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11-57-16
Section 11-57-16 Bonds - Disposition of proceeds from sale. (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. (b)
Such cost, which shall be paid from the proceeds derived from the sale of bonds, shall be
deemed to include the following: (1) The cost of acquiring any land forming a part of the
project; (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 the project; (4) The cost of landscaping the lands forming a part of the project
and of constructing and installing roads, sidewalks, curbs, gutters,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-16.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-7.1.htm - 5K - Match Info - Similar pages
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)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-149.htm - 2K - Match Info - Similar pages
37-13-14
Section 37-13-14 Bonds of authority - Disposition of proceeds from sale of bonds. The proceeds
derived from the sale of any bonds (other than refunding bonds) may be used only to pay the
costs of acquiring, constructing, improving, enlarging and equipping the railroad properties
and facilities, or other property with respect to which they were issued, as may be specified
in the proceedings in which the bonds are authorized to be issued. Such costs shall be deemed
to include the following: the costs of any land or easements forming a part of such railroad
properties and facilities or other property; the cost of labor, material and supplies used
in any such construction, improvement or enlargement, including architects' and engineers'
fees, and the cost of preparing contract documents and advertising for bids; the purchase
price of, and the cost of installing equipment for use in connection with, such railroad properties
and facilities or other property; the cost of constructing and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-13-14.htm - 2K - Match Info - Similar pages
11-56-14
Section 11-56-14 Bonds - Disposition of proceeds from sale. (a) The proceeds derived from the
sale of any bonds (other than refunding bonds) may be used only to pay the cost of acquiring,
constructing, improving, enlarging and equipping the project with respect to which they were
issued as may be specified in the proceedings in which the bonds are authorized to be issued.
(b) Such cost, which shall be paid from the proceeds derived from the sale of bonds, shall
be deemed to include the following: (1) The cost of any land forming a part of the project;
(2) The costs 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 the project; (4) The cost of landscaping the lands forming a part of the project and of
constructing and installing roads, sidewalks, curbs, gutters,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-56-14.htm - 1K - Match Info - Similar pages
11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution, sale,
delivery, redemption, etc.; security for payment of principal or interest; remedies upon default;
liability of municipalities, board, etc., thereupon. (a) Any authority shall have power to
issue from time to time its bonds and notes in such principal amount as its board shall determine
to be necessary to provide sufficient funds for achieving any of its corporate purposes, including
the payment of interest on any of its notes and bonds, the establishment of reserves to secure
any such notes and bonds and all other expenditures of such authority incident to and necessary
or convenient to carry out its corporate purposes and powers. Any authority shall also have
the power to issue from time to time notes to renew notes and bonds to pay notes, including
interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance
of new bonds, whether the bonds to be refunded...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
16-18B-13
Section 16-18B-13 Refunding bonds. Pursuant to the provisions of the aforesaid amendment and
this article, the corporation may, at any time and from time to time, issue for the state
refunding bonds of the state for the purpose of refunding any or all of the bonds authorized
by the amendment then outstanding (including any refunding bonds that may have been previously
issued), whether such refunding shall occur before, at or after the maturity of the bonds
to be refunded. In the discretion of the corporation, refunding bonds may be issued in exchange
for such outstanding bonds or they may be sold and the proceeds thereof applied to the purchase,
redemption or payment of outstanding bonds. Refunding bonds to be sold pursuant hereto may
be issued in such principal amount or amounts as shall be determined by the corporation. Pending
the application of the proceeds of refunding bonds issued in accordance with this section,
such proceeds, together with investment income therefrom, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18B-13.htm - 5K - Match Info - Similar pages
41-29-501
Section 41-29-501 Definitions. (a) For the purposes of this article, the following words and
phrases shall have the following meanings: (1) AUTHORITY. The public corporation organized
pursuant to the provisions of Sections 41-10-20 through 41-10-32. (2) AUTHORIZED PURPOSE.
Any one or more of the purposes for which grants are herein authorized to be made as specified
in Section 41-29-503(a). (3) BOARD OF DIRECTORS. The board of directors of the authority.
(4) BOND. The bonds issued under the provisions of this article. (5) CAPITAL COSTS. All costs
and expenses incurred by one or more investing companies in connection with the acquisition,
construction, installation, and equipping of a qualifying project during the period commencing
with the date on which such acquisition, construction, installation, and equipping commences
and ending on the date on which the qualifying project is placed in service, including, without
limitation of all of the following: a. The costs of acquiring,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-29-501.htm - 7K - Match Info - Similar pages
11-58-7
Section 11-58-7 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, etc.;
dissolution of corporation. (a) All bonds issued by a corporation organized under authority
of this chapter shall be solely and exclusively obligations of the corporation and shall not
create an obligation or debt of any municipality or county. No county or municipality shall
pledge its faith or credit for the payment of any debt incurred or bonds issued by the corporation.
(b) Bonds may be executed and delivered at any time and from time to time, may be in the form
and denominations, may be of the tenor, may be in registered or bearer form, either as to
principal or interest or both, may be payable in installments and at a time or times, not
exceeding 40 years from their issuance date, may be payable at a place or places, may bear
interest at a rate or rates payable at a place or places and evidenced in a manner, and may
contain provisions not inconsistent with this chapter as may be provided by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-58-7.htm - 3K - Match Info - Similar pages
11-101A-15
Section 11-101A-15 Use of proceeds. (a) The principal proceeds derived from any borrowing made
by an authority shall be used solely for the purpose or purposes for which the borrowing was
authorized to be made. If any securities are issued for the purpose of financing costs of
acquiring, constructing, improving, enlarging, and equipping a project, those costs shall
be deemed to include the following: (1) The cost of any land forming a part of the project.
(2) The cost of the labor, materials, and supplies used in any construction, improvement,
or enlargement, including architectural and engineering fees and the cost of preparing contract
documents advertising for bids. (3) The purchase price of, and the cost of installing, equipment
for the project. (4) The cost of landscaping the lands forming a part of the project and of
constructing and installing roads, sidewalks, curbs, gutters, utilities, and parking facilities
in connection therewith. (5) Legal, accounting, publishing, printing,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-15.htm - 4K - Match Info - Similar pages
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