19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless otherwise authorized or directed by the court having jurisdiction thereof, or by the will, trust agreement or other document which is the source of authority, a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity, other than as a trustee governed by the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition to any other investments now permitted by law, may invest funds in securities or investments which, at the time of the making or purchase thereof, are included in one or more of the following classes: (1) Bonds or other interest-bearing obligations of the United States of America, or payment of which the United States of America has guaranteed as to both principal and interest. (2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States of America, designated as "the Federal Farm Loan...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-120.htm - 5K - Match Info - Similar pages
2-6-105
of its property and affairs. (5) To enter into agreements of any nature with any public or private entity regarding the construction, renovation, restoration, improvement, maintenance, management, or operation of the project or any properties or facilities constituting a part of the project. (6) To take all actions and enter into all agreements necessary or appropriate to complete the project work. (7) To acquire, purchase, lease, receive, hold, transmit, and convey title to real and personal property to or from any person or legal entity, public or private. (8) To borrow money and issue its bonds in evidence thereof, subject to this article. (9) As security for payment of the principal of and interest on its bonds, to pledge any funds or revenues from which its bonds may be made payable and to arrange for and provide additional security for its bonds, including letters of credit, bond insurance policies, surety bonds and the like, as the board of directors shall determine to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-105.htm - 2K - Match Info - Similar pages
33-15-6
loans, grants or other assistance from federal, state and local governments or from agencies of such governments, and make contracts and execute instruments containing such terms, provisions and conditions as the board in its discretion deems to be necessary, proper or advisable for the purpose of obtaining such loans, grants or other assistance. (3) LAND ACQUISITION. The authority may acquire by purchase, construction, lease, gift, condemnation or otherwise property of any kind, real, personal or mixed, or any interest therein, that the board deems necessary or convenient to the exercise of its powers or functions; provided, that acquisition by condemnation shall be limited to lands, rights in land, including leaseholds and easements, and water rights in the Bear Creek Watershed that the board determines to be necessary to the control and optimum development of Bear Creek and its tributaries, including such lands adjacent to or in the immediate vicinity of water control...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-15-6.htm - 9K - Match Info - Similar pages
45-49A-10.04
title to real property and riparian rights necessary, useful, or convenient in gaining access, entry, or approach to waterways, rivers, and streams, whether or not navigable and whether or not such easements, rights of way, streets, approaches, roads, interests in land, and riparian rights lead to property owned or controlled by the corporation. (7) To acquire, receive, take, and hold, whether by purchase, gift, lease, devise, or otherwise, property of every description, whether real, personal, or mixed, and to manage the same, and to develop any undeveloped property owned, leased, or controlled by it. (8) To execute such contracts or other instruments and to take such action as may be necessary or convenient to carry out the purpose of this article or the exercise of any authority or power granted hereunder. (9) To construct, acquire, establish, improve, extend, enlarge, reconstruct, equip, maintain, and repair buildings, structures, and facilities suitable for use in or on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-10.04.htm - 5K - Match Info - Similar pages
45-37-90.05
have the power: (1) To sue and be sued. (2) To acquire property and rights and interests in property by gift, lease, or purchase, or by the exercise of eminent domain. (3) To have a seal and alter the same at pleasure. (4) To appoint officers, agents, employees, and attorneys, and to fix their compensation. (5) To make bylaws for the management and regulation of its affairs. (6) To make contracts, and to execute all instruments necessary or convenient to lease or purchase and own real or personal property to be used for the furtherance of the purposes for the accomplishment of which the authority is created. (7) To arrange, sponsor, and conduct programs and exhibits in the civic center for the advancement of the cultural, civic, and scientific interests and welfare of the citizens of the county and of the municipalities thereof and for the advancement of the humanities. (8) To promote, sponsor, and operate in the civic center exhibitions and recreational activities. (9) To charge...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-90.05.htm - 10K - Match Info - Similar pages
45-49A-10.05
bonds. (a) The corporation shall have the power to borrow money and to issue revenue bonds as evidence of any money borrowed, which bonds shall be payable solely from the revenues derived from the activities and enterprises in which the corporation is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the corporation in its discretion may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the revenues derived from the activities or enterprises in which the corporation is hereby authorized to engage. (b) When the corporation deems it advisable, convenient, necessary, or expedient to issue such bonds, it shall so resolve and all the provisions of the resolution or mortgage and of such covenants and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-10.05.htm - 4K - Match Info - Similar pages
23-2-147
Section 23-2-147 Bonds; issuance; forms; procedures, etc. (a) The authority is hereby authorized to provide by resolution for the issuance of bonds of the authority for any of its corporate purposes, including the refunding of its bonds. The principal of and the interest on any issue of such bonds shall be payable solely from, and be secured by a pledge of, tolls and other revenues of all or any part of the toll road, bridge, or tunnel project financed in whole or in part with the proceeds of such issue or with the proceeds of bonds refunded or to be refunded by such issue. The proceeds of any such bonds may be used or pledged for the payment or security of the principal or of the interest on bonds, and for the establishment of any or all reserves for such payment or security, or for other corporate purposes as the authority may authorize in the resolution authorizing the issuance of bonds or in the trust agreement securing the same. (b) The bonds of each issue shall be dated; shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-147.htm - 5K - Match Info - Similar pages
11-62-7
suits and actions and to defend suits against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter, and repeal bylaws, regulations, and rules, not inconsistent with the provisions of this chapter, for the regulation and conduct of its affairs and business; (5) To acquire, whether by gift, purchase, transfer, foreclosure, lease, or otherwise, and to expand, improve, maintain, equip, and furnish one or more facilities, including all real and personal properties that its board may deem necessary in connection therewith, regardless of whether or not any such facility shall then be in existence and, if in existence, regardless of whether or not any such facility is then owned or leased by any user to which such facility may subsequently be sold or leased by such authority; (6) To borrow money and to sell and issue bonds, notes, or other obligations as hereinafter provided for any corporate use or purpose; (7) To lease to a user or users...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-7.htm - 9K - Match Info - Similar pages
45-17-91.23
authorized by law to do so, expend any moneys so appropriated to it out of the Shoals Economic Development Fund without any further consent or other action on the part of the committee. (c) Subject to succeeding provisions of this subpart, including particularly, but without limitation, those provisions hereof respecting the investment of moneys held in and forming a part of the Shoals Economic Development Fund, and the management, use, and disposition of other properties, whether real or personal, tangible or intangible, contributed to such fund, all moneys held in and forming a part of the Shoals Economic Development Fund, whether such moneys may be characterized as either principal or income of such fund, may be expended or appropriated, and all other properties contributed to such fund may be used, only for the following purposes: (1) To induce the location, within either of the counties or any city or town therein, of (i) new manufacturing, industrial, and research enterprises,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-17-91.23.htm - 8K - Match Info - Similar pages
45-36A-102
to Section 22-20-5, as amended. Provided further that nothing in this section shall be construed so as to permit the city, or commission created pursuant to this section, to enter into the restaurant business. (4) The commission shall have the power and the authority in addition to all powers conferred on it by the general law: a. To purchase, sell, contract to purchase, contract to sell, own, encumber, lease, mortgage, acquire, and dispose of easements in any part of, and insure real and personal property of all kinds and descriptions. b. To request, solicit, and accept gifts, donations, pledges, fees, bequests, devises, loans, or appropriations of any kind and from any source whatever. c. To set up at such lawful depository or depositories in the city as it may select, a revolving fund for historic development which shall be composed of the monies which may come into its hands from any source whatsoever and which shall be used for the furtherance of the objectives and purposes of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-36A-102.htm - 7K - Match Info - Similar pages
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