41-10-145
Section 41-10-145 Bonds - Use of proceeds from sale. All moneys derived from the sale of any bonds issued by an authority shall be used solely for the purpose or purposes for which the same are authorized and any costs and expenses incidental thereto. Such costs and expenses may include, but shall not be limited to: (1) The fiscal, engineering, architectural, legal and other expenses incurred in connection with the issuance and sale of the bonds; (2) In the case of bonds issued to pay costs of construction, building, acquisition, restoration, renovation or improvement of property of the authority, interest on such bonds (or, if a part only of bonds of any series is issued for such purposes, interest on that portion of the bonds of that series that is issued to pay such costs) prior to and during such construction, building, acquisition, restoration, renovation or improvement of property of the authority; and (3) In the case of bonds issued for the purpose of refunding principal and...
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45-49A-64.12
Section 45-49A-64.12 Proceeds from sale of bonds. All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized and any costs and expenses incidental thereto. Such costs and expenses may include, but shall not be limited to, all of the following: (1) The fiscal, engineering, legal, and other expenses incurred in connection with the issuance of the bonds. (2) In the case of bonds issued to pay costs of acquiring or constructing all or any part of a transit system interest on such bonds (or, if a part only of any series of bonds is issued for acquisition or construction purposes, interest on that portion of the bonds of that series that is issued to pay such acquisition or construction costs) prior to and during such acquisition or construction and for not exceeding one year after completion of such acquisition or construction. (3) In the case of bonds issued for the purpose of refunding principal...
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9-6-12
Section 9-6-12 Bonds - Use of proceeds from sale. All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized and any costs and expenses incidental thereto. Such costs and expenses may include, but shall not be limited to: (1) The fiscal, engineering, legal and other expenses incurred in connection with the issuance and sale of the bonds; (2) In the case of bonds issued to pay costs of construction, interest on such bonds (or, if a part only of bonds of any series is issued for construction purposes, interest on that portion of the bonds of that series that is issued to pay construction costs) prior to and during such construction; and (3) In the case of bonds issued for the purpose of refunding principal and interest or either with respect to bonds issued or obligations assumed by the authority, any premium that it may be necessary to pay in order to redeem or retire the bonds or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-6-12.htm - 1K - Match Info - Similar pages
11-94-13
Section 11-94-13 Bonds of authority - Application of proceeds. The proceeds derived from the sale of any bonds shall be applied as provided in the proceedings in which the bonds are authorized to be issued, including without limitation, the payment of all legal, fiscal and recording fees and expenses incurred in connection with the authorization, sale and issuance of the bonds and if so provided in the proceedings authorizing their issuance, interest on said bonds (or, if a part only of any issue of bonds is issued for acquisition purposes, interest on that portion of the bonds of that issue that is issued to pay acquisition costs) for a reasonable period prior to and during the time required for the acquisition, construction and equipping of the project and for a period not exceeding 18 months after the completion thereof. An authority may provide in the proceedings authorizing the issuance of bonds for the capitalization of a debt service reserve and/or a replacement and extension...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-94-13.htm - 1K - Match Info - Similar pages
45-46-90.11
Section 45-46-90.11 Proceeds from the sale of bonds. All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized and any costs and expenses incidental thereto; provided, however, site preparation grants for industrial development shall not be included as a part of such costs and expenses. Such costs and expenses may include, but shall not be limited to, all of the following: (1) The fiscal, engineering, legal, and other expenses incurred in connection with the issuance of the bonds. (2) In the case of bonds issued to pay costs of acquiring or constructing all or any part of any facility, interest on such bonds (or if a part only of any series of bonds is issued for acquisition or construction purposes, interest on that portion of the bonds of the series that is issued to pay such acquisition or construction costs) prior to and during such acquisition or construction and for not exceeding one...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-46-90.11.htm - 1K - Match Info - Similar pages
11-22-9
Section 11-22-9 Bond issues - Funds for payment; execution; form; redemption; sale; refunding; negotiable instruments. (a) All bonds issued by the corporation shall be payable solely out of the revenues and receipts derived from the operation, leasing or sale by the corporation of its projects or of any thereof as may be designated in the proceedings of the board of directors under which the bonds shall be authorized to be issued. (b) Such bonds may be executed and delivered by the corporation at any time and from time to time, may be in such form and denominations and of such tenor and maturities, may be in registered or bearer form either as to principal or interest or both, may be payable at such time or times not exceeding 40 years from the date thereof, may be payable at such place or places whether within or without the State of Alabama, may bear interest at such rate or rates payable at such time or times and at such place or places and evidenced in such manner, may be executed...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-22-9.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
2-3A-54
Section 2-3A-54 Expenses; disposition of proceeds. Upon order of the board of directors of said authority, all expenses incurred in connection with the authorization, preparation, sale, and issuance of bonds authorized herein and by Amendment 619 shall be paid out of the proceeds thereof. The proceeds thereof remaining after payment of such expenses, together with the income derived from the investment and reinvestment of such proceeds (including income derived from the investment and reinvestment of previously derived income) shall be disbursed from time to time on the order of said authority for payment of costs incurred in carrying out the purposes authorized in said amendment, as follows: The sum of five million seven hundred thousand dollars ($5,700,000) shall be used for the purpose of providing and the equipping of a center for cotton, cotton products technology, and for its use as an educational, applied research, and promotional facility in the field of textile and apparel...
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11-58-9
Section 11-58-9 Bonds - Disposition of proceeds from sale. (a) The proceeds from the sale of any bonds issued by a corporation organized under authority of this chapter shall be applied only for the purpose for which the bonds were issued; provided, however, that any accrued interest and premium received in any such sale shall be applied to the payment of the principal of or the interest on the bonds sold; provided further, that if for any reason any portion of such proceeds shall not be needed for the purpose for which the bonds were issued, then such unneeded portion of said proceeds shall be applied to the payment of the principal of or the interest on said bonds. (b) The cost of acquiring any medical clinic, which shall be paid from the proceeds derived from the sale of bonds, shall be deemed to include the following: (1) The actual cost of the construction of any part of a building which may be constructed, including architect's and engineer's fees; (2) The purchase price of any...
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16-16-14
Section 16-16-14 Use of bond proceeds for loans to local boards of education. The proceeds derived from the sale of any bonds issued pursuant to subsection (b) of Section 3 of Act 98-373 shall be deposited in the State Treasury and shall be carried in a separate fund therein for the account of the authority, which shall pay therefrom the expenses of issuance thereof. The proceeds from the sale of the bonds remaining after payment of the expenses of issuance thereof shall be retained in such fund and, until they are paid out, shall be invested by the State Treasurer at the direction of the authority in permitted investments which mature at such time or times as the authority shall direct. Monies in the fund (whether original proceeds from the sale of the bonds or principal proceeds of matured permitted investments) shall be available for loan by the authority. The authority is hereby authorized to loan, and each local board of education is hereby authorized to borrow, such monies under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16-14.htm - 3K - Match Info - Similar pages
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