24-1-70
Section 24-1-70 Issuance of bonds by authority; types of and security for bonds generally;
liability on bonds. An authority shall have power to issue bonds from time to time, in its
discretion, for any of its corporate purposes. An authority shall also have power to issue
or exchange refunding bonds for the purpose of paying, retiring, extending, or renewing bonds
previously issued by it. An authority may issue such types of bonds as it may determine, including,
without limiting the generality of the foregoing, bonds on which the principal and interest
are payable from income and revenues of the authority and from grants or contributions from
the federal government or some other source. Such income and revenues securing the bonds may
be: (1) Exclusively the income and revenues of the housing project financed in whole or in
part with the proceeds of such bonds; (2) Exclusively the income and revenues of certain designated
housing projects, whether or not they are financed in whole or in...
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11-55-13
Section 11-55-13 Authority of cities or towns to acquire, etc., and lease facilities to United
States Postal Service; issuance of bonds, etc., to finance acquisitions. Any city or town
in this state (1) May acquire (by construction, purchase or otherwise), improve and equip
land, buildings and other facilities for use by the United States Postal Service; (2) May
lease any such land, buildings or facilities to the United States Postal Service on such terms
and conditions as shall be mutually agreeable to such city or town and the United States Postal
Service; (3) May borrow money for the purpose of financing the costs of any such acquisition,
improvement and equipment; (4) May issue, in evidence of such borrowing, bonds, warrants,
notes or other securities (which such bonds, warrants, notes or other securities shall mature
and come due not later than 30 years from their date but shall otherwise be issued in accordance
with, and shall be subject to, applicable provisions of law); (5) May...
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11-47-2
Section 11-47-2 Borrowing of money authorized - Thirty-year loans. Any incorporated city or
town in this state may borrow money for temporary or any other lawful purpose or use to the
extent of its constitutional debt limit and pay all costs, fees, and commissions agreed upon
in connection with any such loans, and the governing body thereof may, without an election,
issue evidences of indebtedness in the form of interest-bearing warrants, notes, or bills
payable, maturing at such times as such governing body may determine, not exceeding 30 years
from the date of issue, and any such city or town may as security for any such evidences of
indebtedness and, as a part of the contract whereunder any money is borrowed, pledge to the
payment thereof so much as may be necessary therefor of any tax or license or revenues that
such city or town may then be authorized to pledge to the payment of bonded or other indebtedness.
(Acts 1921, Ex. Sess., No. 8, p. 6; Code 1923, §2011; Acts 1927, No....
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11-89A-9
Section 11-89A-9 Bonds of authority, generally. (a) Any authority shall have the power to issue,
sell, and deliver at any time and from time to time its bonds in such principal amount or
amounts as its board shall determine to be necessary to provide funds: (1) To finance the
costs of a facility or facilities; (2) To refund bonds theretofore issued or assumed by the
authority; (3) To provide funds to enable it to achieve any of its other corporate purposes;
or (4) To accomplish any one or more of the objectives referred to in subdivisions (1) through
(4). (b) Any such bonds may be executed and delivered by the authority at any time and from
time to time, may be in such form and denominations and of such tenor and maturities, may
be in registered or bearer form either as to principal or interest or both, may be payable
in such installments and at such time or times, not exceeding 45 years from the date thereof,
may be payable at such place or places whether within or without the State...
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21-1-19
Section 21-1-19 Negotiation of temporary loans. The Alabama Institute for Deaf and Blind shall
have the power, when authorized by the board of trustees or the executive committee thereof,
to borrow money for the purpose of paying salaries of employees, for the purpose of paying
other expenses of operating said institute, and for the purpose of paying obligations already
incurred in the operation of said institute and to pay interest on any sums so borrowed at
a rate not exceeding the legal rate of interest. Any such loans may be evidenced by notes
executed by said corporation and signed on behalf of said corporation by its president and
by the chairman of the executive committee of the board of trustees. All loans made as authorized
in this section shall be payable within 12 months from the date when such loans are made and
shall be repaid from funds appropriated by the State of Alabama for the use of said Alabama
Institute for Deaf and Blind. The aggregate amount of loans negotiated...
