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11-50-353
Section 11-50-353 Moneys received under article deemed trust funds; provisions in trust agreements
or resolutions for issuance of bonds as to trustees. All moneys received pursuant to the authority
of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed
to be trust funds to be held and applied solely as provided in this article. The resolution
authorizing the bonds of any issue or the trust agreement securing such bonds shall provide
that any officer with whom or any bank, trust company, or other fiscal agent with which such
moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the
same for the purposes hereof, subject to such regulations as this article and such resolution
or trust agreement may provide. (Acts 1951, No. 775, p. 1359, §12.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-353.htm - 1K - Match Info - Similar pages
22-14-11
Section 22-14-11 Administrative action and judicial review. (a) In any proceeding under this
article: (1) For the issuance or modification of rules and regulations relating to control
or sources of ionizing radiation; (2) For granting, suspending, revoking or amending any license;
or (3) For determining compliance with rules and regulations of the agency, the agency shall
afford an opportunity for a hearing on the record upon the request of any person whose interest
may be affected by the proceeding and shall admit any such person as a party to such proceeding.
(b) Whenever the agency finds that an emergency exists requiring immediate action to protect
the public health and safety, the agency may, without notice or hearing, issue a regulation
or order reciting the existence of such emergency and requiring that such action be taken
as is necessary to meet the emergency. Notwithstanding any provision of this article, such
regulation or order shall be effective immediately. Any person to...
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41-10-308
Section 41-10-308 Temporary loans in anticipation of issuance of bonds. In anticipation of
issuance of bonds under this article, the authority may, from time to time, borrow such sums
as may be needed for any of the purposes for which bonds are authorized to be issued under
this article, and in evidence of the moneys so borrowed may issue its promissory notes. The
principal of and the interest on notes so issued may, from time to time, be refunded by refunding
notes or by bonds in anticipation of the issuance of which such notes were issued. All such
notes, whether initial issues or refunding issues, may bear interest from their dates until
their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-308.htm - 1K - Match Info - Similar pages
41-10-498
Section 41-10-498 Temporary loans in anticipation of issuance of bonds. In anticipation of
issuance of bonds under this article, the authority may, from time to time, borrow such sums
as may be needed for any of the purposes for which bonds are authorized to be issued under
this article, and in evidence of the moneys so borrowed by issue of its promissory notes.
The principal of and the interest on notes so issued may, from time to time, be refunded by
refunding notes or by bonds in anticipation of the issuance of which such notes were issued.
All such notes, whether initial issues or refunding issues, may bear interest from their dates
until their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-498.htm - 1K - Match Info - Similar pages
41-10-55
Section 41-10-55 Issuance and sale of bonds authorized generally; form, terms, denominations,
etc., thereof; bonds to be deemed negotiable instruments; redemption. Bonds of the authority
may be sold from time to time as the board of directors may deem advantageous; provided, that
the aggregate principal amount of bonds of the authority which may be issued under this article
shall be limited to $20,000,000.00, but the said limitation shall not apply to refunding bonds
which may be issued under this article and also shall not apply to bonds of the authority
which may be issued under any other act which may at any time hereafter be enacted. The bonds
shall be in such forms and denominations and of such tenor and maturities, shall bear such
rate or rates of interest payable and evidenced in such manner and may contain other provisions
not inconsistent with this article as may be provided in the resolution or resolutions of
the board of directors of the authority wherein the bonds are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-55.htm - 3K - Match Info - Similar pages
41-9-353
Section 41-9-353 Bonds and other obligations to be exclusively obligations of commission; bonds
and coupons to be negotiable instruments and to constitute legal investments for banks, insurance
companies and fiduciaries; effect of recital as to issuance in resolution authorizing bonds.
All obligations incurred by the commission and all bonds issued by it shall be solely and
exclusively an obligation of the commission and shall not create an obligation or debt of
the State of Alabama or any county or municipality therein. All bonds issued by the commission,
while not registered, shall be construed to be negotiable instruments even though they are
payable from a limited source. All coupons applicable to any bonds issued by the commission,
while the applicable bonds are not registered as to both principal and interest, shall likewise
be construed to be negotiable instruments although payable from a limited source. Such bonds
shall constitute legal investments for savings banks and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-353.htm - 2K - Match Info - Similar pages
11-81-163
Section 11-81-163 Adoption, amendment, recordation, etc., of ordinances or resolutions for
issuance of bonds, segregation of revenues, etc. For the purpose of this article, any borrower
is authorized to adopt ordinances providing for the issuance of revenue bonds as provided
in this article and any and all other appropriate ordinances and resolutions deemed necessary
to effectuate the full intent and purpose of this article, including the segregation of revenues
derived from the operation of any project named in Section 11-81-161, the determination, fixation
and revision from time to time of rates to be charged for services and any and all other necessary
ordinances and resolutions to protect the properties, to provide for the adequate operation
thereof and to insure the security of the bonds; provided, that in the case of counties, the
style of any ordinance or resolution adopted under this article shall be the same as is provided
by the laws of the state in the case of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-163.htm - 1K - Match Info - Similar pages
11-81-176
Section 11-81-176 Elections and publication of ordinances, resolutions, etc., not required
for issuance and sale of bonds. This article shall be construed as authorizing the issuance
and sale of such bonds provided for herein without submitting the proposition for the approval
of same to the voters of the borrower. Where bonds are authorized under this article it shall
not be necessary to make publication of any ordinance, resolution, notice or proceeding relating
thereto other than is provided in Section 11-81-164; provided, that nothing in this article
shall be construed to prohibit the governing body from making such publication as it may deem
necessary in relation thereto. (Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §338.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-176.htm - 1K - Match Info - Similar pages
9-9-36
Section 9-9-36 Payment of tax to district treasurer - Failure deemed consent to issuance of
bonds and waiver of defenses. Each and every person owning land in the district who shall
fail to pay to the district treasurer the full amount for which his land is liable, as aforesaid,
within the time above specified shall be deemed as consenting to the issuance of water management
bonds; and, in consideration of the right to pay his proportion in installments, he thereby
waives his right of defense to the payment of any tax which may be levied for the payment
of bonds because of any irregularity, illegality or defect in the prior proceedings except
in case of an appeal as provided in this article, which is not affected by this waiver. (Acts
1965, No. 685, p. 1246, §29.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-9-36.htm - 1K - Match Info - Similar pages
2-5A-35
Section 2-5A-35 Refunding bonds. (a) Any bonds issued by the Department of Agriculture and
Industries pursuant to this article may from time to time thereafter be refunded by the issuance
of refunding bonds of the Department of Agriculture and Industries; provided, however, that
no refunding bonds shall be issued unless the present value of all debt service on the refunding
bonds, computed with a discount rate equal to the true interest rate of the refunding bonds
and taking into account all underwriting discount and issuance expenses, shall not be greater
than 97 percent of the present value of all debt service on the bonds to be refunded, computed
using the same discount rate and taking into account the underwriting discount and other issuance
expenses originally applicable to such bonds, determined as if such bonds to be refunded were
paid and retired in accordance with the schedule of maturities, considering mandatory redemption
as a scheduled maturity, provided at the time of...
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