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2-3A-8
Section 2-3A-8 Bonds of the authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and other receipts of the authority as may be
designated in the proceedings of the board under which the bonds shall be authorized to be
issued. (b) Pledge of revenues and other security. The principal of and interest on any bonds
issued by the authority shall be secured by a pledge of the revenues and other receipts out
of which the same may be payable and may be secured by a trust indenture evidencing such pledge
or by a foreclosable mortgage and deed of trust conveying as security for such bonds all or
any part of the property of the authority from which the revenues so pledged may be derived.
The resolution under which the bonds are authorized to be issued or any such trust indenture
or mortgage may contain any agreements and provisions respecting the maintenance and insurance
of the property covered by such trust indenture or mortgage, the use...
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22-23B-7
Section 22-23B-7 Purpose; issuing, selling and refunding of bonds. For the purpose of providing
funds for the authority to make loans to public bodies for a project or projects, or for the
payment of obligations incurred or temporary loans made for any of said purposes, the authority
is hereby authorized, from time to time, to issue and sell its bonds or other evidences of
indebtedness. Such bonds may be issued in one or more series; shall be in such form and denominations
and of such terms and maturities, not exceeding 30 years from the date of issue of each series;
shall bear such rate or rates of interest, payable and evidenced in such manner; may contain
such provisions for registration or for redemption prior to maturity; and may contain such
other provisions not inconsistent herewith, all as may be provided by the authorizing resolution.
As security for the payment of the principal of and interest on its bonds, the authority is
authorized to pledge, transfer and assign any...
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40-9-1
Section 40-9-1 Persons and property generally. The following property and persons shall be
exempt from ad valorem taxation and none other: (1) All bonds of the United States and this
state and all county and municipal bonds issued by counties and municipalities in this state,
all property, real and personal, of the United States and this state and of county and municipal
corporations in this state; all cemeteries, all property, real and personal, used exclusively
for religious worship, for schools or for purposes purely charitable; provided, that property,
real or personal, owned by any educational, religious or charitable institution, society or
corporation let for rent or hire or for use for business purposes shall not be exempt from
taxation, notwithstanding that the income from such property shall be used exclusively for
education, religious or charitable purposes; all mortgages, together with the notes, debts
and credits secured thereby on real and personal property situated in...
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9-14A-14
Section 9-14A-14 Bonds - Proceeds - Alabama Public Historical Sites and Parks Improvement Fund.
The proceeds derived from the sale of each series of the bonds issued pursuant to this chapter
by the Alabama Public Historical Sites and Parks Improvement Corporation other than refunding
bonds shall be paid into the State Treasury upon receipt thereof, and the State Treasurer,
on the advice of the officers of the corporation, shall keep such proceeds, as well as all
income received from the investment and reinvestment of such proceeds (including income derived
from the investment and reinvestment of previously derived income), in a special fund in the
State Treasury, designated "The Alabama Public Historical Sites and Parks Improvement
Fund," pending the expenditure of such proceeds and income for the purposes hereinafter
authorized and as required by said amendment. All proceeds so deposited in the State Treasury
shall be continuously invested by the State Treasurer, on the advice of the...
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14-2-26
Section 14-2-26 Kilby property - Sale or lease by authority. (a) The authority shall have the
power to sell, convey and lease all or any part of the Kilby property and, as an aid to such
sale or lease, to cause to be prepared by competent real estate experts a land use map and
plan. No such sale or lease shall be made, however, except at public offering, on sealed bids
or at auction, and upon such published notice as the authority shall determine to be necessary
or desirable in order to attract the greatest interest from prospective bidders. Notice of
any public sale or lease shall, in any event, be given by publication in at least three newspapers
of general circulation published in the state at least three times, the first notice to be
published not less than 60 days before the date of such public offering, the second notice
to be published not less than 30 days nor more than 40 days before such public offering and
the third notice to be published not less than 10 days nor more than...
