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11-95-10
Section 11-95-10 Refunding bonds. Any bonds issued by a corporation may from time to
time be refunded by the issuance, by sale or exchange, of refunding bonds payable from the
same or different designated revenues for the purpose of paying all or any part of the principal
of the bonds to be refunded, any redemption premium required to be paid as a condition to
the redemption prior to maturity of any such bonds that are to be so redeemed in connection
with such refunding, any accrued and unpaid interest on the bonds to be refunded, any interest
to accrue on each bond to be refunded to the date on which it is to be paid, whether at maturity
or by redemption prior to maturity, and the expenses incurred in connection with such refunding;
provided, that unless duly called for redemption pursuant to provisions contained therein,
the holders of any such bonds then outstanding and proposed to be refunded shall not be compelled
without their consent to surrender their outstanding bonds for such...
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14-2-10
Section 14-2-10 Temporary loans in anticipation of issuance of bonds. In anticipation
of issuance of bonds under this chapter, the authority may, from time to time, borrow such
sums as may be needed, not exceeding $1,000,000.00 in aggregate principal amount, for any
of the purposes for which bonds are authorized to be issued under this chapter and in evidence
of the moneys so borrowed may issue its promissory notes. The authorized principal amount
of notes that may be issued under this section shall be reduced to the extent that
bonds may be issued under this chapter. The principal of and the interest on notes so issued
may, from time to time, be refunded by refunding notes or by bonds in anticipation of the
issuance of which such notes were issued. All such notes, whether initial issues or refunding
issues, may bear interest from their dates until their maturities at such rate or rates as
may be deemed acceptable by the board of directors, not to exceed 10 percent per annum, shall...
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16-16B-10
Section 16-16B-10 (Implementation Conditioned on Separate Legislative Enactment.) Disposition
of funds. Notwithstanding any of the foregoing and in addition to all powers heretofore granted
to the Authority, the Authority is hereby expressly authorized to use the proceeds derived
from the sale of Bonds and income on Permitted Investments in accordance with the provisions
of this chapter. The Authority is hereby expressly permitted to pay to the Department of Finance
and the State Treasurer's Office, from time to time and from any funds available to the Authority,
amounts to offset costs incurred in the administration of the business of the Authority. The
cost of such compensation shall be prorated among the recipients of proceeds of the Bonds
in the same manner as the expenses of issuance of the Bonds are required hereby to be prorated.
(Act 2012-560, p. 1645, ยง10.)...
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16-16B-9
Section 16-16B-9 (Implementation Conditioned on Separate Legislative Enactment.) Use
of bond proceeds. (a) The proceeds derived from each sale of the Bonds issued pursuant to
this chapter 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 the expenses of issuance therefrom.
The expenses of issuance of the Bonds shall be prorated among the recipients of the proceeds
from the sale of the Bonds in proportions they receive allocations of the proceeds thereunder.
The proceeds from the sale of the Bonds remaining after payment of the expenses of issuance
thereof shall be retained in said fund and, until they are paid out, shall be invested by
the State Treasurer at the direction of the Authority in Permitted Investments maturing at
such time or times as the Authority shall direct. (b) Proceeds from the sale of the Bonds
and the earnings thereon shall be paid out from time to time on orders or warrants...
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41-10-308
Section 41-10-308 Temporary loans in anticipation of issuance of bonds. In anticipation
of issuance of bonds under this article, the authority may, from time to time, borrow such
sums as may be needed for any of the purposes for which bonds are authorized to be issued
under this article, and in evidence of the moneys so borrowed may issue its promissory notes.
The principal of and the interest on notes so issued may, from time to time, be refunded by
refunding notes or by bonds in anticipation of the issuance of which such notes were issued.
All such notes, whether initial issues or refunding issues, may bear interest from their dates
until their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
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41-10-498
Section 41-10-498 Temporary loans in anticipation of issuance of bonds. In anticipation
of issuance of bonds under this article, the authority may, from time to time, borrow such
sums as may be needed for any of the purposes for which bonds are authorized to be issued
under this article, and in evidence of the moneys so borrowed by issue of its promissory notes.
The principal of and the interest on notes so issued may, from time to time, be refunded by
refunding notes or by bonds in anticipation of the issuance of which such notes were issued.
All such notes, whether initial issues or refunding issues, may bear interest from their dates
until their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-498.htm - 1K - Match Info - Similar pages
11-94-12
Section 11-94-12 Bonds of authority - Indenture; lien; remedies of bondholders. In the
discretion of its board, any bonds issued by an authority may be secured by an indenture between
an authority and a trustee, which may be any trust company or bank having trust powers, whether
such bank or trust company is located within or without the state. In any such indenture or
resolution providing for the issuance of bonds an authority may pledge, for payment of the
principal of and the interest on such bonds, any of its revenues to which its right then exists
or may thereafter come into existence and may assign, as security for such payment, any of
its leases, franchises, permits and contracts; and in any such indenture, an authority may
mortgage any of its properties, including any that may be thereafter acquired by it, and may
provide that in the event of a default in payment of the bonds secured thereby or in the event
of default with respect to any agreement contained therein, such...
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41-10-44.11
Section 41-10-44.11 Publication of notice; time limitation on actions questioning bonds
or proceedings. Upon the adoption by the board of directors of the authority of any resolution
providing for the issuance of project obligations, the authority may, in its discretion, cause
to be published once a week for two consecutive weeks, in newspapers published or having a
general circulation in the Cities of Birmingham, Montgomery, Huntsville and Mobile, a notice
in substantially the following form (the blanks being properly filled in) at the end of which
shall be printed the name and title of either the president or the secretary of the authority:
"The State Industrial Development Authority, a public corporation under the laws of the
State of Alabama, on the ______ day of ___, authorized the issuance of $___ principal amount
of bonds or other obligations of the said public corporation for purposes authorized in Title
41, Chapter 10, Article 2A. The proceeds from the sale of the said...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.11.htm - 2K - Match Info - Similar pages
37-7-13
Section 37-7-13 Bonds or obligations - Manner of sale or issuance. A corporation formed
under this chapter shall have power and is authorized, from time to time, to issue its obligation
in anticipation of its revenues for any corporate purpose. Said obligations may be authorized
by resolution or resolutions of the board and may bear such date or dates, mature at such
time or times, not exceeding 40 years from their respective dates, bear interest at such rate
or rates not exceeding six percent per annum, payable semiannually, be in such denominations,
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, not exceeding par and accrued interest, as such resolution or
resolutions may provide. Such obligations may be sold in such manner and upon such terms as
the board may determine at not less than par and accrued interest. Any...
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9-14A-9
Section 9-14A-9 Bonds - Generally. The bonds issued pursuant to this act shall not be
obligations of said corporations but shall be general obligations of the state with the full
faith and credit and taxing power of the state to be pledged to the prompt and faithful payment
of the principal thereof and the interest and redemption premium (if any) thereon. The proceeds
from the sale of the bonds shall be used exclusively for the purposes described in the aforesaid
constitutional amendment. The bonds may be sold and issued in one or more series at any time
and from time to time, may have such series designations, may be in such forms, principal
amounts, denominations and numbers, may be of such tenor and maturities, may bear such date
or dates, may be payable in such installments and at such time or times, may be payable at
such place or places within or without the state, may bear interest at such rate or rates
payable and evidenced in such manner, may contain provisions for redemption...
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