4-3-51
Section 4-3-51 Bonds - Issuance and sale generally; payment of principal and interest generally;
form, denominations, terms, etc. The authority shall have the power and is hereby authorized
at any time and from time to time to issue and sell its interest-bearing revenue bonds for
any of its corporate purposes. The principal of and the interest on all such 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 airports, heliports, facilities and other property.
None of the bonds issued or contracts entered into by the authority shall ever constitute
or create an obligation or debt of the state or of any county or municipality within the state,
or a charge against the credit or taxing powers of the state or of any county or municipality
within the state. Bonds of the authority may be issued at any time and from time to time,
may be in such form and denominations, may be of such tenor, may be...
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41-10-44.11
Section 41-10-44.11 Publication of notice; time limitation on actions questioning bonds or
proceedings. Upon the adoption by the board of directors of the authority of any resolution
providing for the issuance of project obligations, the authority may, in its discretion, cause
to be published once a week for two consecutive weeks, in newspapers published or having a
general circulation in the Cities of Birmingham, Montgomery, Huntsville and Mobile, a notice
in substantially the following form (the blanks being properly filled in) at the end of which
shall be printed the name and title of either the president or the secretary of the authority:
"The State Industrial Development Authority, a public corporation under the laws of the
State of Alabama, on the ______ day of ___, authorized the issuance of $___ principal amount
of bonds or other obligations of the said public corporation for purposes authorized in Title
41, Chapter 10, Article 2A. The proceeds from the sale of the said...
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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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22-21-141
Section 22-21-141 Bonds - Revenue. The authority is empowered, at any time and from time to
time, to sell and issue its revenue bonds for the purpose of providing funds to acquire, construct,
improve, enlarge, complete and equip one or more projects and for payment of obligations incurred
for any such purpose. The principal of, and interest on, any such bonds shall be payable solely
out of the revenues derived by the authority from any one or more of its projects, all as
shall be provided by the resolution of the board or the indenture whereunder such bonds are
authorized to be issued. Any bonds of the authority may be delivered by it at any time and
from time to time, shall be in such form and denominations and of such tenor and maturities,
shall bear such rate or rates of interest (without regard to any usury or other laws regulating
or limiting interest rates, including without limitation, the provisions of Section 8-8-1,
as amended, all of which shall be inapplicable to any bonds...
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39-7-23
Section 39-7-23 Authorization for issuance of bonds by authority; terms, denominations, sale,
redemption, etc., of bonds; issuance of interim receipts, certificates, etc. Bonds of an authority
shall be authorized by resolution of the board of trustees of such authority and may be issued
in one or more series, may bear such date or dates, mature at such time or times not exceeding
40 years from their respective dates, bear interest at such rate or rates, payable semiannually,
be in such denominations, be in such form, either coupon or registered, be executed in such
manner, be payable in such medium of payment, at such place or places, be subject to such
terms of redemption, with or without premium, and be subject to being declared or becoming
due before the maturity date thereof as such resolution or resolutions may provide. Said bonds
may be issued for money or property, either at public or private sale, and for such price
or prices as such authority shall determine. Pending the...
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4-3-14
Section 4-3-14 Issuance and sale of bonds by authority; form, denominations, terms, etc., of
bonds. The authority shall have the power and is hereby authorized at any time and from time
to time to issue and sell its interest-bearing revenue bonds for any of its corporate purposes.
The principal of and the interest on all such 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 airports, heliports, facilities and other property. None of the bonds issued
or contracts entered into by the authority shall ever constitute or create an obligation or
debt of the state or of any county, city or town within the state, or a charge against the
credit or taxing powers of the state or of any county, city or town within the state. Bonds
of the authority may be issued at any time and from time to time, may be in such form and
denominations, may be of such tenor, may be payable in such installments and at...
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41-10-459
Section 41-10-459 Refunding bonds. The authority may from time to time sell and issue its refunding
bonds without limit as to principal amount for the purpose of refunding any bonds of the authority
at the time outstanding, paying the expenses of issuance thereof and paying any premiums necessary
to be paid to redeem any bonds so to be refunded; provided, however, that no refunding bonds
(other than refunding bonds issued to refund those bonds of the authority designated Building
Renovation Revenue Bonds, Series 1990, originally issued in the aggregate principal amount
of $29,500,000) 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 other issuance expenses) shall not be
greater than 99 percent of the present value of all debt service on the bonds to be refunded
(computed using the same discount rate and taking...
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41-10-502
Section 41-10-502 Specifications and priority of bonds. Any bonds of the authority may be executed
and delivered by it at any time and from time to time, shall be in such form and denominations
and of such tenor and maturities, shall bear such rate or rates of interest, fixed or floating,
payable and evidenced in such manner, may contain provisions for redemption prior to maturity
and may contain other provisions not inconsistent with this section, all as may be provided
by the resolution of the board of directors whereunder such bonds are authorized to be issued;
provided that no bond of the authority shall have a specified maturity date later than 20
years after its date. At its election, the authority may retain in the resolution(s) under
which any of the bonds are issued an option to redeem all or any thereof and at such redemption
price(s) and after such notice(s) and on such dates and on such terms and conditions as may
be set forth in said resolution(s) and as may be briefly...
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41-10-552
Section 41-10-552 Publication of notice; time limitation on actions contesting proceedings,
validity of obligations, etc. Upon the adoption by the directors of any resolution providing
for the issuance of authority obligations, the authority may, in its discretion, cause to
be published once a week for two consecutive weeks, in newspapers published or having a general
circulation in the Cities of Birmingham, Montgomery, Huntsville, and Mobile, a notice in substantially
the following form (the blanks being properly filled in) at the end of which shall be printed
the name and title of either the president or the secretary of the authority: "Alabama
Incentives Financing Authority, a public corporation under the laws of the State of Alabama,
on the ___ day of _____, authorized the issuance of $ ______ principal amount of bonds (a
guaranty agreement securing $ _____ principal amount of bonds of ___) for purposes authorized
in Title 41, Chapter 10, Article 16, Division 1 of the Code...
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45-37A-56.33
Section 45-37A-56.33 Bonds of the authority. The authority shall have the power and is hereby
authorized at any time and from time to time to issue and sell its interest bearing revenue
bonds for any of its corporate purposes. The principal of and the interest on all such 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. None of the bonds issued or contracts entered
into by the authority shall ever constitute or create an obligation or debt of the state,
or of any county, city, or town within the state, or a charge against the credit or taxing
powers of the state, or of any county, city, or town within the state. Bonds of the authority
may be issued at any time and from time to time, may be in such form and denominations, may
be of such tenor, may be payable in such installments and at such time or...
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