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23-1-157
Section 23-1-157 Bonds - Generally. (a) The bonds of the corporation shall be signed by its
president or vice president and attested by its secretary; provided, that a facsimile of the
signature of the officers may be imprinted or otherwise reproduced on any such bonds in lieu
of his or her signing the same. The seal of the corporation shall be affixed to such bonds;
provided, that a facsimile of the seal may be imprinted or otherwise reproduced on any such
bonds in lieu of being manually affixed thereon. (b) Any bonds of the corporation may be executed
and delivered at any time and from time to time, shall be in such form and denominations and
of such tenor and maturities, shall bear such rate or rates of interest payable and evidenced
in such manner, may contain provisions for redemption prior to maturity and may contain other
provisions not inconsistent with this article, all as may be provided by the resolution of
the board of directors whereunder such bonds are authorized to be...
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27-15-28.1
Section 27-15-28.1 Standard nonforfeiture law for individual deferred annuities - Annuity contracts
issued by election under this section until June 30, 2006. (a) This section shall be known
as the standard nonforfeiture law for individual deferred annuities. (b) This section shall
not apply to any reinsurance group annuity purchased under a retirement plan or plan of deferred
compensation established or maintained by an employer (including a partnership or sole proprietorship)
or by an employee organization, or by both, other than a plan providing individual retirement
accounts or individual retirement annuities under Section 408 of the Internal Revenue Code,
as now or hereafter amended, premium deposit fund, variable annuity, investment annuity, immediate
annuity, any deferred annuity contract after annuity payments have commenced or reversionary
annuity, nor to any contract which shall be delivered outside this state through an agent
or other representative of the company issuing...
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33-2-190
Section 33-2-190 Docks facilities revenue bonds and refunding bonds - Defeasance. Any docks
facilities revenue bond or refunding bond issued pursuant to the provisions of this article
shall no longer be deemed to be outstanding, shall no longer be secured by the docks facilities
revenues that may have been pledged therefor, shall no longer constitute a limited obligation
of the department, and shall be secured solely by and payable solely from moneys and government
securities deposited in trust with one or more trustees or escrow agents as provided herein,
whenever there shall be deposited in trust with one or more trustees or escrow agents, as
provided herein, either moneys or government securities the principal of and interest on which
when due will provide moneys which, together with the moneys, if any, deposited with one or
more trustees or escrow agents, at the same time, shall be sufficient to pay when due the
principal of, premium, if any, and interest due and to become due on...
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40-11-1
Section 40-11-1 Enumeration of subjects of taxation. (a) As used in this section the following
terms shall have the meanings ascribed herein: (1) CONSTRUCTION PURPOSES. The normal and ordinary
meaning of the words, except that mining activities or the transportation of materials used
in or produced by mining or forestry activities shall not be construed to be included; (2)
HEAVY DUTY EQUIPMENT. Any motor vehicle used primarily off the open road for construction
purposes, including all road construction equipment whose gross weight exceeds 16,000 pounds,
but not including inventory on hand for sale by duly licensed equipment dealers. (b) The subjects
of ad valorem taxation, except as exempted by law, shall be as follows: (1) Every piece, parcel,
tract, or lot of land in this state, including therein all things pertaining to such land,
and all structures and other things so annexed or attached thereto as to pass to a vendee
by conveyance of such land; and every separate or special...
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41-10-541
Section 41-10-541 Definitions. (a) The following words and phrases used in this division, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPROPRIATED
FUNDS. Net TVA payments to the extent such payments are pledged and appropriated to the authority
pursuant to Section 41-10-550. (2) AUTHORITY. The public corporation organized pursuant to
this division. (3) AUTHORITY GUARANTY. An agreement of the authority pursuant to which the
payment of debt service referable to bonds, notes, or other evidences of indebtedness of a
development agency is guaranteed by the authority. (4) AUTHORITY OBLIGATIONS. Bonds of the
authority and authority guaranties. (5) AUTHORITY-GUARANTEED OBLIGATIONS. Bonds, notes, or
other evidences of indebtedness of a development agency that are issued solely for the purpose
in financing a project and that are guaranteed, in whole or in part,...
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