11-99A-6
Section 11-99A-6 Powers of a district. Any district shall have the following powers, in addition to those stated elsewhere in this chapter: (1) To have perpetual existence, subject to termination as herein provided. (2) To have and use a corporate seal, but the use of a corporate seal on any document shall not be required for the validity of a document or the due execution and delivery thereof. (3) To sue and to be sued and to be a party to suits, actions, and proceedings, but subject to the limitations on liability and the immunity granted in this chapter. (4) To enter into contracts and agreements affecting the affairs of the district, including contracts with the United States of America and any other public person. (5) To borrow money and to incur indebtedness and to evidence the same by bonds, all without an election. (6) To acquire and dispose of land, real property, personal property, and interests therein of any nature. (7) To acquire, construct, install, and operate...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-99A-6.htm - 5K - Match Info - Similar pages
11-88-8
Section 11-88-8 Bonds of authority - Form, terms, denominations, etc.; sale; execution and delivery; refunding; liability thereon; security for payment of principal and interest and payment thereof generally; provisions in mortgages, deeds of trust or trust indentures executed as security for payment of bonds generally. All bonds issued by the authority shall be signed by the chairman of its board or other chief executive officer and attested by its secretary and the seal of the authority shall be affixed thereto, and any interest coupons applicable to the bonds of the authority shall be signed by the chairman of its board or other chief executive officer; provided, that a facsimile of the signature of one, but not both, of said officers may be printed or otherwise reproduced on any such bonds in lieu of his manually signing the same, a facsimile of the seal of the authority may be printed or otherwise reproduced on any such bonds in lieu of being manually affixed thereto and a...
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37-7-10
Section 37-7-10 Enumerated powers. A corporation created under the provisions of this chapter shall have power to do any and all acts or things necessary or convenient for carrying out the purpose for which it was formed, including, but not limited to the power: To sue and be sued; to have a seal and alter the same at pleasure; to acquire, hold and dispose of property, real and personal, tangible and intangible, or interests therein, and to pay therefor in cash or on credit, and to secure and procure payment of all or any part of the purchase price thereof on such terms and conditions as the board shall determine; to acquire, own, operate, maintain and improve a system or systems; to pledge all or any part of its revenues or mortgage or otherwise encumber all or any part of its property for the purpose of securing the payment of the principal of and interest on any of its obligations; to construct works across or along any street or public highway or over any lands which are now or may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-7-10.htm - 2K - Match Info - Similar pages
5-13B-110
Section 5-13B-110 Pledge of assets. (a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall keep on deposit, in accordance with such regulations or orders as the superintendent shall promulgate, with such unaffiliated Alabama banks as such foreign bank may designate and the superintendent may approve, interest-bearing stocks and bonds, notes, debentures, or other obligations of the United States or any agency or instrumentality thereof, or guaranteed by the United States, or of this state, or of a city, county, town, village, school district, or instrumentality of this state or guaranteed by this state, or dollar deposits, or obligations of the International Bank for Reconstruction and Development, or obligations issued by the InterAmerican Development Bank, or obligations of the Asian Development Bank, or obligations issued by the African Development Bank, or such other assets as the superintendent shall by regulation or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-110.htm - 2K - Match Info - Similar pages
23-2-142
Section 23-2-142 Definitions. As used in this article, the following words and terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) AUTHORITY. The Alabama Toll Road, Bridge, and Tunnel Authority created by this article, or any board, body, or commission succeeding to the principal functions thereof or to which the powers given by this article to the authority shall be given by law. (2) BONDS or TOLL ROAD, BRIDGE, OR TUNNEL REVENUE BONDS. Bonds of the authority authorized under this article. (3) CONCESSIONAIRE. A person, firm, corporation, partnership, limited liability company, or other legal entity described in Section 23-2-144(a)(12) which has been awarded a contract to construct or operate, or both, a toll road or bridge by the department or the authority. (4) COST. As applied to a toll road, bridge, or tunnel project, the cost shall include, but not be limited to, the following: a. The cost of construction, including bridges...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-142.htm - 4K - Match Info - Similar pages
11-28-1.1
Section 11-28-1.1 Definitions. As used in this chapter, the following words and phrases shall have the following respective meanings, unless the context clearly indicates otherwise: (1) COSTS. When used with reference to or in connection with any public facility or any portion thereof, include all or any part of the cost of acquiring, constructing, altering, enlarging, extending, reconstructing, or remodeling such public facility, including the cost of all lands, structures, real or personal property, rights, rights-of-way, franchises, easements, permits, licenses, and interests acquired or used for, in connection with or with respect to such public facility, the cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring land to which such buildings or structures may be moved, the cost of all machinery, equipment, furniture, furnishings, and fixtures acquired or used for, in connection with or with respect to such public facility,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-28-1.1.htm - 8K - Match Info - Similar pages
22-23A-6
Section 22-23A-6 Powers of authority. (a) The authority shall have the following powers, among others specified by this chapter: (1) To have succession in its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid; (2) To sue and be sued and to prosecute and defend, at law and in equity, in any court having jurisdiction of the subject matter and of the parties thereto; (3) To have and to use a corporate seal and to alter such seal at pleasure; (4) To establish a fiscal year; (5) To construct and operate or lease to or from any community water system; (6) To execute agreements effectively obligating the authority to agree to pay and to pay such portion of the estimated reasonable cost of the project of each community water system as may be required to meet the water supply goals of the state; (7) To issue bonds or other obligations provided such proceeds are deposited in a special "Water Supply Assistance Fund" within the State Treasury;...
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11-50A-14
Section 11-50A-14 Right to receivership upon default. (a) In the event that the authority shall default in the payment of the principal of or interest on any of its bonds, bond anticipation notes or notes after they shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of 30 days, or if the authority shall default in any material respect in any agreement made with the holders of the bonds, bond anticipation notes or notes, any holder of bonds, bond anticipation notes or notes, or trustee therefor, shall have the right to apply in an appropriate judicial proceeding to the Montgomery County circuit court for the appointment of a receiver for the project, the revenues of which were pledged for payment of the principal of and interest due on the bonds, bond anticipation notes or notes, whether or not all bonds, bond anticipation notes or notes have been declared due and payable and whether or not the holder, or trustee therefor, is...
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11-50B-9
Section 11-50B-9 Funding. (a) In order to provide funds for payment of the costs of the acquisition, establishment, purchase, construction, maintenance, enlargement, extension, lease, or improvement of cable systems, telecommunications equipment, and telecommunications systems, public providers, within the limitations applicable under the Constitution of Alabama of 1901, may become indebted in an amount not to exceed the costs and the costs incurred in issuing the indebtedness and, in evidence thereof, issue the public provider's bonds or other evidences of indebtedness, as the case may be, in the manner, tenor, and form as may be otherwise provided by law, for the issuance of the public provider's warrants, bonds, or other evidences of indebtedness generally. The warrants, bonds, or other evidences of indebtedness issued pursuant to this section shall be payable solely from the revenues derived or to be derived from the operation of the systems or equipment and shall not have a...
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11-56-8
Section 11-56-8 Powers generally. The corporation shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name until dissolved as provided in this chapter; (2) To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties; (3) To make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, whether by purchase, gift, lease, devise, or otherwise property of every description which the board may deem necessary to the acquisition, construction, improvement, enlargement, operation, or maintenance of a project and to hold title thereto; (6) To construct, enlarge, equip, improve, maintain, and operate one or more projects; (7) To borrow money for any of its corporate purposes and to sell and issue...
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