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45-37A-56.29
Section 45-37A-56.29 Powers of the authority. (a) The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time, which may be
in perpetuity, specified in its certificate of incorporation. (2) To sue and be sued in its
own name in civil suits and actions. (3) To adopt and make use of a corporate seal and to
alter the same at pleasure. (4) To adopt and alter bylaws for the regulation and conduct of
its affairs and business. (5) To acquire, receive, take, and hold, whether by purchase, gift,
lease, devise, eminent domain, or otherwise, property of every description, whether real,
personal, or mixed, and to manage the property, and to develop any undeveloped property owned,
leased, or controlled by it, provided, however, that no such authority shall acquire or lease
real property located outside the boundaries of the city. (6) To...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-56.29.htm - 5K - Match Info - Similar pages
11-92A-23
Section 11-92A-23 Special reserve funds and applications for appropriations. (a) In addition
to all other powers at any time conferred upon an authority by law, an authority may, in connection
with the issuance of any bonds hereunder, create and establish one or more special debt service
reserve funds (a "debt service reserve fund"), and may pay or cause to be paid into
each debt service reserve fund (i) proceeds from bonds issued pursuant hereto to the extent
provided by the authority authorizing the issuance thereof; (ii) any moneys appropriated and
made available by the Legislature for the purpose of such fund; and (iii) any other moneys
that may be made available to the authority from any other source for the purpose of such
fund. All moneys held in a debt service reserve fund shall be used solely for the payment
of the principal of, premium, if any, and interest on bonds secured, in whole or in part,
by that fund when and as the same become due and payable as provided in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-23.htm - 7K - Match Info - Similar pages
45-30-250.06
Section 45-30-250.06 Additional powers and rights. (a) The authority, in addition to all other
powers now or hereafter granted by law, shall have the following powers and rights: (1) To
borrow money for use for any of its corporate purposes. (2) To sell, transfer, convey, grant
options to purchase, or lease all or any part of its system or systems for consideration and
on terms deemed advisable and in the best interest of the authority. (3) To consent and agree
to the assignment or payment of any income received from the investment of any moneys or funds
of the authority to any other public corporation or public entity, including, without limitation,
the county or the state. (4) To loan or advance its funds to any person with or without interest
as it shall determine, for the purpose of financing the construction of a system or any part
thereof. (5) To contract with others for the construction of all or any part of a system or
systems. (b) The moneys held in any special fund...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-30-250.06.htm - 3K - Match Info - Similar pages
11-101A-8
Section 11-101A-8 Powers of authority. (a) In addition to all other powers granted elsewhere
in this chapter, and subject to the express provisions of its certificate of incorporation,
an authority shall have the following powers, together with all powers incidental thereto
or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate
name for the duration of time, which may be in perpetuity, specified in its certificate of
incorporation, or until dissolved as provided in Section 11-101A-24. (2) To sue and be sued
in its own name in civil suits and actions, and to defend suits and actions against it, subject,
however, to Chapter 93 of this title, which chapter is hereby made applicable to the authority.
(3) To adopt, alter, amend, and repeal bylaws, regulations, and rules for the regulation and
conduct of its affairs and business. (4) To adopt and make use of a corporate seal and to
alter the same at pleasure. (5) To acquire, whether by purchase,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-8.htm - 8K - Match Info - Similar pages
11-47-226
Section 11-47-226 Loans, donations, performance of services, etc., by county, municipality,
or other political subdivision, etc., to achieve objectives of article; funding agreements;
amount of indebtedness under funding agreements. (a) For the purpose of attaining the objectives
of this article, any county, municipality, or other political subdivision, or public corporation,
agency, or instrumentality of the state, a county, or municipality, may, upon such terms and
with or without consideration, as it may determine, do any or all of the following: (1) Lend
or donate money to an authority or perform services for the benefit thereof. (2) Donate, sell,
convey, transfer, lease, or grant to an authority, without the necessity of authorization
at any election of qualified voters, any property of any kind. (3) Do any and all things,
whether or not specifically authorized in this section, not otherwise prohibited by law, which
are necessary or convenient to aid and cooperate with an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-226.htm - 4K - Match Info - Similar pages
11-92A-16
Section 11-92A-16 Use of bonds, proceeds, etc. (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 so
provided in the proceedings authorizing their issuance, interest on said 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 that is issued to pay acquisition costs) for a reasonable period
prior to and during the time required for the acquisition, construction, and equipping of
the project. An authority may provide in the proceedings authorizing the issuance of bonds
for the funding of a debt service reserve and/or a replacement and extension reserve from
the proceeds of its bonds. (b) All contracts made by an authority and all bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-16.htm - 3K - Match Info - Similar pages
16-17-1
Section 16-17-1 Definitions. For purposes of this chapter, the following words and phrases
shall be given the following respective meanings: (1) ANCILLARY IMPROVEMENTS. Educational
and related facilities of every kind including, but without limitation to, classrooms, scientific
and other laboratories, libraries, auditoriums, gymnasiums, cafeterias, dining rooms, dormitories,
student and faculty apartments, student union buildings, recreational and social facilities,
student and faculty infirmaries and clinics and facilities for washing, laundering and cleaning
clothing and fabrics of every kind, or any combination of any thereof, and shall also include
equipment and furniture and fixtures used or useful in educational and related facilities
of every kind. (2) APPLICANT.A natural person who files a written application with the governing
body of any municipality in accordance with the provisions of Section 16-17-3. (3) AUTHORITY.
Any public corporation organized pursuant to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17-1.htm - 4K - Match Info - Similar pages
11-57-8
Section 11-57-8 Powers - Generally. The authority shall have the following powers and capacities,
among others specified in this chapter, together with all powers incidental thereto or necessary
to the discharge thereof: (1) To have succession by its corporate name until dissolved as
provided in this chapter; (2) To sue others and to prosecute civil actions; (3) To be sued
by others in any form of litigation other than an action ex delicto and to defend any litigation
brought against it; (4) To have and use a corporate seal and to alter the same at pleasure;
(5) To adopt and alter bylaws for the regulation and conduct of its affairs and business;
(6) To acquire, whether by purchase, gift, lease, devise, or otherwise, property of every
description which the board may deem necessary or desirable to the acquisition, construction,
reconstruction, improvement, enlargement, equipment, operation, or maintenance of a project
and to hold title thereto; (7) To construct, enlarge, improve, equip,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-8.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
37-13-7
Section 37-13-7 Powers of authority generally. Each authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form; (1) To have succession by its corporate name for the duration of time (which may be
in perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its
own name in civil suit and actions; (3) To adopt and make use of a corporate seal and to alter
the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its
affairs and business; (5) To acquire, receive, take and hold, whether by purchase, gift, lease,
devise, or otherwise, property of every description, whether real, personal or mixed, whether
in one or more counties and whether within or without the boundaries or corporate limits (as
the case may be) of any authorizing subdivision, and to manage said property, and to develop
any undeveloped property owned, leased or controlled by it in a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-13-7.htm - 7K - Match Info - Similar pages
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