dates, mature at such
time or times, not exceeding 60 years from their respective dates, bear interest at such rate
or rates, per annum payable at the time or times, be in such denominations, which may be made
interchangeable, be in such form, either coupon or registered, carry such registration privileges,
be executed in such manner, be payable in such medium of payment, at such place or places,
and be subject to such terms of redemption, with or without premium, as such resolution or
its trust indenture or mortgage may provide. The bonds shall be sold by public or private
sale as determined by the authority. Any public sale of bonds shall be conducted after notice
published, at least 10 days prior to the sale in a newspaper published in...
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