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33-16-13
Section 33-16-13 Bonds - Disposition of proceeds; investments. The authority shall pay out
of the proceeds from the sale of any of the bonds all expenses which the board of directors
may deem necessary or advantageous in connection with the sale and issuance of the bonds.
The proceeds from the sale of all bonds, other than refunding bonds, remaining after paying
the expenses of their sale and issuance shall be turned in to the State Treasury, shall be
carried in a special fund to be designated the Coosa Valley Development Authority fund, and
shall be subject to be drawn on by the authority, upon approval by the Governor, but solely
for the purpose of discharging the duties and obligations undertaken by the authority in connection
with the waterway project. The proceeds from the sale of any refunding bonds remaining after
the expense of their issuance shall be used only for the purpose of refunding the principal
of outstanding bonds issued hereunder and of paying any premium that may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-16-13.htm - 2K - Match Info - Similar pages
33-17-13
Section 33-17-13 Bonds - Disposition of proceeds; investments. The authority shall pay out
of the proceeds from the sale of any of the bonds all expenses which the board of directors
may deem necessary or advantageous in connection with the sale and issuance of the bonds.
The proceeds from the sale of all bonds, other than refunding bonds, remaining after paying
the expenses of their sale and issuance shall be turned in to the state treasury, shall be
carried in a special fund to be designated the Tombigbee Valley Development Authority Fund,
and shall be subject to be drawn on by the authority, upon approval by the Governor, but solely
for the purpose of discharging the duties and obligations undertaken by the authority in connection
with the waterway and the flood control project. The proceeds from the sale of any refunding
bonds remaining after the expense of their issuance shall be used only for the purpose of
refunding the principal of outstanding bonds issued hereunder and of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-17-13.htm - 2K - Match Info - Similar pages
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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16B-10.htm - 1K - Match Info - Similar pages
16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized and empowered
to issue its bonds from time to time for the purpose of making equipment loans to finance
equipment costs incurred or to be incurred by educational institutions. Such bonds may be
in such aggregate principal amount as the board of directors shall determine to be necessary
to pay the equipment costs included in such financing. The authority may pay from the proceeds
of the sale of its bonds all expenses, including publication and printing charges, attorneys'
fees, financial advisory fees, and other expenses which the board of directors may deem necessary
or advantageous in connection with the authorization, advertisement, sale, execution, and
issuance of its bonds or the making of equipment loans from the proceeds thereof. (b) Source
of payment. All bonds issued by the authority shall be limited obligations of the authority
payable solely from any combination of the following: (1) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-6.htm - 7K - Match Info - Similar pages
24-1A-7
Section 24-1A-7 Proceeds from sale of bonds; use; issuance procedures; distribution percentages;
allocation of proceeds available for single family mortgage loans. (a) All moneys derived
from the sale of any bonds issued by the authority shall be used solely for the purpose or
purposes for which the same are authorized, including costs and expenses of issue. Such costs
and expenses may include but shall not be limited to: (1) The fiscal, legal and other expenses
incurred in connection with the issuance of the bonds; and (2) Except in the case of refunding
bonds, interest to accrue on such bonds for a period ending not later than two years from
their date. (b) Bonds shall be issued in series, each of which shall be separately designated
in the proceedings authorizing their issuance. The board of directors in the proceedings authorizing
a series of bonds (other than refunding bonds) shall specify the purposes for which the proceeds
of such series shall be used. The proceeds of a series...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-7.htm - 5K - Match Info - Similar pages
41-10-462
Section 41-10-462 Bonds of authority. Any bonds of the authority may be executed and delivered
by it 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 herewith, all as may be provided by the resolution of the board
of directors whereunder such bonds are authorized to be issued; provided, that no bond of
the authority shall have a specified maturity date later than 30 years after its date. Each
bond of the authority having a specified maturity date more than 10 years after its date shall
be made subject to redemption at the option of the authority at the end of the 10th year after
its date, and on any interest payment date thereafter, under such terms and conditions and
at such premiums, if any, as may be provided in the resolution under which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-462.htm - 2K - Match Info - Similar pages
41-10-516
Section 41-10-516 Special funds. For the purpose of providing funds for the payment of the
principal of and interest on the bonds issued by the authority under the provisions of this
article, there is hereby created and irrevocably pledged to the payment of such obligations
a special and continuing trust fund which shall consist of all receipts and income from rents
contracted for and received by the authority under leases of the facility or facilities constructed
with the proceeds from the sale of the bonds. There shall be created within said special and
continuing trust fund a reserve fund account of said authority in the State Treasury in which
shall be placed as trust fund and held separate and apart from all other moneys of the state
or of the authority, (1) any moneys left after the completion of the facility and the payment
of all costs in connection therewith and in connection with the issuance of the bonds, and,
(2) all excess rentals and other surplus income from the facility...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-516.htm - 2K - Match Info - Similar pages
11-86A-16
Section 11-86A-16 Application of proceeds from the sale of bonds; source of payment; pledge
of county's or municipality's credit; negotiability; exemption from taxation; pledge as security
for funds belonging to a public person; investment in bonds by fiduciaries; no public hearing
required; investment in bonds by Teachers' Retirement System of Alabama, the Employees' Retirement
System of Alabama, and the State Insurance Fund; investment in bonds by public persons. (a)
The proceeds from the sale of any bonds shall be applied as provided in the proceedings in
which the bonds are authorized to be issued, including, without limitation, the payment of
all legal, fiscal, and recording fees and expenses incurred in connection with the authorization,
sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance,
interest on the bonds (or if only a part of any issue of bonds is issued for acquisition purposes,
interest on that portion of the bonds of that issue...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-86A-16.htm - 3K - Match Info - Similar pages
2-3A-55
Section 2-3A-55 Refunding bonds. Pursuant to the provisions of Amendment 619 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by the aforesaid
amendment then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-3A-55.htm - 5K - Match Info - Similar pages
33-2-8
Section 33-2-8 General provisions relative to inland waterways improvement bonds and temporary
loans. In order to provide funds for the purposes herein authorized, the Governor is hereby
empowered to execute, with the concurrence of the director of state docks, and to sell the
state's bonds in such amounts, not exceeding in the aggregate the sum of $3,000,000.00 as
may be necessary for said purposes, all under and subject to the following provisions: Said
bonds shall be appropriately designated as inland waterways improvement bonds of the state.
The bonds may be issued from time to time in one or more series and the bonds of each series
shall be payable in substantially equal annual installments of principal and interest at such
times as may be designated by the State Docks Department with approval of the Governor; provided,
that the first installment of principal of the bonds of each series must mature not later
than 10 years from the date of such series and the last installment of...
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