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9-14A-3
Section 9-14A-3 Definitions. Where used in this chapter the following words and terms shall
be given the following respective meanings unless the context hereof clearly indicates otherwise:
(a) AMENDMENT. Amendment 617 to the Constitution of Alabama of 1901, authorizing the issuance
of the bonds. (b) CORPORATION. The respective public corporations authorized to be created
by this chapter. (c) BOARD OF DIRECTORS. The respective board of directors of the corporations.
(d) BONDS. The bonds issued under the provisions of this chapter. (e) CODE. The Code of Alabama
1975, as amended. (f) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal
and interest constitute direct obligations of, or are unconditionally guaranteed by, the United
States of America, including obligations of any federal agency to the extent the obligations
are unconditionally guaranteed by the United States of America and any certificates or any
other evidences of an ownership interest in such...
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11-60-11
Section 11-60-11 Bonds - Security for payment of principal or interest; remedies upon default.
The principal of and interest on any bonds issued by the corporation shall be secured by a
pledge of the revenues and receipts out of which the same shall be made payable and may be
secured by mortgage or deed of trust covering all or any part of the projects from which the
revenues or receipts so pledged may be derived, including any enlargements of and additions
to any such projects thereafter made. The resolution under which the bonds are authorized
to be issued and any such mortgage or deed of trust may contain any agreements and provisions
respecting the maintenance of the projects covered thereby, the fixing and collection of fees,
rates, tolls and charges for the services, facilities and accommodations furnished by the
corporation and of the rents for any portions thereof leased by the corporation to others,
the creation and maintenance of special funds from such revenues and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-60-11.htm - 2K - Match Info - Similar pages
27-41-10
Section 27-41-10 Particular investments - Bonds, etc., issued by states, counties, municipalities,
etc., to provide funds for public projects, etc. An insurer may invest in bonds and other
evidences of indebtedness which are obligations of any state, county, city, town, village,
municipality, district, or other political subdivision of any state or of any instrumentality
or board thereof or of the United States of America issued to provide funds for public projects,
or for refunding of bonds issued for such purposes, which are revenue producing and self-supporting
if such obligations are secured by a lien on such revenues to pay principal and interest and
the issuing body is required to charge adequate rates for the services so provided to pay
all charges against the project, including principal and interest on all indebtedness outstanding
against the project. (Acts 1977, No. 408, p. 530, ยง10.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-10.htm - 1K - Match Info - Similar pages
41-10-144
Section 41-10-144 Bonds - Statutory mortgage lien to secure payment of principal and interest;
recording notice. Any resolution of the board or trust indenture under which bonds may be
issued pursuant to the provisions of this article 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 property and facilities, 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 property and facilities, or any part thereof,
may be located of a notice containing a brief description of such bonds and a declaration
that the said statutory mortgage lien has been created for the benefit of the holders of such
bonds and the interest coupons applicable thereto upon such property and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-144.htm - 1K - Match Info - Similar pages
11-20-39
Section 11-20-39 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued by the corporation shall be secured by a
pledge of the revenues and receipts out of which the same shall be made payable and may be
secured by a mortgage covering all or any part of the projects from which the revenues or
receipts so pledged may be derived, including any enlargements of and additions to any such
projects thereafter made. The resolution under which the bonds are authorized to be issued
and any such mortgage may contain any agreements and provisions respecting the maintenance
of the projects covered thereby, the fixing and collection of fees, rates, tolls and charges
for the services, facilities and accommodations furnished by the corporation and of the rents
for any portions thereof leased by the corporation to others, the creation and maintenance
of special funds from such revenues and the rights and remedies available in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-39.htm - 1K - Match Info - Similar pages
11-22-10
Section 11-22-10 Bond issues - Securing of principal and interest; mortgages and deeds of trust;
default. The principal of and interest on any bonds issued by the corporation shall be secured
by a pledge of the revenues and receipts out of which the same shall be made payable and may
be secured by mortgage or deed of trust covering all or any part of the projects from which
the revenues or receipts so pledged may be derived, including any enlargements of and additions
to any such projects thereafter made. The resolution under which the bonds are authorized
to be issued and any such mortgage or deed of trust may contain any agreements and provisions
respecting the maintenance of the projects covered thereby, the fixing and collection of fees,
rates, tolls and charges for the services, facilities and accommodations furnished by the
corporation and of the rents for any portion thereof leased by the corporation to others,
the creation and maintenance of special funds from such revenues and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-22-10.htm - 2K - Match Info - Similar pages
11-54-90
Section 11-54-90 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued by the industrial development board shall
be secured by a pledge of the revenues and receipts out of which the same shall be made payable
and may be secured by a mortgage or deed of trust covering all or any part of the projects
from which the revenues or receipts so pledged may be derived, including any enlargements
of and additions to any such projects thereafter made. The resolution under which the bonds
are authorized to be issued and any such mortgage or deed of trust may contain any agreements
and provisions respecting the maintenance of the projects covered thereby, the fixing and
collection of rents for any portions thereof leased by the board to others, the creation and
maintenance of special funds from such revenues and the rights and remedies available in the
event of default as the board of directors shall deem advisable not in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-90.htm - 2K - Match Info - Similar pages
11-56-20
Section 11-56-20 Authority and procedure for dissolution of corporations; vesting of title
to properties thereof in municipalities upon dissolution; formation of corporations not to
prevent subsequent formation of other corporations by same municipalities. (a) At any time
when the corporation does not have any bonds outstanding, the board may adopt a resolution
which shall be duly entered upon its minutes declaring that the corporation shall be dissolved.
Upon the filing for record of a certified copy of said resolution in the office of the judge
of probate of the county, the corporation shall thereupon stand dissolved, and, in the event
it owned any property at the time of its dissolution, the title to all its property shall
thereupon vest in the municipality. In the event the corporation shall at any time have outstanding
bonds issued under this chapter payable out of the revenues from different projects, then
as and when the principal of and the interest on all bonds payable in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-56-20.htm - 1K - Match Info - Similar pages
11-88-12
Section 11-88-12 Establishment and revision of rates, fees, and charges for services rendered
by authority; applicability of provisions of section to authority organized to construct and
operate sewer system. (a) Rates, fees, and charges for water service, sewer service, and fire
protection service rendered by the authority from any of its water systems, sewer systems,
or fire protection facilities shall be so fixed and from time to time revised as at all times
to provide funds at least sufficient to: (1) Pay the cost of operating, maintaining, repairing,
replacing, extending and improving the systems and facilities, or either, from which such
services are rendered; (2) Pay the principal of and the interest on all bonds issued and obligations
assumed by the authority that are payable out of the revenues derived from operation of those
systems and facilities as the said principal and interest become due and payable; (3) Create
and maintain such reserves for the foregoing purposes or any...
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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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