22-21-149
Section 22-21-149 Bonds - Use of proceeds. (a) The proceeds derived from the sale of
any bonds sold by the authority, other than refunding bonds, shall be used only to pay the
cost of acquiring, constructing, improving, enlarging and equipping one or more projects,
as may be provided in the proceedings in which the bonds are authorized to be issued. Such
cost shall be deemed to include the following: (1) The cost of any land forming a part of
such project or projects; (2) The cost of the labor, materials and supplies used in any such
construction, improvement or enlargement, including architect's and engineer's fees and the
cost of preparing contract documents and advertising for bids; (3) The purchase price of,
and the cost of, installing equipment for such project or projects; (4) The cost of landscaping
the lands forming a part of such project or projects and of constructing and installing roads,
sidewalks, curbs, gutters, utilities and parking places in connection therewith; (5)...
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11-88-7.1
Section 11-88-7.1 Additional powers. (a) Any authority organized or operating pursuant
to Chapter 88 of Title 11 shall, in addition to all other powers now or hereafter granted
by law, have the following powers and rights: (1) To borrow money for temporary use for any
of its corporate purposes and, in evidence of such borrowing, to issue from time to time revenue
bonds or notes maturing not later than 36 months from the date of issuance. Any such temporary
borrowing may be made in anticipation of the sale and issuance of long-term revenue bonds,
and in such event, the principal proceeds from the sale of such long-term revenue bonds shall,
to the extent necessary, be used for payment of the principal of and the interest on the temporary
revenue bonds or notes issued in anticipation of the sale and issuance of such long-term revenue
bonds. Any such temporary borrowing may also be made with respect to a project simultaneously
with or after the sale and issuance of long-term revenue bonds...
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11-89A-10
Section 11-89A-10 Security for payment of bonds; contracts and agreements to secure.
(a) Any bonds issued by the authority shall be revenue bonds and shall be payable solely out
of such revenues of the authority as may be designated in the proceedings of the board under
which they shall be authorized to be issued. Any such proceedings may provide that the bonds
therein authorized shall be payable solely out of the revenues derived from the operation
of any facility or facilities owned by the authority, regardless of the fact that those bonds
may have been issued with respect to or for the benefit of a certain facility or facilities
of the authority. (b) As security for payment of the principal and interest on any bonds issued
or assumed by it, any authority may enter into a contract or contracts, and adopt resolutions
or other proceedings containing provisions constituting a part of the contract or contracts
with the holders of such bonds, pertaining to, among other things, the...
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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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8-32-3
Section 8-32-3 Requirements for selling or offering to sell service contracts. (a) Either
the provider or its designee shall: (1) Provide a receipt for, or other written evidence of,
the purchase of the service contract to the contract holder. (2) Provide a copy of the service
contract to the service contract holder within a reasonable period of time from the date of
purchase. (b) A provider may, but is not required to, appoint an administrator or other designee
to be responsible for any or all of the administration of service contracts and compliance
with this chapter. (c) Each provider of service contracts sold in this state shall file a
registration with the commissioner on a form prescribed by the commissioner. Each provider
shall pay to the commissioner a fee in the amount of two hundred dollars ($200) annually.
All fees collected shall be paid into a special revolving fund to be set up by the State Treasurer
referred to as the "Service Contract Revolving Fund." The Service...
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16-16B-6
Section 16-16B-6 (Implementation Conditioned on Separate Legislative Enactment.) Appropriation
of revenues to the authority; pledge thereof for. For the purpose of providing for payment
of the principal, premium (if any), and interest on the Bonds, and to accomplish the objectives
of this chapter, there is hereby irrevocably pledged to those purposes, and hereby appropriated,
such amount as may be necessary therefor from the following sources: (a) The residue of the
receipts from the excise tax ("the utility gross receipts tax") levied by Title
40, Chapter 21, Article 3, as amended ("Article 3"), remaining after payment of
the expenses of administration and enforcement of Article 3, being that portion of the tax
that is required by Article 3 to be deposited in the State Treasury to the credit of the Trust
Fund, after there shall have been taken from the residue the amount necessary to pay at their
respective maturities the principal of and interest on those bonds issued by the...
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41-10-621
Section 41-10-621 Legislative findings and purpose. (a) The Legislature finds and declares
the following: (1) The State of Alabama has a great need from time to time to have access
to financing for economic development and industrial recruitment that does not involve improvements
to revenue-producing facilities. (2) It is desirable and in the public interest to establish
a state-level authority with the power to issue bonds for such general purposes. (3) The Alabama
Supreme Court has held, in effect, that only when the debt of a public corporation is payable
out of a new revenue source will such debt not be considered a debt of the state in contravention
of Section 213 of the Constitution of Alabama of 1901; the State of Alabama expects
to receive in the near future new revenues from the settlement of certain litigation between
the state and the tobacco industry. (4) By the passage of this division, it is the intention
of the Legislature to: a. Provide for the creation of a special...
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45-37A-51.05
Section 45-37A-51.05 Retirement and relief fund. (a) For the purpose of the deductions
from salary provided for in this section, the salary of a fireman or policeman shall
be deemed to be the same as his or her salary is for the purpose of payroll deductions provided
for in Section 9 of Act 929. (b)(1) At the end of each payroll period after the effective
date of this subpart, the City of Birmingham shall deduct from the salary of each firefighter
police officer who commenced service on or after May 2, 1978, an amount equal to three and
30/100 percent of his or her salary plus an actuarially determined amount to cover one-half
of the cost of providing a retirement benefit after 20 years of credited service. This amount
shall not exceed the amount necessary to fund the additional cost over a period of 30 years,
and shall be deposited into the supplemental pension system; provided, however, the city shall
not make any such deduction from the salary of any firefighter or police officer...
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11-47-226
Section 11-47-226 Loans, donations, performance of services, etc., by county, municipality,
or other political subdivision, etc., to achieve objectives of article; funding agreements;
amount of indebtedness under funding agreements. (a) For the purpose of attaining the objectives
of this article, any county, municipality, or other political subdivision, or public corporation,
agency, or instrumentality of the state, a county, or municipality, may, upon such terms and
with or without consideration, as it may determine, do any or all of the following: (1) Lend
or donate money to an authority or perform services for the benefit thereof. (2) Donate, sell,
convey, transfer, lease, or grant to an authority, without the necessity of authorization
at any election of qualified voters, any property of any kind. (3) Do any and all things,
whether or not specifically authorized in this section, not otherwise prohibited by
law, which are necessary or convenient to aid and cooperate with an...
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11-50A-9
Section 11-50A-9 Issuance of bonds; prerequisites; procedure; provisions; execution;
bond resolution covenants. (a) The authority shall, prior to the adoption by the board of
a resolution authorizing the issuance of any bonds, enter into one or more contracts with
two or more municipalities which are authorized to contract with the authority pursuant to
Section 11-50A-17. Any resolution of the board authorizing the issuance of bonds may
authorize those bonds to be issued in more than one series, and the issuance of each series
of bonds so authorized by that resolution need not be preceded by the entering into by the
authority of additional contracts pursuant to Section 11-50A-17. (b) The board may
by resolution or resolutions authorize the issuance of bonds. Unless otherwise provided therein,
the resolution or resolutions shall take effect immediately and need not be published or posted.
The board may authorize such types of bonds as it may determine, subject only to any agreement
with...
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