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11-50-97
Section 11-50-97 Making of loans and issuance of bonds to pay for sewers or sewer system. The
council may borrow money on the faith and credit of the city or town, executing the note of
the city or town therefor and pledging as security for such loan the proceeds of the proposed
assessments thereafter to be made as provided in this division, and such sum or sums so borrowed
the council may advance in payment or part payment of the cost of such sewer or sewers or
sewer system; and, upon the expiration of 30 days after the assessment for the cost of the
same shall have been made final, the council may then issue and sell bonds for such amount
as may be necessary, after deducting the amount paid by property owners, to pay the cost of
such sewers or sewer system, including such amounts as may have been borrowed for the purpose,
and all interest and other expenses incurred in and about the purchase of the same. The council
may provide in its contract with the owner or owners of the sewer,...
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22-29-2
Section 22-29-2 Purpose of chapter. It is the intent of the Legislature by the passage of this
chapter to enable the state, acting by and through the authority, to aid in the prevention
and control of water pollution, to provide state financial aid or grants to local public bodies
for the prevention and control of water pollution and, to these ends, to authorize the incorporation
of a state authority with power to issue bonds and from the proceeds of such bonds or other
funds obtained by the authority to enable the state to agree to pay and to pay such portion
of the estimated reasonable cost of the projects of each local public body as may be required
in order that such project shall be eligible for the maximum obtainable federal grant under
the Federal Water Pollution Control Act. (Acts 1971, No. 42, p. 279, §2.)...
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11-99-8
Section 11-99-8 Financing of project costs. (a) Payment of project costs may be made by any
of the following methods or any combination thereof: (1) Payment from the tax increment fund
of the tax increment district if the purpose of the payment is one provided for in Section
11-99-6 hereof; (2) Payment out of the general funds of the public entity, such payments being
used either directly by the public entity to pay such costs or used by a third party recipient
of such funds to pay such costs if within a Major 21st Century Manufacturing Zone; (3) Payment
out of the proceeds of the sale of warrants, bonds or notes (whether public improvement bonds
or notes, mortgage bonds, notes or certificates, revenue bonds or notes, or otherwise) issued
by the public entity, such payments being used either directly by the public entity to pay
such costs or used by a third party recipient of such funds to pay such costs if within a
Major 21st Century Manufacturing Zone; (4) Payment out of the proceeds...
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11-99A-15
Section 11-99A-15 Issuance of bonds by districts; terms and assessments. (a) A district may
borrow money by the issuance of bonds, which bonds shall be revenue obligations, payable exclusively
out of assessments levied on land within the district, and the bonds shall not be supported
by the full faith and credit of the appointing government. However, the bonds may be secured
by additional revenues, guarantees, pledges, letters of credit, or other credit enhancements
as may be provided by the district, the owner of any property within the district, or any
other person, to the extent provided in the proceedings of the board with respect to the issuance
of the bonds. (b) Bonds of a district shall be signed by its chair and attested by its secretary,
the seal of the district may be affixed thereto, and any interest coupons applicable to the
bonds shall be signed by the chair; provided that: (1) a facsimile of the signature of the
officers may be printed or otherwise reproduced on any bonds...
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22-34-9
Section 22-34-9 Certificates or notes in anticipation of bonds. In anticipation of the issuance
of bonds, the authority may borrow such sums as may be needed for any of the aforesaid purposes
and to obligate itself by certificate or promissory note, bearing interest at a rate or rates
to be specified by the authority, and maturing within 18 months from the date of such certificate
or promissory note. Such certificates or promissory notes shall be payable solely from the
proceeds of the bonds of the authority and from the funds from which such bonds are payable.
In the event that authority funds are not available for a loan for a project when application
is made, in order to accelerate the completion of any project, the public body may, with the
approval of the authority, obligate such public body to provide local funds to pay that portion
of the cost of the project which the authority will make available by loan, and the authority
shall refund the amount expended on its behalf by such...
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