45-37-90.06
bonds shall be payable solely from taxes made payable to the authority by any act of the Legislature heretofore or hereafter adopted and from the revenues of the authority derived from the activities, operations, and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the authority, in its discretion, may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the taxes payable to the authority under any act of the Legislature heretofore or hereafter adopted, and all or any part of revenues desired from the activities, operation, and enterprises in which the authority is hereby authorized to engage. In the resolution authorizing such revenue bonds or the mortgage given to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-90.06.htm - 9K - Match Info - Similar pages
45-39A-11.05
bonds shall be payable solely from taxes made payable to the authority by an act of the Legislature heretofore or hereafter adopted and from the revenues of the authority derived from the activities, operations, and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the authority, in its discretion, may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the taxes payable to the authority under any act of the Legislature heretofore or hereafter adopted and all or any part of revenues derived from the activities, operation, and enterprises in which the authority lawfully engages. In the resolution authorizing such revenue bonds or the mortgage given to secure the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39A-11.05.htm - 9K - Match Info - Similar pages
16-18A-6
Section 16-18A-6 Revenue 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 property and facilities, 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 property and facilities 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 property and facilities will be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-6.htm - 2K - Match Info - Similar pages
41-10-143
Section 41-10-143 Bonds - Contracts to secure payment of principal and interest. As security for payment of the principal and interest on bonds issued or obligations assumed by it, an 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, leasing and maintenance of any property and facilities 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 property and facilities 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 article for the protection of the bonds and other obligations being secured and the assurance that revenues from such property...
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24-1A-6
carrying out its corporate purposes and powers. (b) Sources of Payment. Bonds issued by the authority shall be payable solely out of revenues or property of the authority specified in the resolutions authorizing the issuance of such bonds. To the extent permitted by any contracts with the holders of outstanding bonds and any other contractual obligations or requirements, the authority may pledge any, or all, of its revenues or mortgages or assign any, or all, of its assets (whether real or personal and whether tangible or intangible) to secure the payment of any of its bonds. Revenues and property out of which bonds may be payable shall include, without limitation: (1) Payments of principal, interest, premiums and penalties in respect to mortgage loans, loans to mortgage lenders, mortgages and mortgaged property; (2) Proceeds referable to the foreclosure of mortgages or otherwise realized, by any and all means, upon any mortgaged property; (3) Payments made in redemption of the equity...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-6.htm - 6K - Match Info - Similar pages
41-10-654
Section 41-10-654 Bonds of the authority. (a) General authorization to issue bonds. The authority is authorized from time to time to sell and issue the bonds in one or more series in an aggregate principal amount of up to fifty million dollars ($50,000,000) in order to provide the funds to pay project costs, ancillary costs, and training costs. (b) Source of payment. The bonds authorized herein shall be solely and exclusively an obligation of the authority and shall not create an obligation or debt of the state. Such bonds shall not be general obligations of the authority but shall be payable solely from the pledged revenues. (c) Security for the bonds. The principal of and interest on the bonds shall be secured by a pledge of the pledged revenues and, if necessary and desirable in the authority's sole discretion, a mortgage on any part of the project. The resolution under which the bonds are authorized by the authority to be issued and any trust indenture or mortgage may contain any...
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45-49A-10.05
bonds. (a) The corporation shall have the power to borrow money and to issue revenue bonds as evidence of any money borrowed, which bonds shall be payable solely from the revenues derived from the activities and enterprises in which the corporation is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the corporation in its discretion may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the revenues derived from the activities or enterprises in which the corporation is hereby authorized to engage. (b) When the corporation deems it advisable, convenient, necessary, or expedient to issue such bonds, it shall so resolve and all the provisions of the resolution or mortgage and of such covenants and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-10.05.htm - 4K - Match Info - Similar pages
16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized and empowered to issue its bonds from time to time for the purpose of making equipment loans to finance equipment costs incurred or to be incurred by educational institutions. Such bonds may be in such aggregate principal amount as the board of directors shall determine to be necessary to pay the equipment costs included in such financing. The authority may pay from the proceeds of the sale of its bonds all expenses, including publication and printing charges, attorneys' fees, financial advisory fees, and other expenses which the board of directors may deem necessary or advantageous in connection with the authorization, advertisement, sale, execution, and issuance of its bonds or the making of equipment loans from the proceeds thereof. (b) Source of payment. All bonds issued by the authority shall be limited obligations of the authority payable solely from any combination of the following: (1) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-6.htm - 7K - Match Info - Similar pages
24-1-31
Section 24-1-31 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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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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