41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations. The authority is authorized and empowered to issue its project obligations from time to time for the purpose of financing one or more projects in such aggregate principal amount as the board of directors shall determine to be necessary to provide for all or a portion of the project costs of the project or projects being financed and to pay the expenses of issuing the project obligations. (b) Source of payment. All project obligations issued by the authority shall be limited obligations of the authority payable solely from any combination of the following: (1) The revenues and receipts of the authority derived from the financing agreement or agreements entered into by the authority with respect to the project or projects financed by such project obligations; (2) the income or proceeds realized by the authority under any mortgage or other security granted to the authority; (3) amounts derived from any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.6.htm - 7K - Match Info - Similar pages
41-10-468
Section 41-10-468 Use of proceeds from sale of bonds. All proceeds derived from the sale of any bonds (except refunding bonds) sold by the authority remaining after payment of the expenses of issuance thereof and the funding of any required reserve or replacement fund shall be turned over to the State Treasurer, shall be carried by the State Treasurer in a special account to the credit of the authority, and shall be subject to be drawn on by the authority solely for the purposes of constructing, renovating, reconstructing, improving, altering, adding to, demolishing, and equipping one or more public office buildings (including the State Capitol), surfacing and resurfacing of land for parking and other uses to produce revenue, and all reasonable and necessary expenses incidental thereto, including interest which shall accrue on said bonds during the construction, renovation, reconstruction, improvement, alteration, addition, demolition, and equipping of said buildings, surfacing and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-468.htm - 2K - Match Info - Similar pages
11-92C-9
Section 11-92C-9 Bonds of authority. (a) Source of payment. All bonds issued by an authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the board of its projects, or from any other source as may be designated in the proceedings of the board under which the bonds are authorized to be issued. (b) Pledge of revenues, receipts, and other security. The principal and interest on any bonds issued by an authority shall be secured by a pledge of the revenues and receipts out of which the principal and interest may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying as security for the bonds all or any part of the property of the authority from which the revenues or receipts so pledged may be derived. (c) Resolutions. The resolution under which the bonds of an authority are authorized to be issued and any mortgage and deed of trust or trust indenture may contain any agreements and provisions respecting the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-9.htm - 7K - Match Info - Similar pages
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
16-17A-10
Section 16-17A-10 Indebtedness. (a) An authority from time to time may borrow money or incur indebtedness and issue bonds, notes, or other evidence of indebtedness in such principal amounts as the board determines by resolution to be necessary, desirable, and in the best interests of the authority in order to provide funds to carry out its corporate powers. Indebtedness may be incurred for any lawful purpose of the authority, including, without limitation, any of the following: (1) Indebtedness to finance the acquisition or construction of health care facilities. (2) Indebtedness to provide working capital or funds for operating expenses. (3) Indebtedness to refund, extend, refinance, or restructure any indebtedness of the authority or any indebtedness assumed or guaranteed by the authority. (b) Indebtedness may be any of the following or any combination thereof: (1) A general obligation of the authority to the payment of which its full faith and credit is pledged. (2) Payable solely...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17A-10.htm - 3K - Match Info - Similar pages
45-41A-10.09
Section 45-41A-10.09 Boards of the authority. (a) All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the board of its projects or of any thereof as may be designated in the proceedings of the board under which the bonds shall be authorized to be issued. (b)(1) The principal of and interest on any bonds issued by the authority 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 bonds all or any part of the property of the authority from which the revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are authorized to be issued and any such mortgage and deed of trust or trust indenture may contain any agreements and provisions respecting the operation, maintenance, and insurance of the property covered by the mortgage and deed of trust...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-41A-10.09.htm - 5K - Match Info - Similar pages
22-3A-16
Section 22-3A-16 Appropriation made; Debt Service Reserve Fund established. (a) For the purpose of providing funds to enable the authority to pay on their respective due dates the principal of and the interest and premium (if any) on any bonds issued by it under the provisions of this chapter and to accomplish the objects of this chapter, there is hereby irrevocably pledged to such purpose and there is hereby appropriated so much as may be necessary for such purpose of the receipts from the incremental and additional excise taxes or fees levied on the disposal of hazardous waste or hazardous substances by the provisions of (i) the act resulting from the enactment of House Bill 310 introduced at the 1990 Regular Session of the Alabama Legislature (whether such bill is enacted before or after this chapter) or (ii) any other statute, now or hereafter enacted, which appropriates or pledges such a tax or fee for the payment of the principal of and the interest and premium (if any) on bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-16.htm - 2K - Match Info - Similar pages
24-1-32
Section 24-1-32 Form, denominations, terms, etc., of bonds; sale of bonds; issuance of interim certificates, etc. The bonds of the authority shall be authorized by its resolution and shall be issued in one or more series and shall bear such date or dates, mature at such time or times, not exceeding 60 years from their respective dates, bear interest at such rate or rates, per annum payable at the time or times, be in such denominations, which may be made interchangeable, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such place or places, and be subject to such terms of redemption, with or without premium, as such resolution or its trust indenture or mortgage may provide. The bonds shall be sold by public or private sale as determined by the authority. Any public sale of bonds shall be conducted after notice published, at least 10 days prior to the sale in a newspaper published in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-32.htm - 3K - Match Info - Similar pages
45-23A-91.09
Section 45-23A-91.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the board of its projects or of any thereof as may be designated in the proceedings of the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues, receipts, and other security. (1) The principal of and interest on any bonds issued by the authority 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 bonds all or any part of the property of the authority from which the revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are authorized to be issued and any such mortgage and deed of trust or trust indenture may contain any agreements and provisions respecting the operation, maintenance, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-23A-91.09.htm - 5K - Match Info - Similar pages
45-35A-52.09
Section 45-35A-52.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the board of its projects or of any thereof as may be designated in the proceedings of the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues, receipts and other security. (1) The principal of and interest on any bonds issued by the authority 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 bonds all or any part of the property of the authority from which the revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are authorized to be issued and any such mortgage and deed of trust or trust indenture may contain any agreements and provisions respecting the operation, maintenance, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-35A-52.09.htm - 5K - Match Info - Similar pages
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