40-7-98
Section 40-7-98 Payment of pro rata shares of principal of and interest on warrants. The principal
of and interest on the warrants issued under the provisions of this division are hereby declared
to be lawful costs of the equalization program referred to in Division 1 of this article and
to be lawful and necessary governmental costs of the assessment and collection of ad valorem
taxes levied in the county issuing said warrants required by law to be paid as part of the
current governmental operating expenses of each tax recipient body receiving proceeds from
ad valorem taxation in said county. The principal and interest shall be paid pro rata by each
such tax recipient of such county and by the State of Alabama in the proportions which the
amount of ad valorem tax received by each tax recipient body, including the State of Alabama,
bears to the total amount of ad valorem tax received by all. For that purpose, the tax collector
of each county issuing warrants under this division is...
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11-15-9
Section 11-15-9 Warrants - Authority for issuance; form, terms, denominations, redemption,
etc.; sale. The corporation is authorized to issue its interest-bearing revenue warrants for
the purpose of acquiring, constructing, improving, enlarging, completing and equipping one
or more projects. All warrants issued by the corporation shall be limited obligations of the
corporation, the principal of and interest on which shall be payable solely out of the revenues
derived from the projects with respect to which they are issued. None of the warrants of the
corporation shall ever constitute an obligation or debt of the state or of the county or a
charge against the credit or taxing powers of the state or the county. Warrants of the corporation
may be issued at any time and from time to time, may be in such form and denominations, may
be of such tenor, may be payable in such installments and at such time or times not exceeding
30 years from their date, may be payable at such place or places...
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33-16-12
Section 33-16-12 Bonds - Generally. There are hereby authorized to be issued bonds of the state
in aggregate principal amount not exceeding $10,000,000.00. The bonds hereby authorized shall
be general obligations of the state, and the full faith and credit of the state are hereby
irrevocably pledged for the prompt and faithful payment of the principal of and the interest
on the bonds. The bonds may be sold from time to time as the board of directors may deem advantageous;
provided, that no bonds (other than refunding bonds) may be sold or issued unless the Governor
shall have first determined that the issuance of the bonds proposed to be issued will be necessary
to enable the authority to fulfill the requirements of local contribution, participation and
cooperation established by the United States in connection with the waterway project. Except
as hereinafter limited, the bonds may be executed and delivered at any time and from time
to time, may be in such forms, denominations, series...
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33-17-12
Section 33-17-12 Bonds - Generally. There are hereby authorized to be issued bonds of the state
in aggregate principal amount not exceeding $10,000,000.00. The bonds hereby authorized shall
be general obligations of the state, and the full faith and credit of the state are hereby
irrevocably pledged for the prompt and faithful payment of the principal of and the interest
on the bonds. The bonds may be sold from time to time as the board of directors may deem advantageous;
provided, that no bonds (other than refunding bonds) may be sold or issued unless the Governor
shall have first determined that the issuance of the bonds proposed to be issued will be necessary
to enable the authority to fulfill the requirements of local contribution, participation and
cooperation established by the United States in connection with the waterway and the flood
control project. Except as hereinafter limited, the bonds may be executed and delivered at
any time and from time to time, may be in such forms,...
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11-11A-3
Section 11-11A-3 Issuance of refunding warrants. Any county in the state of Alabama may from
time to time authorize, sell and issue refunding warrants for the purpose of refunding any
outstanding warrants theretofore issued under the provisions of this chapter (whether or not
the principal of the outstanding warrants to be refunded shall have matured at the time of
the issuance of the refunding warrants). Refunding warrants may not, however, be issued in
a principal amount that will result in the principal proceeds to be derived by the issuing
county therefrom exceeding the sum of (a) the outstanding principal of the warrants being
refunded, (b) the interest thereon accrued to the date of issuance of such refunding warrants,
(c) the interest to accrue on such outstanding warrants to their respective maturities or
to the earliest date on which they may, under their terms, be redeemed (whichever is earlier),
(d) any premium necessary to redeem or retire the outstanding warrants being...
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11-15-14
Section 11-15-14 Refunding warrants. All or any warrants issued by the corporation may from
time to time thereafter be refunded by the issuance of refunding revenue warrants of the corporation,
but the amount of any refunding warrants so issued shall not exceed the principal of the warrants
refunded thereby together with any unpaid interest thereon and any premiums, commissions and
expenses necessary to be paid in connection with such refunding. Any such refunding may be
done regardless of whether the warrants to be refunded shall have then matured or shall thereafter
mature and may be effected either by sale of the refunding warrants and the application of
the proceeds thereof or by exchange of the refunding warrants for the warrants to be refunded
thereby; provided, that the holders of any warrants so to be refunded shall not be compelled
without their consent to surrender their warrants for payment or exchange prior to the date
on which they may be redeemed by the corporation under...
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16-13-303
Section 16-13-303 Notes not general obligations; source of payment. (a) Warrants issued under
this article shall not be general obligations of the board issuing such warrants but shall
be payable solely from the designated revenues or tax proceeds of the board which may be lawfully
applied to the payment of indebtedness of such board, including funds derived from any one
or more of the following sources: (1) The proceeds of any ad valorem tax or taxes levied for
the purpose of paying such warrants, or for educational or public school purposes, and paid,
apportioned, allocated, or distributed to or for the benefit of the board. (2) The proceeds
of any privilege, license, or excise tax or taxes that may be paid, apportioned, allocated,
or distributed to or for the benefit of the board. (3) Any revenues of whatsoever kind or
nature (including, without limitation, payments pursuant to agreements delivered pursuant
to this article and payments in lieu of taxes) that may be paid,...
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16-13-97
Section 16-13-97 Sale - Price. Warrants issued hereunder may be sold at such price or prices
as the issuing board of education may deem advisable; provided, that no series of warrants
issued hereunder shall be sold at a price resulting in an average annual net interest cost
to the issuing board greater than eight percent computed from the date of the warrants to
their respective maturities and taking into account any premium or discount reflected in the
sale price. (Acts 1939, No. 186, p. 334, §9; Code 1940, T. 52, §224; Acts 1969, No. 593,
p. 1080, §3.)...
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36-17-8
Section 36-17-8 Procedure for drawing money for payment of interest. (a) Not less than 15 nor
more than 30 days before the due date of principal and interest on each of the respective
issues of bonded indebtedness, the Treasurer must certify to the Comptroller the amount of
money needed to pay the principal and interest falling due on that date, and for any expenses
necessarily incurred by the fiscal agent in the discharge of its duties. The Comptroller shall
draw his warrant on the treasury in favor of the Treasurer for such amount to be paid out
of any fund appropriated for the payment of principal and interest and expenses. (b) Not more
than 15 business days before the actual due date of principal and interest, the Treasurer
shall remit to the fiscal agent, by wire transfer or draft, the total amount of principal,
interest, and expenses of the fiscal agent, due on said bond. (c) For the purpose of paying
principal and interest on any issues of funded indebtedness, the Treasurer with...
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11-9-24
Section 11-9-24 Issuance of refunding warrants. Each such county may in like manner from time
to time issue refunding warrants, either by sale or by exchange, for the purpose of refunding
a like or greater principal amount of warrants then outstanding which were issued under the
provisions of this article and the interest thereon and paying any premium necessary to be
paid to retire the outstanding warrants refunded thereby. The provisions of this article applicable
to the warrants so refunded shall likewise be applicable to such refunding warrants. (Acts
1973, No. 1128, p. 1901, §5.)...
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