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16-17-12
Section 16-17-12 Statutory mortgage lien. Any resolution of the board or trust indenture under
which bonds may be issued pursuant to the provisions of this chapter may contain provisions
creating a statutory mortgage lien in favor of the holders of such bonds and of the interest
coupons applicable thereto on the ancillary improvements or any part thereof (including any
after-acquired property) out of the revenues from which such bonds are made payable. The said
resolution of the board or the said trust indenture may provide for the filing for record
in the office of the judge of probate of each county in which any part of such ancillary improvements
may be located of a notice containing a brief description of such ancillary improvements and
of the land relating thereto, a brief description of such bonds and a declaration that the
said statutory mortgage lien has been created upon such ancillary improvements (and upon such
land as shall be made subject to the lien) for the benefit of...
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16-18-13
Section 16-18-13 Statutory mortgage lien. Any resolution of the board or trust indenture under
which bonds may be issued pursuant to the provisions of this chapter may contain provisions
creating a statutory mortgage lien in favor of the holders of such bonds and of the interest
coupons applicable thereto on the ancillary improvements or any part thereof (including any
after-acquired property) out of the revenues from which such bonds are made payable. The said
resolution of the board or the said trust indenture may provide for the filing for record
in the office of the judge of probate of each county in which any part of such ancillary improvements
may be located of a notice containing a brief description of such ancillary improvements and
of the land relating thereto, a brief description of such bonds, and a declaration that the
said statutory mortgage lien has been created upon such ancillary improvements (and upon such
land as shall be made subject to the lien) for the benefit of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18-13.htm - 1K - Match Info - Similar pages
22-21-323
Section 22-21-323 Source of payment; security. (a) Securities issued by an authority shall
not be general obligations of the authority but shall be payable solely out of the revenues
from any health care facilities or other properties or assets (including, without limitation,
proceeds from such securities, investment income and insurance and condemnation proceeds)
owned or operated by it and the proceeds of any hospital tax appropriated, apportioned or
allocated to it or for its benefit, or any portion of either thereof, all as may be provided
or specified in the resolution of the board authorizing such securities or the indenture under
which issued. The principal of and interest (and premium, if any) on any securities issued
by the authority shall be secured by a pledge of the revenues or taxes (or both) out of which
the same are payable and may be secured by a trust indenture evidencing such pledge or by
a foreclosable mortgage, mortgage indenture or mortgage and trust indenture...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-323.htm - 4K - Match Info - Similar pages
11-101A-14
Section 11-101A-14 Securities payable out of revenues from projects, properties, etc., indenture
may contain agreements; liens. (a) Securities issued by an authority shall not be general
obligations of the authority but shall be payable solely out of the revenues from any project
or other properties or assets, including, without limitation, proceeds from the securities,
investment income and insurance, and condemnation proceeds, owned by it, all as may be provided
or specified in the resolution of the board authorizing the securities or the indenture under
which issued. The principal of and interest, and premium, if any, on any securities issued
by the authority shall be secured by a pledge of the revenues out of which the same are payable
and may be secured by an indenture conveying as security for the securities all or any part
of its property, which indenture may be subject to foreclosure. (b) Any indenture executed
on behalf of the authority and any resolution of the board...
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11-58-8
Section 11-58-8 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued by a corporation organized under the authority
of this chapter shall be secured by a pledge of the rentals and other receipts of all or any
part of the medical clinic and its facilities financed in whole or in part with the proceeds
of such bond issue or with the proceeds of bonds refunded or to be refunded by such issue,
may be secured by a mortgage covering all or any part of the clinic from which the revenues
so pledged may be derived and may be secured by a pledge of the lease of such clinic. The
proceedings under which such bonds are authorized to be issued or any such mortgage may contain
any agreements and provisions customarily contained in instruments securing bonds, including,
without limiting the generality of the foregoing, provisions respecting the fixing and collection
of rents for any clinic or clinical facilities covered by...
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11-81-166
Section 11-81-166 Revenue bonds - Authority for issuance; authorization proceedings generally;
form, terms, denominations, etc.; execution and delivery generally; maturity and sale; payment
generally; trust indentures. (a) Any borrower may issue its revenue bonds for the purpose
of: (1) Financing the acquisition, improvement, enlargement, extension and repair, or any
of them, of a system or systems; (2) Refunding the principal of and the interest on any bonds
of such borrower theretofore issued under this article and then outstanding, whether or not
such principal and interest shall have matured at the time of such refunding; or (3) Financing
any such acquisition, improvement, enlargement, extension and repair, or any of them, and
refunding any such principal and interest. (b) Any bonds issued under this article shall be
made payable solely out of the revenues from the operation of a system or systems of the borrower
and may be made payable from any such revenues without regard to...
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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...
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22-29-1
Section 22-29-1 Definitions. For the purposes of this chapter, unless otherwise indicated,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) AUTHORITY. The public corporation organized pursuant to the provisions of this chapter
as a public corporation, agency and instrumentality of the state. (2) AUTHORIZING RESOLUTION.
A resolution or order adopted by the board of directors authorizing the issuance of bonds
by the authority or providing for an indenture of trust under and pursuant to which its bonds
are to be issued. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) BOARD.
The State Board of Health of the State of Alabama or the State Committee of Public Health
or the State Health Officer, whichever at the time has the authority to act in health matters
pursuant to Sections 22-1-3, 22-2-1, 22-2-2, 22-2-6 and 22-2-8. (5) BONDS. The bonds issued
by the authority under the provisions of this chapter. (6) BOND SERVICE...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-29-1.htm - 3K - Match Info - Similar pages
41-9-435
Section 41-9-435 Liability upon revenue bonds issued by commission. All revenue bonds issued
by the commission shall be solely and exclusively the obligations of the commission and shall
not create an obligation or debt of the state or of any county or of any municipality within
the state. All revenue bonds issued by the commission for the purpose of providing lodging
facilities shall be payable solely out of the revenues and receipts derived from the operation,
leasing or sale by the commission of such lodging facilities as may be designated in the proceedings
of the commission under which the bonds shall be authorized to be issued. The principal of
and interest on any such revenue bonds shall be secured by a pledge of the revenues and receipts
out of which the same may be payable and may be secured by a mortgage and deed of trust or
trust indenture conveying as security for such revenue bonds all or any part of the property
of the commission from which the revenues or receipts so...
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11-50A-19
Section 11-50A-19 Pledge of revenues. All or any part of the gross or net revenues derived
from any particular project or projects, whether or not such revenues were produced by a particular
project for which bonds have been issued, and any income and earnings otherwise received by
the authority from whatever source, and any other funds of the authority, may be pledged by
the authority to the payment of the principal of and interest on bonds as may be provided
in any resolution authorizing the issuance of any bonds or in any trust agreement or indenture
pertaining to those bonds. The funds so pledged may include funds received from one or more
or all sources and may be set aside at regular intervals into sinking funds for which provision
may be made in any resolution, trust agreement or indenture pertaining to the bonds. These
sinking funds may be pledged to and charged with the payment of (i) the interest on the bonds
as it shall become due, (ii) the principal of the bonds as they...
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